CADC to explain individual development account program

By The Arkansas Democrat-Gazette

BENTON - The Central Arkansas Development Council will hold Individual Development Account orientations in Benton, Malvern and Arkadelphia this week. Interested individuals will be given applications at the orientation.

In Benton, an IDA orientation will be held at 6 p.m. Monday at the Arkansas Workforce Center at 309 S. East St. For more information, contact Valerie Ramsey or Michelle Hood at (501) 315-0885.

In Malvern, an IDA orientation will be held at 5:30 p.m. Tuesday at the Arkansas Workforce Center at 1735 E. Sullenberger. For more information, contact Wendy Stephens at (501) 337-8401.

In Arkadelphia, an IDA orientation will be held at 5:30 p.m. Wednesday at the Community Family Enrichment Center at 301 N. 23rd St. For more information, contact Tia Thomas at (870) 246-8089.

IDA's are matched savings accounts. IDAs can provide money to open or expand a small business, help pay for college expenses, purchase a home or make home repairs. Persons who qualify can receive up to $2,000 per individual or $4,000 per family.

To be eligible, the individual or family must meet income guidelines, which for this program is 185 percent of the federal poverty level. According to a release from the CADC, based on these guidelines, a one-person household must make less than $1,603 per month to qualify for this program. For each additional family member, add $555 to the monthly income to determine eligibility.

Tri-Lakes, Pages 129 on 03/09/2008