Transcript IADC Powerpoint - IADCOnline.org

IBERO-AMERICAN DEVELOPMENT CORPORATION
954 Clifford Avenue, Rochester, New York 14621
Ibero-American Development Corporation
Welcome!
www.IADConline.org
Follow IADC on
facebook!
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
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.
Edison Senior Housing
 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.
Ibero - American Development Corporation
Buena Vista Manor
229 Avenue A
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.
Ibero - American Development Corporation
Nicholas Home
225 Avenue A
Youth DD Home
227 Avenue A
CHDO Homes
305 Woodbine Avenue
305 Woodbine Avenue

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.
Ibero - American Development Corporation
BEFORE & AFTER
Ibero - American Development Corporation
Featured listings
297 Bremen Street
48 Chevalin Street
326 Seneca Avenue
Ibero - American Development Corporation
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
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
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
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
Homebuyer Education
IADC offers Rochester’s only Spanish 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
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: [email protected]
Fax: (585) 339-9451
Become a Fan!
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!