updated 12/6/2010 8:16:09 AM ET 2010-12-06T13:16:09

TAMPA, Fla., Dec. 6, 2010 (GLOBE NEWSWIRE) -- American Community Development Group, Inc. (Pink Sheets:ACYD) today has announced that it will be adding more joint venture partners. There will be several separate announcements that offer specific specifications and terms, but each organization that is supported by the Company provides value added services to strengthen the quality of life for clients and tenants throughout the American Community Development Group network.

The Literacy Counsel of St. Petersburg, Inc. has been providing tutoring and mentor services for those who are reading deficient since 1968. According to Ann Palmer, the President, last year, 80 tutors in the southern half of Pinellas County worked with 87 students one-on-one in schools and libraries. In the past five years, they have helped more than 300 people learn to read. More than half of the tutors — and students — are older than 50. "You're never too old to learn to read," says Ann. "You just have to want to."

For more information, please click on http://www.stpetereads.com

American Community Development Group, "The Company", was founded to offer financial support and management guidance to the nonprofit community. "We are excited to work with other foundations in expanding our resources," stated John Folger, President of American Community Development Group. "We are currently acquiring interests in multi-family homes, and other high occupancy commercial real estate properties."

The second focus of The Company is to create jobs and to further its contribution to the economic development of the country, as well as further supporting social well being and entrepreneurship. We intend to follow the successful business model similar to that of Goodwill Industries. "With the economy's continued downward trend, American Community Development will continue to fill the need to help the increasing population by investment into, or purchase of, businesses that offer ongoing employment." Mr. Folger added, "We are very active within the philanthropic community and plan to use our business model to generate revenue and profits while assisting the nonprofit community".

For more information please visit our website at www.AmericanCommunityDevelopmentGroup.com .

About American Community Development Group

American Community Development Group (Pink Sheets:ACYD) is a hybrid social business model founded by a group of experienced professional managers and principals that acquire or fund businesses, consult with the nonprofit community, and purchase real estate and affordable housing properties for the purpose of housing and employing individuals and families. The properties include single and multi family homes, apartments, hotels, and mobile home parks. The Company intends to control over 5000 units by the end of 2012.

Safe Harbor Statement

Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies.

CONTACT:  American Community Development Group, Inc.
          John Folger
          (727) 522-0829

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com