Training Tomorrow’s Hispanic Latinamerican Leaders Today  "Empowering Hispanics, Latinamericans & Others since 1991"  "Empowering Hispanics & Others Through Housing"

 A TYPICAL PLAN

CITY REDEVELOPMENT

SPONSORED BY

Americas Global Foundation

ALTEX International

Opportunity & Empowerment

AGF/ ALTEX invites investors, donors, sponsors to enable us to start a pilot project and then replicate it anywhere. Great benefits and rewards secured with real estate while giving joy and satisfaction to many Americans and others: around the world unfortunate families and individuals to own their home while working at our job sites and being empowered with other AGF’s programs.

Contact:          Victor Pinzon
Phone:              202 371 9696
E-mail:              vicpinzon@theamericas.org

Mission
AGF/ ALTEX mission of this program is to rehabilitate or replace uninhabited homes in targeted areas within cities.  To provide job skills training, jobs an income and affordable housing to less fortunate residents.

Benefits:

• The benefits to the city or municipality are that deteriorating buildings will become habitable and will not pose a health and fire hazard.
• Inhabited buildings create a property tax base to support city services.
• Job skills’ training creates productive citizens.
• Jobs create an income tax base to support the city and state.
• Workers are able to afford the housing that is being rehabilitated and creates pride of ownership and productive citizens.

Current situation:
Many cities and states claim that they are in financial difficulties.  An example is the City of Baltimore claims that they are in debt, yet thousands of houses are vacant and boarded up (see pictures following).  The state of Maryland, for example, is seeking alternative ways to raise funds to support state services such as opening gambling casinos and slot machines, raising gas, cigarette and other taxes.  The State of Maryland is reducing services such as the Department of Motor Vehicles, etc.

Solutions:
AGF/ ALTEX seeks to rehabilitate and/or replace vacant houses, train and employ workers which create income for the workers to purchase the homes that are being upgraded.

Plan overview:
AGF and ALTEX with our strategic partners and advisors (The Company) are working with several organizations to provide job skills training, jobs, income and affordable housing for less fortunate citizens.

Home Rehabilitation:
The Company has enrolled general contractors and journeymen/women in the building trades to train workers in building skills.  The workers will be employed to rehabilitate existing structurally sound houses and replace those that are beyond repair.

Home Replacement:
The Company plans to establish local panelized home assembly plants in the targeted areas.  The home manufacturing plants will have the capability to assemble approximately 1,500 homes per year per 8 hour work shift, 70% complete, at approximately $35.00 per square foot.  Panelized homes are easily and inexpensively built on the job site.

 Job Training and Jobs:
Workers will be trained in home rehabilitation of existing houses, home manufacturing at the assembly plant and home assembly (construction) on the job site of the replaced homes.

Affordable Homes for Workers:
The Company will hire workers who are trained and offer the rehabilitated or replaced homes for sale to the workers and other citizens. 

Employment:
The starting pay for workers will be approximately $10.00 per hour with pay increases as workers acquire skills.  At $10.00 per hour working 40 hours per week the workers will earn a gross income of approximately $1,720.00 per month to start.

Home mortgages:
At $50,000.00 average per home based on a 30 year mortgage at 7% APR (P.I.) the monthly payment is approximately $300.00/mo.  With a monthly income of $1,720.00, the home purchaser would have approximately $1,420.00 remaining for living expenses.

No qualifying loans:
The Company could arrange that the mortgage payments are deducted from the worker’s payroll at approximately $70.00 per week to pay the mortgage.  The mortgage company would be assured that the mortgage would be paid in a timely manner.

Down Payment:
A 10% down payment would be required for the purchasers to qualify for a mortgage.  The Company has developed 3 plans for workers to pay the down payment on the purchase of homes.

1. Payroll deduction plan – credited to the down payment; the Company will deduct approximately $300.00 per month from the pay of the participating purchaser.  In approximately 17 months the purchaser will have the down payment and will be accustomed to a $300.00 per month deduction for the monthly mortgage.
2. The Company will amortize the down payment with the monthly mortgage at $500.00 per month for 25 months.  Three hundred will be applied to the monthly mortgage and $200.00 per month will be credited toward the down payment.  At $1,720.00 per month payroll, the participant purchaser would receive $1,200.00 per month for living expenses.
3. Sweat equity during training.  The participant purchaser could work during training and credit time toward the down payment.  This would be approximately 500 hours of work.  This time could be spread over time at an agreed upon work hours per week or month.

Assembly Plants:
The Company has developed mass produced, steel framed housing whereby standard style homes can be assembled at approximately 70% complete at approximately $20.00 per square foot.  It is estimated that approximately 6 homes per 8 hour day can be assembled at the facility with approximately 50 workers.
Once the homes are assembled, they are delivered to the home site and erected very quickly at a low cost for labor and materials.
Homes can be designed and manufactured at the assembly facility to have the same look as existing homes in the targeted area.  Example: Many existing homes in Baltimore (and other cities) that are vacant such as the following pictures could be upgraded.  However, some of the homes are beyond repair, these homes could be removed and replaced with new homes.  The curbside appearance (exterior fascia) could be built to resemble the existing buildings.

Opportunity & Empowerment
AGF/ ALTEX invites donors, sponsors, or alternatively at least 100 stakeholders to acquire LLC shares at $2,500 each for a total $250,000 to enable us to start the pilot project. Great benefits and rewards secured with real estate while giving joy and satisfaction to many Americans and others: own your home while working at our job sites and being empowered with other AGF’s programs.

Vacant Buildings in Baltimore, MD

Rehabilitated Buildings on the next block

"Some people may not want to lead others.
If you decide not to lead, then you have to
follow the lead of others" Victor Pinzon

Contact: Victor Pinzon
Americas Global Foundation
ALTEX International
930 M Street, NW,  Suite 906 Washington, D.C. 20001
Phone: 202-371-9696 • Fax: 202-216 9550
vicpinzon@theamericas.org
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