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).

Our Full Strategic Plan

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, non voting
Ex-officio member of the board
KATELYN BUSBY
Managing Partner, Busby Law PLLC Monticello, AR Term expires January 14, 2024
SETH N. MIMS
ADFA CHAIR
President and Partner, Specialized Real Estate Group Fayetteville, AR Term expires January 14, 2024
STEPHANIE GARNER
Chief Executive Officer, ARVAC Inc. Dardanelle, AR
January 1, 2025
DENNIS MILLIGAN
State Treasurer for the State of Arkansas, voting
Ex-officio member of the board
CAREY SMITH
ADFA VICE CHAIR
President, C. Smith Holdings, Inc. Little Rock, AR
Term Expires January 1, 2025
DENISE SWEAT
Vice President, Farm Credit Services of Western Arkansas Nashville, AR Term expires January 14, 2026
LARRY WALTHER
Director, DFA, voting
Ex-officio member of the board
Dr. Lillie "Lee" Lane
Engineering Executive (retired) Paris, AR Term expires January 14, 2026
GEORGE O'CONNOR
Chairman of the Board, O'Connor Distributing, Little Rock, AR
Term Expires January 1, 2025
ROD COLEMAN
Chairman of ERC Holdings LLC. Fort Smith, AR -- Term expires January 14, 2023
Jon Chadwell
Executive Director, Newport Economic Development Commission Newport, AR
Term expires January 14, 2024
MIKE PRESTON
Cabinet Secretary, Department of Commerce, non voting
Ex-officio member of the board
Harold Perrin
SVP of First Security Bank Jonesboro, AR -- Term expires January 14, 2025

Committees

BOARD PROFESSIONAL SELECTION COMMITTEE
  • George O'Connor, Chair
  • Harold Perrin
  • Stephanie Garner
  • Carey Smith
  • Jon Chadwell
BOARD AUDIT COMMITTEE
  • Carey Smith, Chair
  • George O'Connor
  • Harold Perrin
  • Larry Walther
  • Denise Swe
BOARD HOUSING REVIEW COMMITTEE
  • Katelyn Busby, Chair
  • Rod Coleman
  • Jon Chadwell
  • Seth Mims
  • Stephanie Garner
  • Denise Sweat
  • Carey Smith
BOARD INVESTMENT AND ADMINISTRATION COMMITTEE
  • Denise Sweat, Chair
  • Katelyn Busby
  • Rod Coleman
  • Dr. Lee Lane
  • Larry Walther
BOARD ASSET COMMITMENT COMMITTEE
  • Jon Chadwell, Chair
  • Denise Sweat
  • Dr. Lee Lane
  • George O'Connor
  • Rod Coleman
  • Harold Perrin
ASLA (ARKANSAS STUDENT LOAN AUTHORITY) COMMITTEE
  • Stephanie Garner, Chair
  • Seth Mims
  • George O'Connor
  • Carey Smith
  • Dr. Lee Lane
  • Harold Perrin