Press Release 001

St. Petersburg, Florida – June 14, 2008 --- American Community Development Corporation (ACD) today announced that is has entered into a relationship to provide resources and capital to New Beginnings of Tampa, Inc.

New Beginnings of Tampa, Inc. is a recognized IRS 501(c)(3) Florida nonprofit corporation and provides Emergency Shelter, Transitional Housing and Life Recovery Program to the homeless, ex-offenders and recovering addicts.

In 2008, New Beginnings will dedicate Tampa’s first “Aging Out” of Foster Care facility to house 11 young men from 18-23 years old. The “Aging Out” Program will also provide job skills, GED and other educational programs for a people group that averages 40% homeless.

“We are continuing our rapid expansion,” said American Community Development President John D. Folger. “We want to provide more and more resources and access to capital for nonprofits to achieve their respective goals in working with specialized groups. These groups may include ex-offenders, elderly, veterans and Income Restricted (60% AMI & below) in various markets across America. We believe that New Beginnings is the foremost such nonprofit in the Tampa Bay, Florida area and we are proud to be associated with them.”

Dr. Tom Atchison, President of New Beginnings, added that he “looks forward to future collaborative efforts with American Community Development in our combined efforts to increase the capacity of non-profits to assist challenged communities and specialized people groups.”

American Community Development provides affordable housing programs to disadvantaged people through non-profit agencies.

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