ADFA is a public body politic and corporate, created in 1985 as successor to the
Arkansas Housing Development Agency created in 1977. ADFA’s enabling
legislation authorizes it to borrow money and issue bonds to provide sufficient
funding for financing affordable housing, various business and economic
development projects, and capital improvements for state agencies. Effective
7/1/2017, Arkansas Student Loan Authority merged with ADFA. Both ADFA and
ASLA are self-funded primarily through investment and loan earnings. ADFA also
receives federal funds. ADFA is the exclusive issuer of bonds for state agencies.
Neither ADFA nor ASLA is a regulatory or licensing agency. ADFA (including ASLA)
is governed by a 14-member board of directors, consisting of the Director of DFA,
the Treasurer of the State, eleven public members appointed by the Governor,
and the President of the Authority (non-voting).
MISSION: To promote economic growth in the state of Arkansas by providing and
supporting financing for affordable housing, agricultural business enterprises,
industrial and economic development, capital improvement for state agencies
and local governments, higher education funding and related programs, and
by promoting better economic policy.
VISION: Raise the standard of living of Arkansans through direct in-kind assistance,
entrepreneurial job creation, improved economic policy, enhanced access to higher
education funding, and responsible public finance. Responding to the changing needs of Arkansas' growing and increasingly diverse population and business community since 1985.
ADFA'S activities are divided into two main categories: Development Finance and Affordable Housing Development.
ADFA also has a Finance and Administration division that plays the important role of asset-liability management, accounting and office administration.
Click here to view ADFA's full Strategic Plan