Ark. agency lends nearly $18M for 200-plus homes

LITTLE ROCK, Ark. (AP) - Housing agencies and developers in five Arkansas cities will get nearly $18 million in loans from the Arkansas Development Finance Authority to build more than 200 homes for low-income households.

The no-interest loans approved Thursday by the ADFA board will go to help finance housing developments in Little Rock, North Little Rock, Fort Smith, Fayetteville and Rogers.

The money is to be used to help neighborhoods destabilized by housing foreclosures and abandonment, according to a news release.

(Copyright 2009 by The Associated Press. All Rights Reserved.)