LITTLE ROCK — Finance authority OKs 14 rental-unit projects
The Arkansas Development Finance Authority’s board of directors has approved 14 applications for assistance in developing or renovating 747 affordable multifamily rental units across the state, according to a news release Thursday.
Eleven of the projects approved are for existing properties and three are for new construction.
Two of the renovation properties are in Little Rock: The former Albert Pike Hotel has been awarded $625,000 in federal tax credits, and Asbury Park apartments will receive $600,000 in federal tax credits and $250,000 from the Finance Adjustment Factor/Below Market Interest Rate Program.
Others are in Arkadelphia, Ash Flat, Blytheville, Farmington, Helena-West Helena, Holly Grove, Hot Springs, Russellville and West Memphis.
The money for the projects comes from more than $6.5 million in federal lowincome housing tax credits, about $1.2 million in Home Program funds and $250,000 in state low-income housing tax credits. Money also comes from Home Community Housing Development Organization funds and the Finance Adjustment Factor/ Below Market Interest Rate program.
Harrison, Eureka to get Verizon 4G
Verizon Wireless said Thursday that Harrison and Eureka Springs are among 46 U.S. markets that will become part of its 4G Long Term Evolution Network.
The company said download speeds to mobile devices will be up to 10 times faster when the network expansion is complete.
Many larger Arkansas cities already have the 4G network, including the Little Rock, Fayetteville, Fort Smith and Jonesboro metro areas.
A variety of wireless devices, including tablets and smart phones such as Samsung Galaxy S III, available now, and the soon-tobe-available Droid Incredible 4G LTE by HTC, will be available to exploit the faster service, Verizon said.
Index sheds 6.17 as 15 of 16 slide
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, plunged 6.17 to 218.07 Thursday.
“U.S. stocks sank on Thursday, dropping the most in three weeks, following disappointing U.S. economic data and increasing concerns over global growth,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock.
“The Arkansas Index moved lower as 15 stocks declined and one advanced.”
Dillard’s lost 4.4 percent in below-average volume.
First Federal Bancshares was the only winner, gaining 2.9 percent on more than double its average volume.
Volume was 25.6 million shares, compared with average daily volume of 28.1 million shares.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 25 on 06/22/2012