IBERO-AMERICAN DEVELOPMENT CORPORATION 954 Clifford Avenue, Rochester, New York 14621 Welcome! Follow IADC on facebook! Ibero-American

IBERO-AMERICAN DEVELOPMENT CORPORATION954 Clifford Avenue, Rochester, New York 14621

Welcome!Follow IADC on facebook!www.IADConline.org

Ibero-American Development Corporation

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.

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.


Buena Vista Manor229 Avenue A

Edison Senior Housing

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 Home225 Avenue A

Youth DD Home227 Avenue A

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

BEFORE & AFTER


Featured listings


297 Bremen Street 48 Chevalin Street

326 Seneca Avenue

Purchase Price: $ 67,000.00297 Bremen StreetRochester, NY 14621True tax = $ 2, 243

FEATURES:2 bedrooms1 baths989 Sq. Ft. +/-Built in 1949New Security SystemNew FurnaceNew Water HeaterNew Electrical ServiceNew Exterior DoorsNew RoofNew Carpet & Vinyl floorsNew Kitchen & Bath

297 Bremen Street


TED WOOD, REALTOR: (585) 467-6410 X 25 | Cell: 370-6901

MARGARITA SANTOS, Realtor Associate: (585) 467-6410 X 24 | Cell: 729-6468

Purchase Price: $ 59,900.0048 Chevalin StreetRochester, NY 14621True tax = $ 2, 181

FEATURES:3 bedrooms1 baths1,168 Sq. Ft. +/-Built in 1947New Security SystemNew FurnaceNew Water HeaterNew Electrical ServiceNew Exterior DoorsNew RoofNew Carpet & Vinyl floorsNew Kitchen & Bath

48 Chevalin Street




Purchase Price: $ 64,900.00326 Seneca AvenueRochester, NY 14621True tax = $ 2, 604

FEATURES:3 bedrooms1 baths1,207 Sq. Ft. +/-Built in 1950New Security SystemNew FurnaceNew Water HeaterNew Electrical ServiceNew Exterior DoorsNew RoofNew Carpet & Vinyl floorsNew Kitchen & Bath

326 Sencea Avenue




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.


CHDO Continued

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?

Homebuyer Education

IADC offers Rochester’s only Spanish First-Time Home buyer education training.

Provided in certified training are the following:


IBERO-AMERICAN DEVELOPMENT CORPORATION954 Clifford Avenue, Rochester, New York 14621

Become a Fan!

Website: www.IADConline.org

E-mail: [email protected]

Fax: (585) 339-9451

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

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Get the latest updates on IADC projects, featured houses available, upcoming Home Buyers

Educational Training (Spanish Only) and upcoming events!

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IBERO-AMERICAN DEVELOPMENT CORPORATION 954 Clifford Avenue, Rochester, New York 14621 Welcome! Follow IADC on facebook! Ibero-American