A New Leader for Arkansas' Biggest Bond Issuer

Robert "Ro" Arrington has been appointed as the permanent president of the Arkansas Development Finance Authority (ADFA), the state's largest bond issuer. Arrington had been serving as the interim president since August 2023, following the departure of Mark Conine.

Background and Experience

Arrington has been with the ADFA since 2014, previously serving as the vice president. In this role, he managed the authority's bond issuance and a homeownership program. Last year, this program facilitated a record-breaking $323.5 million in mortgage loans.

Leadership and Responsibilities

As the new president, Arrington will lead a team of over 55 employees and oversee the state's bond programs. These programs support economic development, housing, and education projects. The ADFA was established in the 1980s by former Governor Bill Clinton.

Praise and Future Plans

Carey Smith, the board chair, commended Arrington's leadership, stating that he is the right person to expand affordable housing and economic opportunities in Arkansas.

Legislative Changes

Recently, state lawmakers passed Act 994, allowing the ADFA to operate independently from the Department of Commerce. The previous leader, Conine, believed this change would attract more capital and accelerate affordable housing development.

Education and Career

Arrington studied at the University of Arkansas in Fayetteville. Before joining the ADFA, he held public finance roles at Arkansas-based investment banks.