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IBERO-AMERICAN DEVELOPMENT CORPORATION 954 Clifford Avenue, Rochester, New York 14621 PowerPoint Presentation
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IBERO-AMERICAN DEVELOPMENT CORPORATION 954 Clifford Avenue, Rochester, New York 14621

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IBERO-AMERICAN DEVELOPMENT CORPORATION 954 Clifford Avenue, Rochester, New York 14621

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IBERO-AMERICAN DEVELOPMENT CORPORATION 954 Clifford Avenue, Rochester, New York 14621

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  1. IBERO-AMERICAN DEVELOPMENT CORPORATION 954 Clifford Avenue, Rochester, New York 14621 Ibero-American Development Corporation 954 Welcome! Follow IADC on facebook! www.IADConline.org

  2. Community Based Development of Affordable Housing • Ibero-American Development Corporation (IADC) was founded in 1987 by Ibero-American Action League, Inc. (IAAL), a community based human service organization dedicated to delivering services to the Latino community in upstate NY. • Initially IADC was formed to own and manage the buildings occupied by IAAL to administer and deliver services to the community. Its mission was later expanded to include the development of affordable housing and community facilities, and serving as a real estate broker. • In 1992 IADC initiated its housing development activities. Since that time, it has developed eleven (11) housing facilities which provide 82 affordable rental units to low income residents. Residents include the homeless, the elderly and persons with developmental disabilities. Ibero - American Development Corporation

  3. HUD Section 202 (Elderly) Housing • IADC has developed two affordable rental projects for the elderly. Both projects were financed by HUD Section 202. • The first project was an eight (8) unit project completed in 1999 at a cost of $535,200. • The second project was a 30 unit building completed in 2005 at a cost of $2,436,000. • HUD provided full financing for the development of both projects and subsidizes the operating costs of the projects in order to make rents affordable to low income seniors. Edison Senior Housing Buena Vista Manor 229 Avenue A Ibero - American Development Corporation

  4. DD Homes • IADC has developed seven homes and three apartments for the developmentally disabled (DD). Thirty-five (35) adults and five (5) youth are provided affordable housing along with comprehensive services in these homes. • The development costs of five (5) of the facilities were financed through commitments made by NY State OMRDD and the other three (3) homes were financed through HUD Section 811. Nicholas Home 225 Avenue A Youth DD Home 227 Avenue A Ibero - American Development Corporation

  5. CHDO Homes • IADC has developed over 100 vacant single family homes which have been sold to low and moderate income, first-time home buyers. • IADC was certified as a Community Housing Development Organization (CHDO), by the City of Rochester in 1994. This certification has enabled us to participate in the City's first-time home buyer program. • Through the program, IADC has participated in the rehabilitation and sale of over 100 single family homes to low and moderate income, first-time home buyers. 305 Woodbine Avenue 305 Woodbine Avenue Ibero - American Development Corporation

  6. BEFORE & AFTER Before After Ibero - American Development Corporation

  7. Featured listings 297 Bremen Street 48 Chevalin Street 326 Seneca Avenue Ibero - American Development Corporation

  8. 297 Bremen Street Purchase Price: $ 67,000.00 297 Bremen Street Rochester, NY 14621 True tax = $ 2, 243 FEATURES: 2 bedrooms 1 baths 989 Sq. Ft. +/- Built in 1949 New Security System New Furnace New Water Heater New Electrical Service New Exterior Doors New Roof New Carpet & Vinyl floors New Kitchen & Bath TED WOOD, REALTOR: (585) 467-6410 X 25 | Cell: 370-6901 MARGARITA SANTOS, Realtor Associate: (585) 467-6410 X 24 | Cell: 729-6468 Ibero - American Development Corporation

  9. 48 Chevalin Street Purchase Price: $ 59,900.00 48 Chevalin Street Rochester, NY 14621 True tax = $ 2, 181 FEATURES: 3 bedrooms 1 baths 1,168 Sq. Ft. +/- Built in 1947 New Security System New Furnace New Water Heater New Electrical Service New Exterior Doors New Roof New Carpet & Vinyl floors New Kitchen & Bath TED WOOD, REALTOR: (585) 467-6410 X 25 | Cell: 370-6901 MARGARITA SANTOS, Realtor Associate: (585) 467-6410 X 24 | Cell: 729-6468 Ibero - American Development Corporation

  10. 326 Sencea Avenue Purchase Price: $ 64,900.00 326 Seneca Avenue Rochester, NY 14621 True tax = $ 2, 604 FEATURES: 3 bedrooms 1 baths 1,207 Sq. Ft. +/- Built in 1950 New Security System New Furnace New Water Heater New Electrical Service New Exterior Doors New Roof New Carpet & Vinyl floors New Kitchen & Bath TED WOOD, REALTOR: (585) 467-6410 X 25 | Cell: 370-6901 MARGARITA SANTOS, Realtor Associate: (585) 467-6410 X 24 | Cell: 729-6468 Ibero - American Development Corporation

  11. CHDO Continued The CHDO project is done in collaboration with the City of Rochester and the Rochester Housing Development Fund Corporation (RHDFC). Under the program: • The City of Rochester allocates HOME and/or Community Development Block Grant Funds to assist first-time, income eligible home buyers with up to $ 6,000 in closing cost assistance. The City also provides funds to reduce the size of the mortgage that the home buyer must get from the bank to cover the cost of the house, thereby making the home affordable to the buyer.   • RHDFC is a not-for-profit financing corporation that acquires the vacant houses and provides the financing needed during the construction period to rehabilitate the houses. • IADC serves as construction manager, determining what improvements need to be made to the houses and overseeing the completion of the construction. IADC is paid a fee for each house that is completed. • IADC also markets the houses, provides pre-purchase counseling to potential buyers, assists buyers secure needed financing to purchase a home and assists buyers until the closing on the purchase is completed. IADC is paid a commission for each house that it sells. • New strategies are being initiated to construct new, affordable homes for first-time home buyers. IADC is now working with the City of Rochester and a local contractor to construct new homes on vacant, city owned lots at affordable prices. Ibero - American Development Corporation

  12. Homebuyer Education IADC offers Rochester’s onlySpanish First-Time Home buyer education training. Provided in certified training are the following: • Am I ready to purchase a home? • Do I manage my money well? • What is credit and how does it effect me ? • How do I get a mortgage that’s right for me? • How do I find my dream house? • How do I keep my dream house? Ibero - American Development Corporation

  13. IBERO-AMERICAN DEVELOPMENT CORPORATION 954 Clifford Avenue, Rochester, New York 14621 Contact the team! Eugenio Marlin, President & CEO | (585) 467-6410 x22 Mynali Martinez, Administrative Assistant | (585) 467-6410 x21 Joana López, Administrative Assistant | (585) 467-6410 x23 Ted Wood, Construction Manager, REALTOR | (585) 467-6410 x25 Margarita Santos, Realtor Associate | (585) 467-6410 x24 Maria Suben, Property Manager | (585) 467-6410 x26 Miguel Meléndez, HOPE Project Coordinator | (585) 467-6410 x28 Sacha Montes-DeOca, HOPE Resident Participation Coordinator| (585) 467-6410 x30 Website: www.IADConline.org E-mail: iadc@iberodevelopment.org Fax: (585) 339-9451 Become a Fan!

  14. IADC on ! www.IADConline.org Get the latest updates on IADC projects, featured houses available, upcoming Home Buyers Educational Training (Spanish Only) and upcoming events! Become a IADC an Today!