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AMERIDREAM, INC. AND OUTER BANKS HOME BUILDERS ASSOCIATION CREATE HURRICANE RELIEF FUND
- Donations to benefit residents of Hatteras Island,Others Encouraged to Contribute -

Gaithersburg, MD (November 18, 2003) – More than a month after Hurricane Isabel’s destructive landfall along the east coast of North Carolina, many residents of the Outer Banks are still trying to put their lives back together.  To assist those residents who need help repairing or rebuilding their homes, AmeriDream, Incorporated and the Outer Banks Home Builders Association (OBHBA) have partnered to create the Hurricane Isabel Rebuilding Fund.   


AmeriDream has donated $35,000 to start up the fund, and together AmeriDream and the OBHBA are issuing an invitation to real estate agents, mortgage lenders, brokers, homebuilders and other real estate industry professionals to contribute to the fund. 
The money will be used to rebuild homes for residents who do not have insurance, or for residents whose insurance does not cover all of their necessary home repairs. 


“The damage we have seen on Hatteras Island is devastating,” said Maxine Rossman, executive director of the OBHBA. “In the days following the storm, we saw homes that were blown into the sound on the other side of the island. The homes of many residents of Hatteras Village were lost completely or destroyed beyond repair, so we are hoping to raise funds that will help those who are most in need. It is a difficult task ahead of us, even as infrastructure repairs are proceeding. With the dredge spoil filling of the Hatteras Island breach complete and paving underway, at least the supplies will no longer need to be carried to the island by boat. 


“We couldn’t be more thankful to AmeriDream for its generous donation. OBHBA is hoping AmeriDream’s donation sparks the interest of many others in the housing industry to help these people rebuild and repair their homes, particularly with the holidays coming.”
 

The fund will be administered by the OBHBA, with 100 percent of the donations going to the rebuilding efforts. The costs of administering the fund will be absorbed by AmeriDream and the OBHBA.

“Hurricane Isabel struck very close to home for us, and we wanted to try to help the people of Hatteras Island in some small way,” said AmeriDream President and CEO Ann Ashburn. “AmeriDream’s mission is to help put people in homes, so we feel very strongly that some of our charitable donation efforts should go towards helping people who have lost their homes in times of disasters. We hope that we are able to encourage others to donate to the Hurricane Isabel Rebuilding Fund, and help the residents begin to rebuild.”
For more information on donating to the Hurricane Isabel Rebuilding Fund, contact Maxine Rossman at the OBHBA at 252-449-8232 or maxine@obhomebuilders.org, or Lori Forcey at AmeriDream at 301-987-5122 or lforcey@ameridream.org.
 

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The mission of AmeriDream, Inc., headquartered in Gaithersburg, MD, is to expand homeownership opportunities for underserved groups and promote the value of homeownership as the foundation for building strong communities and individual prosperity. AmeriDream, Inc. is a non-profit, publicly supported organization that is tax-exempt under Internal Revenue Code Section 501(c)(3). AmeriDream, Inc. meets the requirements for a charitable organization, as referenced in the HUD Handbook 4155.1 REV-4, CHG-1 Section 2-10 for FHA insured loans.  In addition to The AmeriDream Downpayment Gift Program, AmeriDream also operates The AmeriDream Redevelopment Program in the Washington, DC metropolitan area and Florida, and the Community Link Program nationwide. Through the Redevelopment Program, AmeriDream has spent more than $8 million to rehabilitate properties and return them to the market at affordable prices. Through Community Link, AmeriDream has donated more than $1.5 million to a range of community organizations, including Habitat for Humanity, the American Red Cross Disaster Relief Fund, and the Victims Rights Foundation.