ACYD news hit great potential/
TAMPA, Fla., Aug. 3, 2011 /PRNewswire/ -- American Community Development Group, Inc. (OTC Pinksheets: ACYD) today is very pleased to announced that it is adding Mr. Askia Mohammed Aquil to its advisory board.
Askia Muhammad Aquil, currently Chief Operating Officer for Community Housing Solutions, Inc., (CHS) has over 22 years experience in executive leadership, management and development of housing programs. Askia served 11 years as Executive Director of St. Petersburg Neighborhood Housing Services, Inc., a national NeighborWorks® affiliate and community housing development organization (CHDO).
In his current capacity with CHS, he is working to develop a more than 100 room project focused on American Service Veterans Recovery and Housing. American Community Development Group is in discussions to utilize a portion of its own $2 million dollar, 12% private placement proceeds to assist in this project, among others. Mr. Aquil is also instrumental in our recent corporate discussions regarding expansion into other markets and our access to additional nonprofits groups, agencies and grant funding opportunities.
He previously held the post of Deputy Director of the St. Petersburg Housing Authority where he was employed for 11 years. He gained extensive construction management-related experience as Assistant Project Engineer for two separate entities that together performed $72 million worth of construction on a City of Tampa project. He has served on the Board of Directors of numerous organizations including the Pinellas Homeless Coalition, Homeless Leadership Network and WestCare Florida.
Since 2008, American Community Development Group, Inc. (ACYD.PK) is a socially responsible public company that specializes in real estate investment. We create and sponsor affordable and transitional housing and job creation programs for the nonprofit community and are currently focused on the Florida West Coast. We have positively affected hundreds of lives including, but not limited to, the people of Florida. Our expansion plans include other regional and national affiliations.
"The Company", was founded as a real estate investment company in the Tampa Bay, Florida market. We intend to acquire properties at tremendously discounted prices during the current market down trend. The Company has also received offers to expand its pilot operations to other markets where distressed real estate prices are prevalent. We then increase shareholder value and revenue by using the properties to house the clients of existing nonprofits groups or other agencies.
According to John Folger, President of American Community Development Group, "We are currently acquiring interests in single and multi-family homes, apartment buildings, and other high occupancy commercial real estate properties, all while helping members of our community," he continued. "This approach sits well with both the community and our shareholders because we work directly with the nonprofit community and government agencies to house their clients. This model keeps our properties fully occupied."
For more information please visit our website at www.AmericanCommunityDevelopmentGroup.com.
About American Community Development Group
American Community Development Group (OTC Pinksheets: ACYD) is a hybrid social business model founded by a group of experienced professional managers and principals that acquire or fund businesses, act as consultants to 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.
Safe Harbor Statement
About Forward-Looking Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to the housing market, capacity to collect revenues, competition, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
