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Our Appeal To You

 

How you help us…

It’s hard to believe. This year Argenta CDC marked 18 years of transforming
the landscape of downtown North Little Rock and surrounding areas and
helping families turn their American Dream into reality. We do this in
partnership with government, nonprofit organizations, businesses and individuals
like you. Over the years, these partnerships have allowed us to:

  • Increase affordable homeownership in Central Arkansas through rehabilitation
    and new construction
  • Provide home ownership counseling and education services to thousands
    of Arkansans
  • Stabilize fragile neighborhoods for low-income families and provide
    a safe and decent place to live
  • Work closely with parents who are committed to building a better future
    for themselves and their children
  • Spur the return, growth and creation of commercial and other development
    opportunities in downtown North Little Rock
  • Improve the real estate climate in targeted neighborhoods by increasing
    property values and creating investment and reinvestment opportunities
  • Increase the city’s tax base, creating less demand on individual taxpayers
    while increasing government revenues

We believe that our service to the community is integral to creating and maintaining safe vibrant communities. That is why we depend on a wide range of supporters to offer the following programs:

Neighborhood Stabilization Program: In September 2010, North Rock Neighborhood Stabilization Program (NSP I and NSP II). NSP, supported by federal stimulus funds and administered and monitored by the Department of Housing and Urban Development, was created to stabilize distressed communities across the nation by purchasing, rehabilitating and newly constructing foreclosed and abandoned properties. North Little Rock (the City) received a total $8.43 million.

For NSP I, the City submitted a grant and received $2.03 million from the Arkansas Development Finance Authority who serves as the administrator of the more than $19 million of NSP I funds that were awarded to the state in 2009. In fact, all states received a portion of the $3.9 billion in NSP I funding that was allocated based on how deeply devastated they were by the foreclosure crisis. Argenta Community Development Corporation (Argenta CDC) will be the housing developer for NSP I overseeing the construction of 13 new homes in the Baring Cross Neighborhood, located along Pike Avenue.

As a consortium, Argenta CDC, Habitat for Humanity Pulaski County, North Little Rock Housing Authority and the City (lead grantee) were awarded $6.4 million for NSP II in a nationally competitive grant where applicants detailed their ideas and goals on how they would stem the wave of foreclosed and abandoned properties and revitalize their neighborhoods. Five hundred applications were received that totaled more than $15 billion. Fifty-six applications from 28 states were funded for an allotted $1.93 billion. Collectively, the consortium will redevelop at least 100 units of housing in selected census tracts in North Little Rock including the Baring Cross and Holt Neighborhoods.

NSP homes will be sold and rented to very low to middle-income households whose incomes do not exceed 120 percent of area median income. For example, a family of four can earn a maximum of $70,900 for the Little Rock – North Little Rock – Conway MSA and qualify for an NSP home. Some potential homeowners will be eligible for down payment assistance. All potential homebuyers must attend an eight-hour homebuyer education class presented by a certified HUD counseling agency.

Home Ownership Education and Counseling: Home ownership educational
services are needed now more than ever with the current housing climate.
Central Arkansas is fortunate to have in Argenta CDC a top-notch
NeighborWorks® America home ownership center with trained and certified staff
educating clients from start to finish about purchasing a home and the
accompanying responsibilities. Your support also helps us provide needed down
payment assistance to qualified borrowers. Each year we assist over 500 clients
throughout Arkansas and we expect to see dramatic increases in the coming
years. We need your support to accommodate this vital outreach.

Building Green: In 2007 our commitment to the revitalization of Holt
Neighborhood in North Little Rock provided us with an opportunity to reassess
our development practices, leading us to more environmentally friendly
construction and our Building Green Initiative. This is a partnership between the
Argenta CDC and the Arkansas Chapter of the U.S. Green Building Council
(USGBC). We share the mission of designing and constructing affordable
energy-efficient homes for the health and well being of low-to-moderate-income
families.The first group of homes in this development has
earned a Gold LEED-H designation from the USGBC Leadership in Energy and
Environmental Design (LEED) for Homes program and proceeding homes have earned other LEED-H designations.These homes are the first in
Arkansas to earn a residential LEED designation
.