Feb-05-2026

RFP – TRUSTEE FOR STUDENT LOAN AUTHORITY REVENUE BONDS

DOWNLOAD RFP TO SERVE AS TRUSTEE FOR STUDENT LOAN REVENUE BONDS

A Division Of

SPECIAL NOTE: YOUR IMMEDIATE ATTENTION IS CALLED TO SECTION I.C. YOU NEED TO SEND TO US AN E-MAIL ADDRESS FOR TRANSMISSION OF NOTICES OF INQUIRIES.

February 4, 2026
Arkansas Development Finance Authority
#1 Commerce Way, Suite 602
Little Rock, AR 72202
501) 682-5900

SECTION I: INSTRUCTIONS TO PROPOSER/ GENERAL INFORMATION

A. PURPOSE. The Arkansas Student Loan Authority (“ASLA”) is a division of the Arkansas Development Finance Authority (“ADFA”), an instrumentality of the state of Arkansas (ASLA and ADFA referred to collectively herein as the “Authority”). The Authority is requesting proposals from investment banking firms to serve as trustee for the Authority’s Student Loan Revenue Bonds. It is our current intention to engage a qualified firm to provide trustee services in connection with a possible 2026 financing to support ASLA’s private student loan program. The selected firm will participate in the issuance and administration of the Authority’s student loan revenue bonds.

The Authority does not currently have outstanding student loan bond debt. The Authority currently holds approximately $32 million in private student loans on its balance sheet. Under ADFA’s management and supervision, ASLA offers three types of student loan financings, primarily for Arkansas families: (i) the Student Loan originated under the student’s name; (ii) the Family Loan originated under a family member’s name on behalf of a student; and (iii) the Refinancing Loan to refinance a borrower’s federal and/or private student loan debt. All loans require a credit-worthy borrower or credit-worthy cosigner.

Available tax-exempt volume cap for the student loan program in 2026 will be approximately $40,000,000. The Authority anticipates executing a financing transaction in the fall of 2026 in the approximate amount of $40,000,000.

B. SUBMISSION OF PROPOSALS. Written proposals responding to the questions and requests for information in the manner specified in this Request For Proposal (“RFP”) should be submitted to the following:

educationloans@asla.info

To be considered, a copy of the proposal should be delivered to the Authority not later than March 25, 2026, 12:00 p.m., via email. Late proposals will not be accepted. The Authority reserves the right to reject any or all proposals.

C. ADDITIONAL INFORMATION. It is the responsibility of the proposer to inquire about and clarify any aspect of the RFP. Questions should be directed to:

educationloans@asla.info

Substantive questions and answers will be documented and will be sent by electronic mail to all the proposers who provide the Authority with an e-mail address. IN ORDER TO BE ON THE DISTRIBUTION LIST FOR RESPONSES TO INQUIRIES, YOU MUST PROVIDE THE E-MAIL ADDRESS TO WHICH YOU WANT ALL SUCH TRANSMISSIONS SENT.

D. PROPERTY OF THE AUTHORITY. Any information or materials submitted as a response to this RFP shall become the property of the Authority and will not be returned. All submitted materials will be available for public review.

E. RESPONSE TO REQUEST FOR PROPOSAL. Firms wishing to respond to this RFP with questions may submit inquiries to the email address provided above however, NO CONTACT WITH ADFA BOARD MEMBERS IS ALLOWED AND ANY SUCH CONTACT WILL BE GROUNDS FOR IMMEDIATE REJECTION OF A FIRM’S PROPOSAL.

F. SELECTION TIMETABLE.

February 4, 2026 Request for Proposal Issued

March 25, 2026 Proposals due by 12:00 p.m., via email

TBA Oral Presentations (if necessary)

April 16, 2026 Board Action (Appoint/ratify the appointment of Trustee, authorizes the President of ADFA to negotiate fees).

G. SELECTION PROCESS. ADFA’s Staff Professional Selection Committee will review the submitted proposals. Proposals will be evaluated based on the responses to specifics outlined in the Proposal Format section of this RFP and based upon the selection criteria. Proposals that omit any of these items may be rejected as non-responsive. The ADFA Board Professional Selection Committee will make its decision on a recommendation for selection, which will be reported to the Board of Directors of the Authority. The final selection will be made by a vote of Board members.

ADFA may at any time prior to the selection of a firm reject any and all proposals and cancel this RFP, without liability therefore, upon finding that there is good cause for rejecting all proposals and that it would be in its interest to cancel the solicitation. Further, regardless of the number and quality of proposals submitted, ADFA shall under no circumstances be responsible for any proposer costs and expenses incurred in submitting a response to this RFP. Each proposer who submits a response does so solely at the proposer’s cost, risk and expenses. ADFA accepts no responsibility for the return of successful or unsuccessful proposals. This RFP in no way obligates ADFA to select a firm.

Any firm selected will be required to complete a disclosure form in compliance with Governor’s Executive Order 98-04.

H. SELECTION CRITERIA. The proposals will be reviewed by the Staff Professional Selection Committee composed of selected members of the Authority staff. The committee generally will use the following criteria to evaluate all acceptable proposals and to develop recommendations to be presented to the ADFA Board Professional Selection Committee; however, ADFA reserves the right to evaluate the proposals based on factors beyond the listed criteria.

Criteria

1. Firm’s prior experience as trustee for Private Student Loan bond issues.

2. Ability to handle daily receipts and payments.

3. Timeliness and clarity of transaction reporting.

4. Qualifications of staff to be assigned. (Position in firm and years

and type of experience will be considered.)

5. Responsiveness of written proposals to the purpose and scope of services.

6. Reasonableness of proposed fee.

SECTION II: SCOPE OF SERVICES AND REQUIREMENTS

The trust indenture for this bond program, when adopted by the ADFA Board of Directors and accepted by the trustee, shall be deemed to be and shall constitute a contract between ADFA and the trustee. The indenture will require the trustee to perform services normally associated with being trustee for a revenue bond program, including, but not limited to:

1. Authenticate and deliver the Bonds authorized by the trust indenture.

2. Maintain registry books of the Authority showing the person in whose name the Bonds are registered, if applicable.

3. Hold and maintain trust funds pursuant to the trust indenture.

4. Apply or deposit all Bond proceeds, pledged funds and pledged revenues pursuant to the trust indenture.

5. Invest or reinvest funds held in accounts pursuant to the trust indenture or as directed by an authorized officer of the Authority.

6. Maintain accurate records of all trust fund transactions.

7. Advise the Authority electronically, on or before the 5th business day of each calendar month, of the details of all investments held for the credit of each fund and account in its custody under the provisions of the trust indenture as of the end of the preceding month.

8. Select bonds to be redeemed in such manner as prescribed in the trust indenture and as directed by the Authority in accordance with the trust indenture.

9. Give notice, in the name of the Authority, of redemption of Bonds at the time and in the manner required by the trust indenture.

10. Serve as Disclosure Dissemination Agent for the Authority – report all annual financial disclosure and material events to the Municipal Securities Rulemaking Board (“MSRB”) via the MSRB’s Electronic Municipal Market Access System (“EMMA”) on behalf of the Authority. The Authority should be notified and copied on all correspondence relating to disclosure to EMMA on the Authority bond issues.

11. Bill and collect the Authority administrative fee.

12. Ability to provide Internet accessibility of trust account information and provide access and/or submit daily transactions via interface program and month-end balances report.

13. Send copy of all unscheduled Bond Redemptions occurring prior to maturity to the Authority Accounting/Finance Department.

14. Ensure timely receipt of arbitrage rebate calculations.

15. Prepare bond call calculations prior to each debt service date or upon direction of the Authority.

SECTION III: PROPOSAL FORMAT

A. TRANSMITTAL LETTER. A one-page transmittal letter prepared on the proposer’s business stationery should accompany the submitted proposal.

B. PROPOSAL. The proposal should be labeled “Proposal to serve as Trustee for The Student Loan Revenue Bond Program.” The submission must contain sufficient information to enable the ADFA Staff and Board Professional Selection Committees to evaluate the proposal. It should be prepared in a clear and concise manner and should address each of the following subsections:

1. Experience. Give a brief summary of your firm’s prior experience as trustee for Student Loan bond issues.

2. Staffing and Qualifications. Give a brief summary of the qualifications and experience of the trust officer and staff who will be assigned to this account.

3. Daily Processing and Reporting. Please give a brief description of your computer systems and programs utilized in the Trust Division and their capabilities. Comment on your ability to handle daily receipts, daily payments and the timeliness and clarity of transaction reporting. Also discuss what account accessibility via the Internet you offer as well as any experience you have with electronic interfaces between your trust systems and your customer’s accounting software.

4. Scope of Services. Elaborate on the services you propose to perform as trustee for the proposed financing. In what way do you expect the scope of services to differ from those listed in Section II? Please also address your firm’s ability to meet the timeframes outlined at the end of Section II.

5. Financial Strength. Please comment on your company’s financial condition and any issues that might impact your ability to carry out this assignment. Please provide your institution’s current credit rating(s) as assigned by Standard & Poor’s, Moody’s, and/or Fitch.

6. Trustee Fee & Reimbursable Expenses. Complete the attached Proposed Trustee Fee Schedule, and, if necessary, use a narrative description to present the basic assumptions on which your firm’s fee proposal is predicated and any factors that would change the proposed fee. List all anticipated expenses to be incurred by your firm for which you expect reimbursement. This includes any wire fees or sweep fees you anticipate being charged on the account. For each expense item, give an estimated per unit cost and a total cost for the item.

7. Equal Opportunity Statement. Please submit your Equal Opportunity Policy to ADFA in accordance with Arkansas Act 2157 of 2005. This act requires any firm wishing to respond to an RFP or submit a proposal or statement of qualifications to provide ADFA with your Equal Opportunity Policy.

8. Under Arkansas Code 19-11-105 and 25-1-503, the firm selected will be required to represent, in the contract providing for the engagement , that (a) it does not currently employ or contract with an illegal immigrant, and (b) it is not currently engaged in a boycott of Israel and will not during the term of the contract engage in a boycott of Israel.

9. Acceptance. Submission of proposals, in response to this Request for Proposal, constitutes acceptance of all conditions, requirements and limitations described in this document.

ARKANSAS DEVELOPMENT FINANCE AUTHORITY

Proposed Trustee Fee Schedule

Acceptance Fee and Registration Fee. $ _____________

Administrative Fee for Long-Term Bonds:
( ) Fixed annual fee until final bond redemption, or $ _____________

( ) ____ basis points of outstanding bond balance, paid annually
Provide assumptions for fee structure here: $______________

___________________________________, or

( ) Other basis (Explain)

_____________________________________________________ $ _____________

_____________________________________________________

_____________________________________________________ $ _____________

_____________________________________________________

Additional Fees or Charges (Brief description and estimated $
amount). Wire fees and sweep fees should be included here:

____________________________________________________ $ _____________

Presented on behalf of: _________________________________

By: _________________________________________________

Title: ________________________________________________

Phone: ______________________________________________

Jan-26-2026

9% LIHTC Application Deadline extended to February 9, 2026

Due to the historic winter storm ADFA has decided to grant an extra week for 9% LIHTC applications to be submitted. The new deadline for complete applications to be submitted is Monday February 9, 2026 at 4:30pm.

Thank you,

John Blackwell
Vice President of Tax Credits
Arkansas Development Finance Authority
1 Commerce Way, Suite 602
Little Rock, Arkansas 72202

john.blackwell@arkansas.gov
501-682-5468

Jan-22-2026

RFP – BOND COUNSEL FOR STUDENT LOAN REVENUE BONDS

REQUEST FOR PROPOSALS
TO SERVE AS

BOND COUNSEL
FOR
STUDENT LOAN REVENUE BONDS

A Division Of

SPECIAL NOTE: YOUR IMMEDIATE ATTENTION IS CALLED TO SECTION I.C. YOU NEED TO SEND TO US AN
E-MAIL ADDRESS FOR TRANSMISSION OF NOTICES OF INQUIRIES.

January 22, 2026

Arkansas Development Finance Authority
#1 Commerce Way, Suite 602
Little Rock, AR 72202
(501) 682-5900

SECTION I: INSTRUCTIONS TO PROPOSERS/ GENERAL INFORMATION

A. PURPOSE. The Arkansas Student Loan Authority (“ASLA”) is a division of the Arkansas Development Finance Authority (“ADFA”), an instrumentality of the state of Arkansas (ASLA and ADFA referred to collectively herein as the “Authority”). The Authority is requesting proposals from firms to serve as bond counsel for the Authority’s Student Loan Revenue Bonds.

Proposers should be clear that their response addresses the delivery of the full scope of federal tax, securities and other federal law issues along with state law and other legal issues.

From the list of respondents to this Request for Proposal (RFP), the Authority expects to select a firm, or a team of firms, to act as bond counsel for a period of approximately two (2) years (term can be extended for additional one (1) year terms, with a maximum of five (5) extensions, at the discretion of the ADFA Board), subject to successful negotiation of fees with the concerned firm(s).

Bond counsel will be expected to consult with and advise the Authority, the underwriter and the underwriter’s counsel on legal and tax aspects of the Student Loan Program, prepare and publish various required program documents and issue appropriate legal opinions regarding, among other things, relevant federal and state tax issues and ADFA’s authority to issue the concerned debt obligations.

The Authority makes no representation or warranty of any nature that any firm selected pursuant to this RFP will participate in any minimum or maximum number of financings, or in financings that involve any minimum or maximum dollar amounts.

Any bond counsel selected pursuant to this RFP shall serve at the pleasure of the Authority, and the professional services of any firm selected may be terminated, at the sole discretion of the Authority, upon delivery of written notice of such termination to the selected firms.

The Authority will not be responsible for paying any direct or indirect out-of -pocket expenses or fees incurred in the process of developing the bond program. Proposers should understand that such costs, if any, must be recovered from bond sales, and there is no assurance any bond sales will be transacted. Proposers should further understand that engagement of the selected firm will be continuously subject to the successful negotiation of fees and expenses for services rendered in developing the Bond Program and transacting bond sales.

B. SUBMISSION OF PROPOSALS. Written proposals responding to the questions and requests for information in the manner specified in this Request For Proposal (“RFP”) should be submitted to the following:

educationloans@asla.info

To be considered, the proposal should be delivered to the Authority not later than March 18, 2026, by 12:00 p.m. (CST), via email. Late proposals will not be accepted. The Authority reserves the right to reject any or all proposals.

ADDITIONAL INFORMATION. It is the responsibility of the proposer to inquire about and clarify any aspect of the RFP. Questions should be directed to:

educationloans@asla.info

Substantive questions and answers will be documented and sent by e- mail to those who provide the Authority an e-mail address.

IN ORDER TO BE ON THE DISTRIBUTION LIST FOR RESPONSES TO INQUIRIES, YOU MUST PROVIDE TO THE AUTHORITY THE E-MAIL ADDRESS TO WHICH YOU WANT SUCH TRANSMISSIONS SENT.

D. PROPERTY OF ADFA. Any information or materials submitted as a response to this RFP shall become the property of the Authority and will not be returned. All submitted materials will be available for public review.

E. RESPONSE TO REQUEST FOR PROPOSAL. Law firms wishing to respond to this RFP may submit inquiries to the email address provided above however, NO CONTACT WITH ADFA BOARD MEMBERS IS ALLOWED AND ANY SUCH CONTACT WILL BE GROUNDS FOR IMMEDIATE REJECTION OF A FIRM’S PROPOSAL.

F. PROPOSAL TIMETABLE.

            January 22, 2026         Request for Proposal Issued
March 18, 2026           Proposals Due
TBA                            Oral Presentations (if necessary)
April 16, 2026             Board Action (Appoint/ratify appointment of bond counsel, authorizes the President of ADFA
to negotiate fees)

G. SELECTION PROCESS. The ADFA Staff Professional Selection Committee will review the submitted proposals. Proposals will be evaluated based on responses to specifics outlined in the Proposal Format section of this RFP and based upon the selection criteria. Proposals which omit any of these items may be rejected as non-responsive. From this review, individual firms may be chosen for interviews. The Board of Directors Professional Selection Committee will make its decision on a recommendation for selection, which will be reported to the Board of Directors of the Authority at its regular meeting. The final selection will be made by a vote of Board members.

The Authority may at any time prior to the selection of bond counsel reject any and all proposals and cancel this RFP, without liability therefore, upon finding that there is cause for rejecting all proposals and that it would be in the Authority’s interest to cancel the solicitation. Further, regardless of the number and quality of proposals submitted, the Authority shall under no circumstances be responsible for any proposer costs and expenses incurred in submitting a response to this RFP. Each proposer who submits a response does so solely at the proposer’s cost, risk and expense. The Authority accepts no responsibility for the return of successful or unsuccessful proposals. This RFP in no way obligates the Authority to select a firm.

Any firm selected will be required to complete a disclosure form in compliance with Governor’s Executive Order 98-04.

H. SELECTION CRITERIA. The proposals will be reviewed by a Staff Professional Selection Committee composed of selected members of the Authority’s staff. The committee generally will use the following criteria to evaluate all acceptable proposals and to develop recommendations to be presented to the ADFA Board Professional Selection Committee; however, the Authority reserves the right to evaluate proposals based on factors beyond the listed criteria.

Criteria

1. Firm’s relevant experience as bond counsel for debt financings for student loans.

Prior experience with student loan revenue bond issues
Size and number of prior bond issues and experience in complex bond financings of prior bond issues

2.         Organization, size and structure of firm:
a.         Adequate firm resources dedicated to tax securities and municipal bond
transactions

3. Qualifications of staff to be assigned, i.e., team members’ demonstrated ability, years and type of
experience.

4. Responsiveness of written proposals to the scope of services issues
5. Responsiveness of proposal on fee determination issue

SECTION II: SCOPE OF SERVICES AND REQUIREMENTS

The Bond Counsel will be expected to perform all the normal duties associated with being bond counsel for the issuer of municipal bonds, including but not limited to:

A. Attend meetings when such meetings include matters directly or indirectly related to the proposed bond issue.

B. Provide advice and assistance in structuring the financing and in planning for the sale of the debt obligations, including consultation with the underwriters and their counsel. Note: Underwriter’s counsel will be primarily responsible for preparation of the preliminary official statement, official statement, bond purchase agreement, blue-sky memorandum and legal investment memoranda, but the bond counsel shall be available for consultation in the preparation of these documents, if necessary.

Prepare the borrowing resolutions and documentation, program administration agreement, bond resolutions, trust indenture, security documents, closing documents and certificates, including arbitrage certificate and tax regulatory agreement, to the extent such documents are required to issue the bonds.

Prepare and advise the Authority on changes to purchase price limits and income limits.

E. Issue approving opinions for borrowings, and issue final approving opinions with respect to any debt obligations, as required, concerning matters of legality and tax exemption, and any supplemental opinion requested as to the bonds under federal and state tax laws.

F. Provide assistance and preparation for rating agency hearings, if desired, including attendance at meetings and follow-up on any detailed information requested.

G. Provide any required legal research, correspondence, and preparation of memoranda or other documents related to the issuance of any debt obligations, as required.

H. Consult with the provider of any credit enhancement and its counsel concerning any such credit enhancement and documentation.

Any additional legal services necessary to issue any debt obligations under the student loan program.

Prepare an engagement letter for ADFA President’s review and approval before performing any compensable work relating to the proposed engagement.

Consult with and assist Finance and Student Loan staff regarding legal requirements of the student loan bond program.

Other duties that relate to the program as requested by the Authority.

SECTION III: PROPOSAL FORMAT

A. TRANSMITTAL LETTER. A brief transmittal letter, prepared on the proposer’s business stationery, should accompany the proposal.

B. PROPOSAL. The proposal should be labeled “Proposal to serve as Bond Counsel for ADFA Student Loan Revenue Bonds”. The proposal must contain sufficient information to enable the ADFA Staff Professional Selection Committee to evaluate the proposal. It should be prepared in a clear and precise manner and should address all appropriate subsections.

Bond Counsel Team and Personnel. Describe the manner in which you would organize your firm’s resources to serve as bond counsel for the proposed financing. In doing so, please address the following questions or issues:

Identify the individual who will manage the relationship and any transactions on a day-to-day basis. Define this individual’s position within the firm and indicate the degree to which he or she will be able to commit the firm’s resources to the Authority. What is this person’s availability for this program and what other commitments does he or she have?
Identify other professionals from your firm who will be assigned to work on this project, their roles and responsibilities and relevant aspects of their background. How will these individuals work with the other members of the financing team?
Describe your student loan finance experience as bond counsel or underwriter’s counsel. Note: This information may be presented as an exhibit to your proposal. Please include information in the following format:
- Name of client
- Your specific role (bond counsel or issuer’s counsel or underwriter’s counsel)
- Number of years serving this client
- Name(s) of partners in charge of this client

Comments on Scope of Services. Elaborate on the services you propose to perform as bond counsel for the proposed financing. In what way do you expect the scope of services to differ from those listed in Section II? Please discuss the following:

Experience your firm has in obtaining clarification of the Internal Revenue Code and IRS Regulations;
Your firm’s recent experience in obtaining Internal Revenue Service rulings;
Your firm’s ability to monitor and advise the Authority on federal legislation that may impact the Authority’s student loan program;
Describe the manner in which your firm regularly communicates changes in the tax law to your clients.

Potential Conflicts. List any relationship which might lead to a potential conflict in performing any services for the Authority’s (i.e. representing any clients that may have or develop an adverse interest to the Authority). Please list specifically any conflicts resulting from material adverse matters, as distinguished from the conduct of business as usual. Indicate what steps would be taken to eliminate any such conflict.

Rationale for Appointment and Proposal Summary. This section of the proposal should be used by each proposer to present the case for its appointment to the position sought. Please briefly recite your firm’s qualifications and experience, particularly in connection with student loan revenue bond transactions. Please describe how your qualifications and experience are relevant to the proposed transaction.
Malpractice Insurance. Acknowledge that if selected as bond counsel, your firm will provide the Authority proof of malpractice insurance covering, among other things, securities-related claims. Please list any pending claims or disputes relating to prior opinions as bond counsel.

Bond Counsel Fee Determination. Selection of a bond counsel will not be based on a competitive bid. The Authority will attempt to negotiate with the top-ranked firm to establish a fair and reasonable fee. If an agreement cannot be reached with the top-ranked firm, negotiations will be attempted with the lower-ranked firms in order of their rankings.

The Authority would prefer to enter an arrangement which provides a flat fee per transaction and hourly fees for non-transaction work with an overall annual cap. Discuss whether this would be acceptable to your firm. Discuss your methodology and rationale for any proposed alternative fee arrangement.

8. Equal Opportunity Statement. Please submit your Equal Opportunity Policy to the Authority in accordance with Arkansas Act 2157 of 2005. This Act requires any firm wishing to respond to an RFP or submit a proposal or statement of qualifications to provide the Authority with your Equal Opportunity Policy.

9. Acceptance. Submission of proposals, in response to this Request for Proposal, constitutes acceptance of all conditions, requirements and limitations described in this document.

Jan-22-2026

RFP – UNDERWRITER FOR STUDENT LOAN REVENUE BONDS

REQUEST FOR PROPOSALS
TO SERVE AS

UNDERWRITER
FOR
STUDENT LOAN REVENUE BONDS

A Division Of

SPECIAL NOTE: YOUR IMMEDIATE ATTENTION IS CALLED TO SECTION I.C. YOU NEED TO SEND TO US AN E-MAIL ADDRESS FOR TRANSMISSION OF NOTICES OF INQUIRIES.

January 22, 2026
Arkansas Development Finance Authority
#1 Commerce Way, Suite 602
Little Rock, AR 72202
(501) 682-5900

SECTION I: INSTRUCTIONS TO PROPOSER/ GENERAL INFORMATION

A. PROGRAM INFORMATION. The Arkansas Student Loan Authority (“ASLA”) is a division of the Arkansas Development Finance Authority (“ADFA”), an instrumentality of the state of Arkansas (ASLA and ADFA referred to collectively herein as the “Authority”). The Authority is requesting proposals from investment banking firms to serve as underwriter for the Authority’s Student Loan Revenue Bonds. It is our current intention to engage a bond underwriting firm who will market bonds to fund the Authority’s student loan program for a period of three (3) years beginning on July 1, 2026. The term can be extended for additional two (2) year terms at the discretion of the ADFA Board.

The Authority hopes to obtain proposals which are designed to contribute to the following major goals of the Program:

1. To make private student loans available for Arkansas families at notably lower rates than those offered by for-profit lenders.

2. To access low-cost funds through broadening investor base, creative financing structures, expanded disclosure reporting and high retail participation.

3. Provide financing options considered attractive to the Authority’s clients and agents which include students, parents of students, higher education institutions, bond holders, elected officials, government agencies, etc.

4. Minimize the Authority’s financial contribution.

5. Design a program that generates income to the Authority and is manageable by the Authority staff.

Proposers may submit any number of financing strategies or other program ideas they deem appropriate to accomplish the goals of the Authority. Nevertheless, the objective of this selection process is to select a financing team, not a financing structure. ADFA will seek underwriter input as to effective and sellable structures to the investor community. Ultimately, after the selection of the Program team, further strategy sessions may be conducted where financing structures and other aspects will be evaluated and pursued as appropriate.

Any investment banking firm selected pursuant to this RFP shall serve at the pleasure of ADFA, and the professional services of any firm selected may be terminated at the sole discretion of ADFA, upon delivery of written notice of such termination to the selected firms.

Authority for this Program is contained in Arkansas Development Finance Authority Act, consisting of Arkansas Code Annotated § 15-5-101 et seq

educationloans@asla.info

To be considered, one (1) electronic copy of the proposal should be delivered to ADFA not later than March 25, 2026, by 12:00 p.m. (CDT), via email. ADFA reserves the right to reject any or all proposals.

C. ADDITIONAL INFORMATION. It is the responsibility of the proposer to inquire about and clarify any aspect of the RFP. Questions should be submitted by email to:

educationloans@asla.info

Substantive questions and answers will be sent by electronic mail to all proposers who provide the Authority with an e-mail address. IN ORDER TO BE ON THE DISTRIBUTION LIST FOR RESPONSES TO INQUIRIES, YOU MUST ADVISE ADFA OF THE E-MAIL ADDRESS TO WHICH YOU WANT SUCH TRANSMISSIONS SENT.

D. PROPERTY OF ADFA. Any information or materials submitted as a response to this RFP shall become the property of ADFA and will not be returned. All submitted materials will be available for public review.

E. RESPONSE TO REQUEST FOR PROPOSAL. Investment banking firms wishing to respond to this RFP may submit inquiries to the email address provided above however, NO CONTACT WITH ADFA BOARD MEMBERS IS ALLOWED AND ANY SUCH CONTACT WILL BE GROUNDS FOR IMMEDIATE REJECTION OF A FIRM’S PROPOSAL.

F. SELECTION TIMETABLE.

January 22, 2026 Request for Proposal Issued

March 25, 2026 Proposals Due

TBD Oral Presentations, if necessary

April 16, 2026 Board Action (Appoint/ratify appointment of underwriter, authorizes the President of ADFA to
negotiate fees)

G. SELECTION PROCESS. The ADFA Staff Professional Selection Committee will review the submitted proposals. Proposals will be evaluated based on responses to specifics outlined in the Proposal Format section of this RFP and based upon the selection criteria. From this review, firms may be chosen for oral presentations. All proposing firms will be advised of the firms selected for oral interviews. After conducting oral interviews, if necessary, the Board Professional Selection Committee will make its decision on a recommendation for selection which will be reported to the Board of Directors of the Authority at its regular meeting. The final selection will be made by a vote of Board members.

ADFA may at any time prior to the selection of underwriter reject any and all proposals and cancel this RFP, without liability therefore, upon finding that there is good cause for rejecting all proposals and that it would be in its interest to cancel the solicitation. Further, regardless of the number and quality of proposals submitted, ADFA shall under no circumstances be responsible for any proposer costs and expenses incurred in submitting a response to this RFP. Each proposer who submits a response does so solely at the proposer’s cost, risk and expense. ADFA accepts no responsibility for the return of successful or unsuccessful proposals. This RFP in no way obligates ADFA to select a firm.

Any firm selected will be required to complete a disclosure form in compliance with Governor’s Executive Order 98-04.

H. SELECTION CRITERIA. The proposals will be reviewed by the Staff Professional Selection Committee composed of selected members of ADFA staff. The committee generally will use the following criteria to evaluate all acceptable proposals and to develop recommendations to be presented to the ADFA Board Professional Selection Committee; however, ADFA reserves the right to evaluate proposals based on factors beyond the criteria listed below.

Qualifications of the underwriter;

Current commitment to municipal finance and, specifically, student loans

Prior experience with student loan revenue bond issues including size, number, complexity and success of prior bond programs

Qualifications of staff assigned to the student loan program and the team members’ demonstrated ability, years and type of experience

Demonstrated marketing ability and resources, particularly in selling student loan backed tax-exempt bonds

Net capital of firm and application of that capital to ensure placement and takedown of bonds

Merits of any proposed financing structures or other program initiatives including their creativity and cost effectiveness for the program

Responsiveness of written proposals to the scope of services

4. Proposed management fee, if any, and expected takedown by maturity

The Authority reserves the right to award the contract to the firm which will best meet the qualifications required the Authority. The firm selected may or may not be the firm with the lowest proposed fee structure. The Authority also reserves the right to reject any and all proposals prior to execution of the contract with no penalty or cost the Authority.

SECTION II: SCOPE OF SERVICES AND REQUIREMENTS

The selected firm will be expected to perform all normal duties associated with the underwriting and sale of the bonds in a negotiated mode including but not limited to:

1. Work with the Authority and its Financial Advisor to develop a structure which is marketable and provides the lowest cost of funds to the Program;

2. Advise the Authority concerning market conditions and the timing of the sale;

3. Obtain an underwriter’s counsel (subject to the approval of the Authority);

Prepare supplemental documents related to each bond issue. This will include, but not be limited to, a detailed cost of issuance at closing (format to be distributed to selected firm prior to closing), and an analysis of each bond issue which compares it with similar bonds sold within the same time frame;
Develop a sale strategy and marketing plan;
Coordinate information with selling group and financial advisor;
Manage the syndicate prior to, during, and after the bond sale;
Conduct pre-sale briefings and information sessions;
Conduct the bond sale including “running the books” and, if necessary, underwriting;
Provide normal administrative services such as procurement of CUSIP number, establishment of account with DTC, etc.;
Prepare a summary analysis of the bond sale (format to be distributed to selected firm prior to closing);
Review, comment and assist in the refinement of the student loan program and the financing plan for the loan program;
Cooperate with the Authority and its engaged professionals in the calculation of arbitrage rebate and in solving any problems connected with any bond issue in the Single Family program on an as-needed basis.

SECTION III: PROPOSAL FORMAT

TRANSMITTAL LETTER. A one-page transmittal letter prepared on the proposer’s business stationery should accompany the proposal.

B. PROPOSAL. The proposal should be labeled “Proposal to serve as Underwriter for ADFA Student Loan Revenue Bonds”. The submission must contain sufficient information to enable the ADFA Staff and Board Professional Selection Committees to evaluate the proposal. It should be prepared in a clear and concise manner and should address each of the following subsections (complete proposal responses should be limited to no more than 25 pages):

1. Investment Banking Firm Experience and Personnel. Please address the following questions or issues:

a. Identify your firm’s experience with student loan revenue bonds, including a list of state agencies and not-for-profit state-based student loan providers for which your firm serves as senior manager or co-manager. Please provide a listing of student loan revenue bonds issues on which your firm has served as lead underwriter during the last five (5) years, including issuer name, issue caption, par amount, tax status, debt type, and pricing date.

b. Identify the individual who will manage this financing on a day-to-day basis. Indicate the degree to which he or she will be able to commit the firm’s resources to ADFA. What is this person’s availability for this financing and what other commitments does he or she have?

c. Identify other professionals at your firm who will be assigned to work on this project, their roles and responsibilities. What are some relevant aspects of their background?

Provide your firm’s net capital and your firm’s philosophy in applying that capital to ensure the placement and takedown of bond issues.

Comments on Scope of Services. Elaborate on the services you propose to perform as underwriter for the proposed financing. In what way do you expect the scope of services to differ from those listed in Section II?

4. Rationale for Appointment and Recent Experience. This section of the proposal should be used to present the case for your selection to the position, describing how your qualifications and experience in structuring, underwriting and distributing securities are relevant to serving as ADFA’s underwriter. Select one past deal where your firm served as senior managing underwriter (indicating the date of issue, issuer, credit description, size and method of sale) and summarize its similarity to ADFA’s program and its successfulness. You may want to compare it with other deals of similar size and purpose that were sold at the same time.

5. Marketing of the Authority’s Student Loan Revenue Bonds. Please respond briefly to the following:

a. Describe your firm’s retail and institutional marketing network for municipal bonds generally and student loan revenue bonds in particular, emphasizing your ability to market the Authority’s student loan revenue bonds.

b. Describe your philosophy of and procedure for establishing bond sale prices. What is your strategy to attract multiple institutional investors to a deal?

How will your firm make an active secondary market for our bonds?

6. Fee Proposal. Recognizing that the takedown and certain expenses can vary from issue to issue, we expect to negotiate with our senior managing underwriter for each issue, in advance, a budget for these items. However, we would request a fee proposal for the following services:

Management fee, if any, for Book Running Senior Manager services. The Authority anticipates that its Financial Advisor will structure the bonds and run all ratings agency analytics to achieve the bond ratings. Please quote your Management Fee with this assumption. If you wish, you may also separately quote a Management Fee that assumes your firm structures the bonds and does the ratings agency work, rather than the Authority’s Financial Advisor.
1. Describe how you plan to allocate management fee with any co-managers or management group members
1. Provide expected takedown/total underwriting spread

Your fees should be based on what is listed in the Scope of Services and Requirements in Section II of this Request for Proposal. Please state any other services not listed in the Scope of Services and Requirements and how they would change the amount of your proposed fee. Any fees or expenses not included/disclosed will come directly out of the Underwriters Discount.

8. Acceptance. Submission of proposals, in response to this Request for Proposal, constitutes acceptance of all conditions, requirements and limitations described in this document.

INVESTMENT BANKING FEE PROPOSAL

Student Loan Revenue Bonds

Management Fee $____________________/$1000 (Financial Advisor Structures)

Management Fee $____________________/$1000 (Underwriter Structures)

Average Takedown $____________________/$1000

Underwriters’ Expenses $____________________/$1000

TOTAL – UNDERWRITER SPREAD $____________________/$1000 Gross Spread

Expense Breakdown	(Maximum not to be exceeded)
Clearance	$
Computer	$
Travel	$
Syndication	$
Advertising	$
U/W Printing	$
Transaction Fees (MSRB, PSA, etc.)	$
Freight & Communications	$
Closing Expenses	$
Underwriter’s Counsel Cost	$
Other (please specify)
___________________________________	$
___________________________________	$
TOTAL	$

ADFA expects to receive funds due at closing in the form of a wire transfer and plans to deposit those funds into their account the day of closing. Therefore, if the manager plans to charge for same day funds, the cost should be included as an expense item in this proposal. If it is not included, ADFA will assume there will be no charge for same day funds.

Any fees or expenses not included/disclosed will come directly out of the Underwriters Discount.

Jan-20-2026

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Waystone Batesville Family

NOTICE OF FINDING OF NO SIGNIFICANT IMPACT AND NOTICE OF INTENT TO REQUEST RELEASE OF FUNDS

January 20, 2026

Arkansas Development Finance Authority

1 Commerce Way, Suite 602

Little Rock, AR 72202

501-682-5900

These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

REQUEST FOR RELEASE OF FUNDS

On or about February 5, 2026, ADFA will submit a request to the U.S. Department of Housing and Urban Development (“HUD”) for the release of HOME funds under Title II of the Cranston-Gonzalez Affordable Housing Act of 1990, as amended, and National Housing Trust Fund (“NHTF”) funds under Title I of the Housing and Economic Recovery Act of 2008, as amended, to undertake a project known as Waystone Batesville Family for the purpose of constructing sixty (60) low-income multifamily units (and one (1) clubhouse) on vacant land located approximately north of 320 Broadwater Lane, Batesville, AR 72501. Of the sixty (60) new low-income units, eleven (11) will be HOME units [two (2) 1-bedroom High-HOME units, four (4) 2-bedroom High-HOME units, two (2) 3-bedroom High-HOME units, one (1) 1-bedroom Low-HOME unit, and two (2) 2-bedroom Low-HOME units] and two (2) units will be NHTF units [one (1) 1-bedroom NHTF unit and one (1) 2-bedroom NHTF units]. The funding amount is Two Million One Hundred Fourteen Thousand Four Hundred Thirty-One and 00/100 Dollars ($2,114,431.00) in HOME Funds, HUD Grant/Program Number #M-22-SG-05-0100 and Three Hundred Seventy-Nine Thousand Five Hundred and 00/100 Dollars ($379,500.00), HUD Grant/Program Number #F-24-SG-05-0100. The estimated total project cost is Eleven Million Nine Hundred Ninety-Nine Thousand Nine Hundred Thirty and 00/100 Dollars ($11,999,930.00).

FINDING OF NO SIGNIFICANT IMPACT

ADFA has determined that the project will have no significant impact on the human environment. Therefore, an Environmental Impact Statement under the National Environmental Policy Act of 1969 (NEPA) is not required. Additional project information is contained in the Environmental Review Record (ERR) on file at Arkansas Development Finance Authority, 1 Commerce Way, Suite 602, Little Rock, AR and may be examined or copied weekdays 8 A.M. to 4:30 P.M.

PUBLIC COMMENTS

Any individual, group, or agency may submit written comments on the ERR to ADFA. All comments received by February 4, 2026, will be considered by ADFA prior to authorizing submission of a request for release of funds. This notice document will be on the ADFA website at adfa.arkansas.gov from the date of this notice until the Authority To Use Grant Funds is issued by HUD. Comments should specify which Notice they are addressing.

ENVIRONMENTAL CERTIFICATION

ADFA certifies to HUD that Robert Arrington in his capacity as President of the Arkansas Development Finance Authority consents to accept the jurisdiction of the Federal Courts if an action is brought to enforce responsibilities in relation to the environmental review process and that these responsibilities have been satisfied. HUD’s approval of the certification satisfies its responsibilities under NEPA and related laws and authorities and allows Waystone Batesville Family LP to use Program funds.

OBJECTIONS TO RELEASE OF FUNDS

HUD will accept objections to its release of fund and ADFA’s certification for a period of fifteen days following the anticipated submission date or its actual receipt of the request (whichever is later) only if they are on one of the following bases: (a) the certification was not executed by the Certifying Officer of ADFA; (b) ADFA has omitted a step or failed to make a decision or finding required by HUD regulations at 24 CFR part 58; (c) the grant recipient or other participants in the development process have committed funds, incurred costs or undertaken activities not authorized by 24 CFR Part 58 before approval of a release of funds by HUD; or (d) another Federal agency acting pursuant to 40 CFR Part 1504 has submitted a written finding that the project is unsatisfactory from the standpoint of environmental quality. Objections must be prepared and submitted in accordance with the required procedures (24 CFR Part 58, Sec. 58.76) and shall be addressed to David Blick at HUD at 600 West Capitol Avenue, Suite #A400, Little Rock, AR 72201 or CPD_GeneralCorr-LIT@HUD.gov. Potential objectors should contact HUD to verify the actual last day of the objection period.

Robert Arrington, President of the Arkansas Development Finance Authority

Jan-20-2026

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Waystone Batesville Senior

NOTICE OF FINDING OF NO SIGNIFICANT IMPACT AND
NOTICE OF INTENT TO REQUEST RELEASE OF FUNDS

January 20, 2026

Arkansas Development Finance Authority

1 Commerce Way, Suite 602

Little Rock, AR 72202

501-682-5900

These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

REQUEST FOR RELEASE OF FUNDS

On or about February 5, 2026, ADFA will submit a request to the U.S. Department of Housing and Urban Development (“HUD”) for the release of HOME funds under Title II of the Cranston-Gonzalez Affordable Housing Act of 1990, as amended, to undertake a project known as Waystone Batesville Senior for the purpose of constructing forty (40) low-income multifamily units (and one (1) community room) on vacant land located approximately north of 480 Broadwater Lane, Batesville, AR 72501. Of the forty (60) new low-income units, nine (9) will be HOME units [four (4) 1-bedroom High-HOME units, three (3) 2-bedroom High-HOME units, one (1) 1-bedroom Low-HOME unit and one (1) 2-bedroom Low-HOME unit]. The funding amount is One Million Six Hundred Ninety-Two Thousand Seven Hundred Seventy-Eight and 00/100 Dollars ($1,692,778.00) in HOME Funds, HUD Grant/Program Number #M-22-SG-05-0100. The estimated total project cost is Seven Million Eight Hundred Fifty-Two Thousand Seven Hundred Seventy-Eight and 00/100 Dollars ($7,852,778.00).

FINDING OF NO SIGNIFICANT IMPACT

PUBLIC COMMENTS

ENVIRONMENTAL CERTIFICATION

OBJECTIONS TO RELEASE OF FUNDS

Robert Arrington, President of the Arkansas Development Finance Authority

Dec-18-2025

RFP – Administration and Implementation of the Single-Family New Construction Program – CDBG-DR 2025 – Amendment 1

The Arkansas Development Finance Authority (ADFA) is seeking proposals from qualified firms to administer and oversee the U.S. Department of Housing and Urban Development (HUD) Community Development Block Grant – Disaster Recovery (CDBG-DR) 2025 Single-Family New Construction (SFNC) Program.

The selected firm will be responsible for assisting the State in the design and for implementation of all aspects of the Single-Family New Construction Program in alignment with the Arkansas CDBG-DR 2025 Action Plan and the HUD Universal Notice (90 FR 1754, March 19, 2025 as amended).

REQUEST FOR PROPOSALS – Administration and Implementation of the Single-Family New Construction Program Community Development Block Grant – Disaster Recovery (CDBG-DR 2025) AMENDMENT NO. 1

Dec-05-2025

Notice of Availability of HOME-ARP Non-Congregate Shelter (NCS)Funding

HOME-ARP Non-Congregate Funding $6,382,683.00 to acquire, rehabilitate, or construct NCS housing units to serve individuals and families of the Qualifying Populations as defined in Notice CPD-21-10.

Applicants responding to this funding opportunity must be ready to build NCS housing within twelve (12) months of the award date.

The application period is December 8, 2025-March 9, 2026. Complete and competitive applications must be submitted via Portal by 4:30 p.m., Monday, March 9, 2026. Applications received after 4:30 p.m. will automatically be denied.

All documents, applications, application requirements, and forms can be found on ADFA’s website.

Request a Provider Number: Provider Setup Form

Applicants must obtain a Provider Number to access the Portal. If an applicant already has a Provider Number, it will not be necessary to obtain another Provider Number.

For more information about the application submission process through the ADFA Programs Portal, please call (501) 682-5929 or email alisa.green@arkansas.gov .

If you need this material in a different format, such as large print, please email alisa.green@arkansas.gov to submit a request.

Below is the link to the full funding notice. Please take the time to carefully review the application criteria, thresholds, and scoring matrix for this grant. NCS NOTICE

Contact Person: Alisa Green, Federal Housing Programs/ MITAS Coordinator, Phone Number:(501) 682-5929, Email: alisa.green@arkansas.gov or Lori Brockway, Federal Housing Programs Manager lori.brockway@arkansas.gov.

Lori Brockway
Federal Housing Programs Manager

Signed NCS NOFO

Full Notice – NCS NOFO

Dec-04-2025

Robert “Ro” Arrington Appointed President of Arkansas Development Finance Authority

LITTLE ROCK, AR – The Arkansas Development Finance Authority (ADFA) Board of Directors today selected Robert “Ro” Arrington as the agency’s next President. Arrington assumes the role immediately, succeeding Mark Conine, who served as ADFA President since May 2021.

“Ro brings exceptional expertise in public finance and a deep understanding of ADFA’s mission,” said Carey Smith, Chair of the ADFA Board of Directors. “His proven leadership and extensive experience make him the ideal choice to guide ADFA as we continue expanding affordable housing and economic development opportunities across Arkansas.”

Arrington has served ADFA since 2014 and most recently held the position of Vice President of Homeownership and Public Finance while serving as Interim President. In this capacity, he oversees all aspects of bond issuance for ADFA—the state’s largest bond issuer—and administers the Single Family Homeownership Program, which closed a record $323.5 million in mortgage loans in 2024.

“I am honored to lead this exceptional organization and continue ADFA’s vital work supporting Arkansas families and communities,” said Arrington. “Our team is dedicated to expanding access to affordable housing, strengthening local economies, and building a brighter future for all Arkansans.”

A former Municipal Securities Principal with over 25 years of public finance experience, Arrington has extensive expertise in all types of municipal bond structures.

Arrington is a graduate of the University of Arkansas at Fayetteville.

ADFA President Robert “Ro” Arrington

About ADFA

The Arkansas Development Finance Authority is an independent state instrumentality created to issue bonds and provide innovative financing for affordable housing, economic development, education and public infrastructure projects throughout Arkansas.

Date: December 4, 2025
Contact: Derrick Rose, Director of Communications
Phone: (501) 682-5904
Email: Derrick.Rose@Arkansas.gov

Nov-25-2025

REQUEST FOR PROPOSALS – Administration and Implementation of the Single-Family New Construction Program Community Development Block Grant – Disaster Recovery (CDBG-DR 2025)

The Arkansas Development Finance Authority (ADFA) is seeking proposals from qualified firms to
administer and oversee the U.S. Department of Housing and Urban Development (HUD)
Community Development Block Grant – Disaster Recovery (CDBG-DR) 2025 Single-Family New
Construction (SFNC) Program.

The successful firm must demonstrate direct experience in the design and implementation of
CDBG-DR or other HUD-funded housing programs, including housing development, construction
oversight, environmental compliance, and long-term recovery program management. Expertise in
federal requirements established under 2 CFR Part 200, 24 CFR Part 58, 24 CFR Part 570, and 24
CFR Part 75 will be viewed as an added benefit.

The selected firm will be responsible for assisting the State in the design and for implementation of
all aspects of the Single-Family New Construction Program in alignment with the Arkansas CDBGDR 2025 Action Plan and the HUD Universal Notice (90 FR 1754, March 19, 2025 as amended).

RFP – 2025 CDBG-DR PROGRAM – Single Family New Construction

Oct-20-2025

HOME – Notice of HOME funding availability for 2026 LIHTC applications

TO: Tax Credit Recipients and Tax Credit Applicants
DATE: October 16, 2025
FROM: Lori Brockway – Federal Housing Programs Manager John Blackwell – Director of Tax Credits
RE: HOME- Notice of HOME funding availability for 2026 LIHTC applications
_______________________________________________________________________________________________

1. The Arkansas Development Finance Authority (ADFA) hereby notifies interested Applicants of the availability of funds allocated from the HOME Investment Partnerships Program (HOME). The availability and use of these funds is subject to Federal HOME regulations (24 CFR Parts 91 and 92) and any amendments thereto, including the final regulations published by the Department of Housing and Urban Development (HUD) in the Federal Register on or about July 24, 2013, and is further subject to ADFA’s policies and program requirements.

2. ADFA anticipates that approximately three million dollars ($3,000,000) in HOME funds will be available per application, for the 2026 LIHTC applications. ADFA reserves the right to fund, in whole or in part, any, all, or none of the applications submitted in response to this notice. ADFA may also reallocate funds from this MEMO to other projects if it determines that such a substitution is necessary to further its administration of the program.

3. ADFA will not award more than $3,000,000 in HOME funds, per application submitted. ADFA’s award of the HOME funds will be subject to subsidy layering guidelines and underwriting criteria to ensure the project’s success. Eligible Applicants may submit only one application per property. The loan terms for the HOME dollars are as follows:

a. Applicants requesting $100,000 to $2,000,000 will sign a note that will bear interest at one percent (1%), with level amortization and monthly payments over (at the borrower’s election) (a) 20 years, or (b) the development’s LIHTC affordability period (30 or 35 years), in either case with the first payment deferred for one (1) year after the first placed-in-service date.

b. Applicants requesting $2,000,000 to $3,000,000 will sign a note that will bear interest at two percent (2%), with level amortization and monthly payments over (at the borrower’s election) (a) 20 years, or (b) the development’s LIHTC affordability period (30 or 35 years), in either case with the first payment deferred for one (1) year after the first placed-in-service date.

c. DCR cannot exceed 1.40 or loan term will need to be adjusted. d. Any HOME Loan that exceeds $2,000,000, requires that ADFA be in a first position.

4. HOME funds awarded in connection with an allocation of LIHTC will be in the form of a loan, as described in ADFA’s HOME Program Operations Manual and HOME/NHTF Rental guidebook. The loan will be evidenced by a promissory note and secured by a mortgage on the development. The mortgage may be subordinated to a mortgage on the development securing other debt. A number of units in the development equal to the amount of HOME funds awarded with respect to the development divided by the per unit subsidy limits identified in the HOME-Rental guidebook, and rounded up, will be subject to HOME affordability restrictions for a period determined in accordance with the information in the table appearing in the ADFA HOME Program Operations Manual under the heading “LONG-TERM AFFORDABILITY – Affordability Period.” Consistent with past practice, a successful LIHTC applicant’s acceptance of HOME funds will not require the applicant to place that program’s affordability restrictions on units that are not to be under LIHTC restrictions. Rather, that program’s affordability restrictions may be placed on units that will be subject to LIHTC affordability restrictions as well. An applicant who receives both HOME and NHTF money may not, however, use the same unit to satisfy both low HOME and NHTF affordability requirements. Further, as provided in the QAP, applicants who are awarded points for designating at least five percent of a development’s units to serve households whose incomes are 30% or less of the area median income may not use the same units to satisfy low HOME affordability requirements.

Sep-23-2025

2026 ADFA Board Meeting Schedule Announcement

To: All ADFA Stakeholders
From: ADFA
Date: September 23, 2025
Subject: 2026 ADFA Board Meeting Schedule Announcement

Arkansas Development Finance Authority (ADFA) is pleased to announce the official meeting schedule for our Board of Directors in 2026.

As we approach the end of 2025, please note that there are two more regularly scheduled meetings: the ADFA Fall Board Strategic Planning Retreat and Board Meeting on October 15-16, 2025, and the final combined November & December board meeting on December 4, 2025.

Here is the ADFA Board Meeting Schedule for 2026:

Thursday, January 15, 2026
Thursday, February 19, 2026
Thursday, April 16, 2026
Thursday, May 21, 2026
Thursday, July 16, 2026
Thursday, August 20, 2026
Thursday, October 15, 2026
Thursday, December 3, 2026

Please mark your calendars accordingly and stay tuned for updates regarding meeting locations and additional information.

Sep-09-2025

REQUESTING RESUMES FOR POSITION OF ADFA PRESIDENT

Directs all activities of Arkansas’ housing and development finance authority as outlined and permitted by state law, including serving the Board of Directors of the Arkansas Development Finance Authority and the Office of the Governor of the State of Arkansas as well as leading a staff of more than 55 employees on a day-to-day basis.

TYPICAL FUNCTIONS:

The President of the Arkansas Development Finance Authority (ADFA) leads and manages a staff of professionals and employees responsible for various duties related to public finance, housing, student loans and economic development.

• Plans, develops, and oversees interpretation and implementation of policies and objectives of organization in accordance with board directives and organizational statutes;

• Reviews activity reports and financial statements to determine progress and status in attaining objectives and revises objectives and plans in accordance with current market conditions;

• Establish internal control policies to ensure accuracy, completeness, and security of financial reporting;

• Assemble teams of professionals to issue bonds for public and private projects. Work with bond attorneys, investment firms, and trustees to structure bond issuances and trust indentures;

• Create and execute mortgage revenue bond programs, along with designing down-payment assistance programs to maximize opportunities for first-time homebuyers;

• Manage profitability, risk, and IRS compliance of mortgage programs, collaborate with venture capital companies and funds to provide equity investment for new Arkansas businesses;

• Administer Arkansas Venture Capital Investment Trust on behalf of the State.

• Plan and develop organizational, staff, and public relations outreach designed to improve outreach and relations with stakeholders and the public;

• Collaborate with executive branch and other elected officials on public policy that furthers the priorities of the executive branch, carries out legislative intent, and increases the organization’s mission;• Advises the Governor’s Office and Legislature on matters when requested, particularly regarding bond financings, economic development projects, the state general obligation credit rating, state and federal affordable housing issues, and other debt financings of the State and/or other agencies.

Knowledge, Abilities, and Skills

• Strong knowledge and understanding of asset-backed securitization, particularly tax-exempt bond financings and public finance generally.

• Public finance, banking, mortgage lending, real estate, economic development and/or affordable housing knowledge and/or experience desired.

• Experience working with the State Legislature and U.S. Congressional delegation helpful.

• Experience developing presentations and public speaking desired.

Minimum Education and/or Experience

Bachelor’s degree or equivalent with ten years business experience (banking, finance, legal or other related fields)

Preferred Qualifications

Certified Public Accountant or Juris Doctorate, or equivalent preferred.

Interested candidates should submit their resumes via email to the following confidential address: adfa.hr@arkansas.gov .

Sep-02-2025

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – The Villas at Spring Valley

These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – The Villas at Spring Valley

Sep-02-2025

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Timber Ridge

These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Timber Ridge

Sep-02-2025

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Pine Ridge Place

These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Pine Ridge Place

Sep-02-2025

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Mount Ida Housing

These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Mount Ida Housing

Jul-30-2025

Arkansas Development Finance Authority Announces 2025 Affordable Housing Tax Credit Developments

Allocations will spur affordable housing creation and robust construction jobs

LITTLE ROCK, Ark. — The Arkansas Development Finance Authority announced today that it will award $104,962,000 in federal 9% Low-Income Housing Tax Credits (LIHTC) to 10 multifamily housing developments across Arkansas. The 2025 awards are expected to generate about $84.5 million in equity from private investors and support the development of 524 affordable rental units. Approximate total development cost is $110 million.

“As reported by the National Association of Home Builders, constructing 100 rental apartments typically generates 161 local jobs,” stated Rod Coleman, chair of the ADFA Board Housing Review Committee. “Based on this, our developments will create approximately 805 direct and indirect jobs during the 12-to-24-month construction phase. Additionally, ongoing property management, maintenance, and other services will contribute to the creation of 231 full-time positions. This investment represents a substantial commitment to Arkansas’ economy, delivering meaningful returns for the state and its residents.”

The awarded developments are located in eight counties across the state: Grant, Hempstead, Independence, Johnson, Lonoke, Montgomery, Pulaski, and Washington. Eight of the properties will provide workforce housing for families and two will be built exclusively for senior tenants.

Applicants who receive an allocation of tax credits agree to maintain the development as affordable housing for 30 to 35 years. The properties are monitored for quality and program compliance by ADFA.

“These federal tax credit awards will produce vital affordable housing needed for hard working families and retired Arkansans,” said Mark Conine, ADFA President. “These projects reflect our goal of creating more affordable housing opportunities in every corner of the state.”

2025 Arkansas Low-Income Housing Tax Credit Awardees

Avalon at Clarksville
Location: Clarksville/Johnson County
Total Development Cost: $11,976,435
LIHTC (Federal): $1,221,000
Total Units: 60

Avalon at Hope
Location: Hope/Hempstead County
Total Development Cost: $11,953,761
LIHTC (Federal): $1,221,000
Total Units: 60

Enclave Estates at Batesville
Location: Batesville/Independence County
Total Development Cost: $11,956,054
LIHTC (Federal): $1,221,000
Total Units: 60

Homes at Willow Bend
Location: Fayetteville/Washington County
Total Development Cost: $12,399,999
LIHTC (Federal): $1,193,500
Total Units: 62

Mount Ida Housing
Location: Mount Ida/Montgomery CountyTotal Development Cost: $5,237,691
LIHTC (Federal): $360,800
HOME Funds: $1,125,000
NHTF Funds: $940,000
Total Units: 18

Pine Ridge Place
Location: Little Rock/Pulaski County
Total Development Cost: $12,594,933
LIHTC (Federal): $1,235,300
HOME Funds: $2,000,000
NHTF Funds: $466,486
Total Units: 61

Timber Ridge
Location: Sheridan/Grant County
Total Development Cost: $12,506,556
LIHTC (Federal): $1,201,200
HOME Funds: $1,720,000
NHTF Funds: $1,000,000
Total Units: 60

Villas at Spring Valley (Senior)
Location: Cabot/Lonoke County
Total Development Cost: $9,894,000
LIHTC (Federal): $884,400
HOME Funds: $2,000,000
NHTF Funds: $642,645
Total Units: 46

Waystone Batesville Family
Location: Batesville/Independence County
Total Development Cost: $11,999,930
LIHTC (Federal): $1,188,000
HOME Funds: $2,114,431
NHTF Funds: $379,500
Total Units: 60

Waystone Batesville Senior
Location: Batesville/Independence County
Total Development Cost: $7,852,778
LIHTC (Federal): $770,000
HOME Funds: $1,692,778
Total Units: 40

For more information about the Low-Income Housing Tax Credit Program visit adfa.arkansas.gov .

###

About the Arkansas Development Finance Authority (ADFA)

The Arkansas Development Finance Authority (ADFA) is dedicated to promoting economic growth and community development across the state. Since 1985, ADFA has provided affordable financing options for business expansion, housing initiatives, infrastructure, public health initiatives, and higher education funding.

ADFA operates as an independent instrumentality of the state, vested with the authority to perform essential financing functions to further the state’s economic development objectives.

Jul-01-2025

Notice of Availability of Emergency Solutions Grant Funding

Arkansas Development Finance Agency, (ADFA)
PO Box 8023
Little Rock, AR 72203-8023

Contact Person: Pagan Williams, Project Supervisor, Horne LLP, on behalf of the Arkansas ESG,
Phone Number:(479) 265-4116, Email: ArkansasESG@horne.com

‘
Susan Gardner, Federal Housing Programs Asst Mgr / Software Programs Coordinator,
Phone Number: (501) 682-5931. Email: Susan.Gardner@arkansas.gov

Notice of Availability of Emergency Solutions Grant Funding

The Arkansas Development Finance Authority (ADFA) has opened the Emergency Solutions Grant (ESG)
Application for the 2025-2026 grant year. The purpose of the program is to help improve the quality of
existing emergency shelters for the homeless, make available additional shelters; help meet the cost of
operating shelters; help prevent homelessness and assist in placing people in permanent housing as
quickly as possible.

The application period is: July 11-August 14, 2025. Complete and competitive applications must be
submitted via the Portal by 4:30 p.m., August 14, 2025. Applications received after 4:30 p.m. will
automatically be denied.

Before submitting your application through the portal, you must first submit it to your Continuum of Care
(CoC) for a preliminary review to ensure alignment. ESG Applications are required to be submitted through
the ADFA Programs Portal. Applicants must obtain a Provider Number to access the Portal. If an applicant
already has a Provider Number, it will not be necessary to obtain another Provider Number. Click the link
below to request a Provider Number.

Request a Provider Number: ESG Provider Setup Form

A virtual webinar will be held on July 10th at 10am. Mandatory attendance is expected to apply for the
ESG program. Register in advance for this meeting. After registering, you will receive a confirmation email
containing information about joining the meeting.

Register Here

For more information about the application submission process through the ADFA Programs Portal, please
call the Arkansas Development Finance Authority (ADFA) at (501) 682-5931. If you need this material in a
different format, such as large print, please email ArkansasESG@horne.com to submit a request.

The Arkansas Development Finance Agency (ADFA) is in compliance with Titles VI and VII of the Civil Rights
Act and operates, manages and delivers services without regard to age, religion, disability, political
affiliation, veteran status, sex, race, color, or national origin.

Lori Brockway
Federal Housing Programs Manager

Jun-30-2025

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Walnut Commons

These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

NOTICE OF FINDING OF NO SIGNIFICANT IMPACT AND NOTICE OF INTENT TO REQUEST RELEASE OF FUNDS – WALNUT COMMONS

Jun-24-2025

DRAFT – Affordable Housing Compliance Manual – 2025

ADFA Compliance Department under the guidance of US Housing Consultants has drafted a New Affordable Housing Compliance Manual for our Low Income Housing Tax Credit, HOME and National Housing Trust Funds Programs.

The draft copy has been placed on our ADFA Website under the Compliance and Monitoring Section under the Low Income Housing Tax Credit Program tab for our partners review of the changes for the new federally-mandated rules under HOTMA.

Please Note: The attached guidelines are required for compliance with new federally-mandated rules. ADFA is limited in what aspects of the Affordable Housing Compliance Manual can be changed, and this notice is being posted primarily to alert developers and others of the pending change.

DRAFT – AFFORDABLE HOUSING COMPLIANCE MANUAL – 2025

Please send any comments via email to Tammy White – tammy.white@arkansas.gov

May-30-2025

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Southeast Estates Senior Cottages

These notices shall satisfy two separate but related procedural requirements for activities
to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

NOTICE OF FINDING OF NO SIGNIFICANT IMPACT AND NOTICE OF INTENT TO REQUEST RELEASE OF FUNDS – SOUTHERN ESTATES SENIOR COTTAGES

May-30-2025

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Southeast Estates

These notices shall satisfy two separate but related procedural requirements for activities
to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

NOTICE OF FINDING OF NO SIGNIFICANT IMPACT AND NOTICE OF INTENT TO REQUEST RELEASE OF FUNDS – SOUTHEAST ESTATES

May-13-2025

Notice of Finding of No Significant Impact & Notice of Intent to Request Release of Funds – Stone Ridge at Springdale Phase II

These notices shall satisfy two separate but related procedural requirements for activities
to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

NOTICE OF FINDING OF NO SIGNFICANT IMPACT AND NOTICE OF INTENT TO REQUEST RELEASE OF FUNDS – STONE RIDGE AT SPRINGDALE PHASE II

Apr-24-2025

Public Comment – Policy on Good Standing

Memo

To: Applicants for loans, financing, tax credits, awards and other benefits through the Arkansas Development Finance Authority

From: Jake Bleed, General Counsel

Date: 4/24/25

RE: Policy on Good Standing
____________________________________________________________________________________________

The following policy has been proposed for adoption by the Arkansas Development Finance Authority. Questions, comments or concerns on the adoption of this policy should be sent to Jake Bleed, general counsel of the Arkansas Development Finance Authority, via email to jake.bleed@arkansas.gov or via mail to the following address:

Jake Bleed, General Counsel
Arkansas Development Finance Authority
1 Commerce Way, Suite 602
Little Rock, Arkansas, 72201

Proposed Policy:

“The Authority shall take no action on a request by a third-party entity, including approval of additional loans, grants or provision of additional benefits of any kind, unless and until a finding that the requesting entity or any parties reasonably associated with the requesting entity are in Good Standing with the Authority.

For purposes of the proposed policy, “Good Standing” is defined as:

a) A finding that the requesting entity or any parties reasonably associated with the requesting entity are in full compliance with all outstanding legal and contractual obligations to the Arkansas Development Finance Authority in effect at the time of review; and

b) A determination that the requesting entity or any parties reasonably associated with the requesting entity has paid all fees, payments or other financial obligations owed to the Authority are paid in full at the time of review.

A finding of Good Standing will be made in writing and provided upon request of either the third-party entity or the President of the Authority. Any finding of less than Good Standing will be submitted to the requesting entity in writing and supported by documentation of outstanding obligations owed to the Authority by the requesting entity.

Entities who wish to contest a finding of less-than Good Standing may submit facts supporting their challenge to the Authority. The President of the Authority, with the approval of the Board of the Authority, may waive the requirement of Good Standing upon a finding that the action requested is supported by compelling facts and the requesting entity cannot obtain Good Standing status with reasonable effort.”

Apr-16-2025

NOTICE OF FINDING OF NO SIGNFICANT IMPACT AND NOTICE OF INTENT TO REQEST RELEASE OF FUNDS – THE BLUFFS AT SHACKLEFORD

These notices shall satisfy two separate but related procedural requirements for activities
to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

NOTICE OF FINDING OF NO SIGNFICANT IMPACT AND NOTICE OF INTENT TO REQEST RELEASE OF FUNDS – THE BLUFFS AT SHACKLEFORD

Mar-25-2025

NOTICE OF FINDING OF NO SIGNFICANT IMPACT AND NOTICE OF INTENT TO REQEST RELEASE OF FUNDS

NOTICE OF INTENT TO REQUEST RELEASE OF FUNDS

These notices shall satisfy two separate but related procedural requirements for activities to be undertaken by the Arkansas Development Finance Authority (“ADFA”).

FONSI ~ Town Green

FONSI ~ Town Green Senior Housing

FONSI ~ Harrison Estates

FONSI ~ Harrison Estates Senior Housing

Mar-17-2025

REQUEST FOR PROPOSALS – CDBG-DR – GENERAL GRANT COORDINATION & PROJECT MANAGEMENT

General Grant Coordination and Project Management Community Development Block Grant – Disaster Recovery (CDBG-DR)

INTRODUCTION

ADFA is soliciting proposals from interested firms and individuals to provide General Grant Coordination and Management and Project Management Services for a Community Development Block Grant – Disaster Recovery (CDBGDR grant). ADFA has received approximately $59,048,000 in overall CDBG-DR funding. ADFA will receive proposals from Proposers having specific experience and qualifications in the area identified in this solicitation. For consideration, proposals for this project must contain evidence of the Proposer’s experience and abilities in the specified area and other disciplines directly related to the proposed service.

QUALIFICATIONS

The Proposer must show to the complete satisfaction of ADFA that it has the necessary facilities, ability, and financial resources to provide the services specified herein in a satisfactory manner. The Proposer should also give a past history and references in order to satisfy ADFA in regard to the Proposer’s qualifications. ADFA may make reasonable investigations deemed necessary and proper to determine the ability of the Proposer to perform the work, and the Proposer shall furnish to ADFA all information for this purpose that may be requested. ADFA reserves the right to reject any offer if the evidence submitted by, or investigation of, the Proposer fails to satisfy ADFA that the Proposer is properly qualified to carry out the obligations of the contract and to complete the work described therein.

Evaluation of the Proposer’s qualifications shall include:

A. The ability, capacity, skill, financial and other necessary resources to perform the work or provide the service required;
B. The ability to perform the work or provide the service promptly or within the time specified, without delay or interference; C. The character, integrity, reputation, judgment, experience, and efficiency of the Proposer, and;
D. The quality of performance of previous contracts or services.

*Respondents must provide a listing of the personnel to be assigned to the project, including organizational structure and each person’s area of responsibility. Resumes for each professional assigned to this project are also required. Responders must have sufficient and qualified staff immediately available to contract solicitations and to enter into and manage any components targeted by the RFP.

SCOPE OF WORK

A. General Statement:
ADFA requests proposals for services of providing an approved CDBG-DR Action Plan.

B. Supporting Data: Additional information on the Action Plan can be found in the Universal Notice on ADFA’s website. This can be found at: Community Development Block Grant Disaster Recovery (CDBG-DR) – Arkansas Development Finance Authority.

C. Specifically, ADFA requests the following services to be provided: 1. Action Plan and program development and support including Action Plan amendments.

TIMELINE

It is expected that the Grant Coordination and Management and Project Management process will begin May 1, 2025.

RFP Issued: March 17, 2025
RFP Responses due: April 7, 2025, by 4:30 p.m.
Selection of Consultant: April 18, 2025

ADFA reserves the right to make adjustments as needed to the above schedule.

QUESTIONS

Please direct all questions to: lori.brockway@arkansas.gov

SUBMISSION REQUIREMENTS

A consultant, firm, or combination thereof wishing to submit a proposal must include the following in their response:

• A brief history of the proposing entity, including general background, knowledge of housing, and experience working with relevant agencies.
• Resumes of the personnel assigned to the project.
• A statement substantiating the resources of the proposing entity and the ability to carry out the scope of work requested within the proposed timeline.
• Proposed fee structure, including billing rates, hourly rates, reimbursable expenses, etc. Preferences will be given to firm fixed pricing.
• References including contact information for at least three organizations.
• At least one (1) example of work.
• A statement of conflicts (if any) the proposing entity or key employees may have regarding these services. The statement should include conflicts, as well as any working relationships that may be perceived by disinterested parties as a conflict. If no potential conflicts of interests are identified, please state so.

SELECTION CRITERIA

Proposals will be reviewed and evaluated by staff.

Criteria for evaluation will include:
5% Proposal for accomplishing the tasks listed in Project Scope
70% Cost
20% Capacity to perform the services within the established timeframe
5% References

RFP SUBMISSION PROCESS Due-April 7, 2025, by 4:30 p.m. Sealed proposals must be received in the ADFA office at the address referenced below. Submittals should include three hard copies including signatures. EDIT – E-mail proposals will be accepted at lori.brockway@arkansas.gov . No fax transmission will be accepted.

Department of Commerce-ADFA
Suite 602
1 Commerce Way
Little Rock, AR 72120

Proposing entities must note on the outside of their proposal package:

REQUEST FOR PROPOSALS
ADFA- CDBG-DR SERVICES

Dec-27-2024

NOTICE OF FINDING OF NO SIGNFICANT IMPACT AND NOTICE OF INTENT TO REQUEST RELEASE OF FUNDS

December 27, 2024

Arkansas Development Finance Authority
1 Commerce Way, Suite 602
Little Rock, AR 72202
501-682-5900

These notices shall satisfy two separate but related procedural requirements for activitiesto be undertaken by the Arkansas Development Finance Authority (“ADFA”).

REQUEST FOR RELEASE OF FUNDS

On or about January 13, 2025, ADFA will submit a request to the U.S. Department of Housing and Urban Development (“HUD”) for the release of HOME funds under Title II of the Cranston-Gonzalez Affordable Housing Act of 1990, as amended, to undertake a project known as McAuley Place Apartments Phase II for the purpose of constructing sixty (60) low income multifamily units on vacant land located at approximately 4322 SW I Street, Bentonville, AR 72712. The funding amount is Three Million and 00/100 Dollars($3,000,000.00) in HOME Funds, HUD Grant/Program Number #M-21-SG-050100. The estimated total project cost is Twelve Million Three Hundred Sixty-Three Thousand Two Hundred Four and 00/100 Dollars ($12,363,204.00).

FINDING OF NO SIGNIFICANT IMPACT

ADFA has determined that the project will have no significant impact on the human environment. Therefore, an Environmental Impact Statement under the National Environmental Policy Act of 1969 (NEPA) is not required. Additional project information is contained in the Environmental Review Record (ERR) on file at Arkansas Development Finance Authority, 1 Commerce Way, Suite 602, Little Rock, AR and may be examined or copied weekdays 8 A.M. to 4:30 P.M.

PUBLIC COMMENTS

Any individual, group, or agency may submit written comments on the ERR to ADFA. Allcomments received by January 11, 2025 will be considered by ADFA prior to authorizing submission of a request for release of funds. Comments should specify which Notice they areaddressing.

ENVIRONMENTAL CERTIFICATION

ADFA certifies to HUD that Lori Brockway in her capacity as Federal Housing Programs Manager consents to accept the jurisdiction of the Federal Courts if an action is brought to enforce responsibilities in relation to the environmental review process and that these responsibilities have been satisfied. HUD’s approval of the certification satisfies its responsibilities under NEPA and related laws and authorities and allows Bentonville 2024 Education Workforce Housing LP to use Program funds.

OBJECTIONS TO RELEASE OF FUNDS

HUD will accept objections to its release of fund and ADFA’s certification for a period of fifteen days following the anticipated submission date or its actual receipt of the request(whichever is later) only if they are on one of the following bases: (a) the certification was not executed by the Certifying Officer of ADFA; (b) ADFA has omitted a step or failed to make a decision or finding required by HUD regulations at 24 CFR part 58; (c) the grant recipient or other participants in the development process have committed funds, incurred costs or undertaken activities not authorized by 24 CFR Part 58 before approval of a release of funds by HUD; or (d) another Federal agency acting pursuant to 40 CFR Part 1504 has submitted a written finding that the project is unsatisfactory from the standpoint of environmental quality. Objections must be prepared and submitted in accordance with the required procedures (24 CFR Part 58, Sec. 58.76) and shall be addressed to HUD at 425 W.Capitol, Suite 1000, Little Rock, AR. Potential objectors should contact HUD to verify the actual last day of the objection period.
‍

Lori Brockway, Federal Housing Programs Manager

Dec-05-2024

NOTICE OF FUNDING AVAILABILITY FOR EMERGENCY SOLUTIONS GRANT (ESG) FUNDS

Notice of Funding Availability for Emergency Solutions Grant (ESG) FundsThe Arkansas Development Finance Authority (ADFA) has opened the Emergency Solutions Grant (ESG) Application for the 2024-2025 grant year. The purpose of the program is to help improve the quality of existing emergency shelters for the homeless, make available additional shelters; help meet the cost of operating shelters; help prevent homelessness and assist in placing people in permanent housing as quickly as possible.

NOTICE OF FUNDING AVAILABILITY FOR EMERGENCY SOLUTIONS GRANT (ESG) FUNDS