ADFA Approves 14 Projects for 2012 Funding

The Arkansas Development Finance Authority on Thursday approved 14 project applications for the development or rehabilitation of 747 affordable multi-family rental units across the state for those with special support needs.

Eleven of the projects approved are for acquisition and rehab of existing properties and three are for new construction.

For the 2012 cycle, ADFA awarded $6,555,264 in federal low-income housing tax credits; $250,000 in state credits, and roughly $2.8 million in other federal funds, according to a news release.

Included in the developments that received 2012 funding are the Albert Pike Hotel and Asbury Park apartments in Little Rock.