1. Ibero-American Development Corporation
954 Clifford Avenue, Rochester, New York 14621
Ibero-American Development Corporation
954
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2. 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

3. 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.
Edison Senior Housing
Buena Vista Manor
229 Avenue A
Ibero - American Development Corporation

4. 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 Home
225 Avenue A
Youth DD Home
227 Avenue A
Ibero - American Development Corporation

5. 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 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

6. BEFORE & AFTER
Before
After
Ibero - American Development Corporation

7. Featured listings 297 Bremen Street 48 Chevalin Street
326 Seneca Avenue
Ibero - American Development Corporation

8. MARGARITA SANTOS, Realtor Associate:
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) X 25 | Cell:
MARGARITA SANTOS, Realtor Associate:
(585) X 24 | Cell:
Ibero - American Development Corporation

9. MARGARITA SANTOS, Realtor Associate:
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) X 25 | Cell:
MARGARITA SANTOS, Realtor Associate:
(585) X 24 | Cell:
Ibero - American Development Corporation

10. MARGARITA SANTOS, Realtor Associate:
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) X 25 | Cell:
MARGARITA SANTOS, Realtor Associate:
(585) X 24 | Cell:
Ibero - American Development Corporation

11. 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

12. Homebuyer Education Am I ready to purchase a home?
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

13. IBERO-AMERICAN DEVELOPMENT CORPORATION
954 Clifford Avenue, Rochester, New York 14621
Contact the team!
Eugenio Marlin, President & CEO | (585) x22
Mynali Martinez, Administrative Assistant | (585) x21
Joana López, Administrative Assistant | (585) x23
Ted Wood, Construction Manager, REALTOR | (585) x25
Margarita Santos, Realtor Associate | (585) x24
Maria Suben, Property Manager | (585) x26
Miguel Meléndez, HOPE Project Coordinator | (585) x28
Sacha Montes-DeOca, HOPE Resident Participation Coordinator| (585) x30
Website:
Fax: (585)
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14. IADC on ! Become a IADC an Today! www.IADConline.org
Get the latest updates on IADC projects, featured houses available, upcoming Home Buyers Educational Training (Spanish Only) and upcoming events!
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