ALICE (Asset Limited, Income Constrained, Employed)

ALICE Households Are:

• Your everyday people
• Working two or more jobs
• Contributing to the economy as taxpayers
• Cost of living continues to outpace their earnings 

The City of Pine Bluff, along with partners like Simmons Bank and Go Forward Pine Bluff, have responded to research on ALICE (Asset Limited, Income Constrained, yet Employed) Families, sponsored by the Winthrop Rockefeller Foundation. Led by Go Forward Pine Bluff, this coalition has enabled ALICE families in the Pine Bluff Metropolitan Statistical Area to access 100% financing over 30 years through Simmons Bank, which has committed $2 million for a 97% financing option to rejuvenate a specific Pine Bluff area. With $300,000 raised, including contributions from Liberty Utilities and United Way, Go Forward Pine Bluff initiated a down payment and closing cost assistance loan fund. Homeowners can obtain the remaining 3% financing by joining the Pine Bluff Homeowner's Association, which, in collaboration with the Pine Bluff Housing Authority, offers educational support. Relyance Bank manages the down payment assistance loan. This initiative aims to promote fair homeownership and reduce living costs for ALICE families. Additionally, Mayor Shirley Washington plans to introduce legislation to support new construction or home rehabilitation in the targeted area, fostering community development and investment.