TAMPA, Fla., Jul 15, 2010 (BUSINESS WIRE) -- American Community Development Group, Inc. (Pink Sheets: ACYD) announced today that, effective September 30, 2009, it acquired multiple housing units that will shelter up to 24 ex-offenders and other individuals. The initial agreement is expected to generate about $120,000 in recurring annual revenue. "We will add additional properties, thereby rapidly increasing cash flow while reducing overhead expenses through consolidation," stated John Folger, President and CEO.
American Community Development Group, Inc. (ACDG) is a for-profit corporation founded to provide economic support and management guidance to the nonprofit community. "We believe in the concept of 'Social Entrepreneurship'," stated Jeffrey Staller, President of Heritage Corporate Services. "We have the task and privilege of assisting the non-profit community while also creating strong economic returns on capital."
ACDG has chosen this growth field because it offers constant expansion and a socially conscious application, focusing on the talents of the founders. ACDG has signed agreements with non-profits that are providers of various services while also operating missions for the homeless, veterans, ex-offenders, drug and alcohol programs, and housing facilities for other disadvantaged persons in the Tampa Bay, Florida area.
Affordable Housing
"We are acquiring interests in multi-family, affordable housing and other high occupancy commercial real estate properties. We will break new ground as a national provider of these affordable housing services by specializing in residents that have been previously under-served. As a for-profit company, we have the ability to acquire, renovate and manage group housing, including apartments and mobile home parks. We will dramatically increase cash flow through greater population density combined with efficient and professional property management," Folger stated.
Job Creation is Profitable Enterprise
The second focus of ACDG is to create jobs appropriate to these same disadvantaged citizens, further supporting social entrepreneurship. These jobs will be created in various enterprises that require minimal start-up capital while offering a high return and profit. The enterprise will be created through acquisition of profitable businesses or the launching of franchise type businesses that meet our employment and profitability criteria.
ACDG is creating numerous non-profit relationships nationally that have an ongoing need for both housing and job creation. "These non-profit organizations currently have government assisted agreements to assist in placement of their disadvantaged citizens," Folger continued. ACDG projects 90% occupancy rates can be accomplished over a 90 day period with each new property acquired.
The executive management team of ACDG consists of experienced property developers and managers on a national level in residential/commercial real estate. They also have a wealth of experience in emerging growth of public and private entities, capital markets, and merger/acquisition strategies.
American Community Development Group - Rebuilding America, One Life at a Time!
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.
SOURCE: American Community Development Group, Inc.
American Community Development Group, Inc. John Folger, President, 727-902-4108 jfolger@acdginc.com www.americancommunitydevelopmentgroup.comor Investor Relations: Heritage Corporate Services Jeffrey Staller, 888-543-6076 Jeffrey@HeritageCorporateServices.comCopyright Business Wire 2010
7/15/2010
American Community Development Group, Inc. Announces Acquisition of Multiple Housing Units - MarketWatch
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