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American Community Development Group Contracts to Purchase 21 Unit Motel

^{Published on 2010-08-19 05:42:21 - Market Wire}
 

TAMPA, Fla.--([ BUSINESS WIRE ])--American Community Development Group, Inc. (Pink Sheets: ACYD) announced today that they have entered into a signed term sheet to acquire a motel in the St. Petersburg area. This is the first property contracted from the previous $4.4 million of offers. The motel is capable of housing 42 people and can bring in an additional $300,000 in yearly recurring revenue. aWe came across this property and instantly knew it would be a great addition to our portfolio,a stated John Folger, President of American Community Development Group. aWe are working closely with several non-profit organizations in the area to continue filling our properties with populations receiving government subsidies for our continued housing service to the community,a Folger continued.

"We came across this property and instantly knew it would be a great addition to our portfolio"

The Company is in the process of acquiring additional properties to house veterans, ex-offenders, rehabilitated citizens, and children aging out of foster care. With bids on 7 additional properties, the Company is expecting to steadily increase their real estate inventory to benefit the underprivileged community.

Affordable Housing

aWe 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, primarily apartments and mobile home parks. We will dramatically increase cash flow through greater population density combined with efficient and professional property management,a Folger related.

Job Creation is Profitable Enterprise

The second focus of ACYD is to create jobs appropriate to the same disadvantaged citizens further supporting social entrepreneurship. These jobs will be created in various enterprises that require minimal capital versus their return through profits. The enterprises will be created through acquisition of profitable businesses or the launching of franchise type businesses that meet our employment and profitability criteria.

ACYD is creating multiple non-profit relationships nationally that have an ongoing need for both housing and job creation, and have government assisted agreements to assist in placement of disadvantaged citizens. ACYD projects 90% occupancy rates can be accomplished over a 90 day period with each new property acquired.

The corporate principals of ACYD are 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.

Mission Statement

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 companya™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 companya™s domestic and international operations, imprecision in estimating product reserves and the companya™s ability to replace and expand its holdings.