TAMPA, Fla., Oct. 7, 2010 (GLOBE NEWSWIRE) -- Due to recent developments, the American Community Development Group, Inc. (Pink Sheets:ACYD) is pleased to offer an update to shareholders regarding progress towards implementation of the business plan and revenue increases.
The Company has strengthened its relationships across a broad spectrum of social service groups and agencies, which in turn creates more clients who can live in transitional housing of the types offered by the Company. We can now cover a much broader spectrum of clients than originally envisioned by the business plan.
In addition, the Company is in aggressive discussion with agencies, service providers and others that are facing large increases in demand for transitional and program supported housing across a broader geographical area in the Tampa Bay market, so we will shortly be able to offer expanded opportunities in Pinellas, Hillsborough and Polk counties. This expansion is expected to offer a dramatic improvement in cash flow and earnings. According to John Folger, President of ACYD, "Our growth and expansion is coming at a rate sooner than we anticipated which should convert into increased income as we bring more properties on line for service."
American Community Development Group, "The Company", was founded to offer financial support and management guidance to the nonprofit community; including organizations struggling to provide support to economically distressed citizens. "We are excited to work with other groups in expanding our resources to benefit the lower-income and rehabilitated population of the United States," stated John Folger, President of American Community Development Group. "We are currently acquiring interests in multi-family homes, affordable housing, and other high occupancy commercial real estate properties, while helping members of our community," he continued. "This approach serves both the community and our shareholders."
The second focus of The Company is to create jobs suitable to these same disadvantaged citizens, further supporting social well being and entrepreneurship. "With the economy's continued downward trend, American Community Development will continue to fill the need to help the increasing impoverished population," Mr. Folger added, "We are very active within the philanthropic community and plan to use our resources to assist the underprivileged population."
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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 in crisis or challenge. The properties include single and multi family homes, apartments, hotels, and mobile home parks. The Company intends to control over 1000 units, housing 6000 persons, 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 firstname.lastname@example.org