Little Rock Skyline

Our 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.

About ADFA

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).

a tractor plowing a field with dust

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.

Board of Directors

A board of directors governs the affairs of the Authority. It is composed of the State Treasurer, Director of the Department of Finance and Administration, and eleven public members appointed by the Governor. The President of the Authority is an ex-officio, non-voting member of the board. The public members represent a broad cross section of interests from all geographic regions of the state. They voluntarily bring to the Authority a diversity of experience, talent and opinion.

Mark Conine, ADFA President

Mark Conine

ADFA President
Term expires
Voting
Non-Voting
ex-officio member of the board
Katelyn Busby, Managing Partner of Busby Law PLLC

Katelyn Busby

Financial Advisor, Edward Jones Investments
Monticello, AR
Term expires
January 14, 2024
Voting
Non-Voting
ex-officio member of the board
Seth N. Mims, ADFA Chair

Seth N. Mims

ADFA Chair
President and Partner, Specialized Real Estate Group
Fayetteville, AR
Term expires
January 14, 2024
Voting
Non-Voting
ex-officio member of the board
Stephanie Garner, Chief Executive Officer, ARVAC Inc.

Stephanie Garner

Chief Executive Officer, ARVAC Inc.
Russellville, AR
Term expires
January 1, 2025
Voting
Non-Voting
ex-officio member of the board

Mr. Jim Hudson

Secretary, Deptartment of Finance & Administration
Little Rock, AR
Term expires
Voting
Non-Voting
ex-officio member of the board
Carey Smith, President of C. Smith Holdings, Inc

Carey Smith

ADFA Vice Chair
President, C. Smith Holdings, Inc.
Little Rock, AR
Term expires
January 1, 2025
Voting
Non-Voting
ex-officio member of the board
Denise Sweat, Vice President of Farm Credit Services of Western Arkansas

Denise Sweat

Vice President, Farm Credit Services of Western Arkansas
Nashville, AR
Term expires
January 14, 2026
Voting
Non-Voting
ex-officio member of the board
Larry Walther, State Treasurer for the State of Arkansas

Larry Walther

State Treasurer for the State of Arkansas
Little Rock, AR
Term expires
Voting
Non-Voting
ex-officio member of the board
Dr. Lee "Lillie" Lane, Engineering Executive

Dr. Lee "Lillie" Lane

Engineering Executive (Retired)
Paris, AR
Term expires
January 14, 2026
Voting
Non-Voting
ex-officio member of the board
George O'Connor, Chairman of the Board at O'Connor Distributing

George O'Connor

Chairman of the Board, O'Connor Distributing,
Little Rock, AR
Term expires
January 1, 2025
Voting
Non-Voting
ex-officio member of the board
Rod Coleman, Chairman of ERC Holdings LLC

Rod Coleman

Chairman of ERC Holdings LLC.
Fort Smith, AR
Term expires
January 14, 2027
Voting
Non-Voting
ex-officio member of the board
Jon Chadwell, Executive Director of Newport Economic Development Commission

Jon Chadwell

Executive Director, Newport Economic Development Commission
Newport, AR
Term expires
January 14, 2024
Voting
Non-Voting
ex-officio member of the board
Harold Perrin, SVP of First Security Bank

Seth Mims

SVP of First Security Bank
Jonesboro, AR
Term expires
January 14, 2025
Voting
Non-Voting
ex-officio member of the board
Hugh McDonald, Cabinet Secretary of Department of Commerce

Hugh McDonald

Cabinet Secretary, Department of Commerce
Term expires
Voting
Non-Voting
ex-officio member of the board
Kirkley Thomas

Kirkley Thomas

Kirkley Thomas, Utility Executive (Retired)
Little Rock
Term expires
January 14, 2027
Voting
Non-Voting
ex-officio member of the board

Committees

Board Professional Selection Committee

Harold Perrin
, Chair
Katelyn Busby
Rod Coleman
Jon Chadwell
Kirkley Thomas

Board Audit Committee

Denise Sweat
, Chair
Larry Walther
Mr. Jim Hudson
Carey Smith
Harold Perrin

Board Housing Review Committee

Rod Coleman
, Chair
George O'Connor
Jon Chadwell
Seth N. Mims
Stephanie Garner
Denise Sweat

Board Investment and Administration Committee

George O'Connor
, Chair
Rod Coleman
Dr. Lee "Lillie" Lane
Larry Walther
Mr. Jim Hudson

Board Asset Commitment Committee

Jon Chadwell
, Chair
Denise Sweat
George O'Connor
Katelyn Busby
Seth Mims
Kirkley Thomas

ASLA (ARKANSAS STUDENT LOAN AUTHORITY) COMMITTEE

Stephanie Garner
, Chair
George O'Connor
Carey Smith
Dr. Lee "Lillie" Lane
Seth Mims