• Arizona ranks 40th in the nation in homeownership.
• The cost of a single family home in Arizona is 24% higher than the national average.
• The median family income in Arizona has increased just 3% a year.
• The median income of families with children 15% lower than the national average.
• With the recent real estate boom, the gap continues to widen.

OUR SOLUTION

What Is The Solution?

The creation of workforce housing communities will stimulate the economy, preserve the quality of family life and provide for a successful business climate throughout Arizona. Clearly, creating affordable, workforce housing is the right thing to do. Our dream will benefit not just the future home purchaser, but according to the Fannie Mae-Arizona Partnership, construction of 1000 residences will create nearly 2500 jobs, generate more than $80 million in wages and provide $43 million in federal, state and local revenue.

How Will PADS Do This?

Development Of Affordable Communities

PADS plans to grant monies and donations to acquire and develop land-home Workforce housing communities. Each lot will have ground set, pre-fabricated home. Each home will have an attached garage and come complete with appliances, carpeting and/or laminate or tile flooring, window coverings, and landscaping. In addition, the subdivision will have at least one community park and visitor parking area. These homes will be offered to the purchasers in the price range of $100,000 to $120,000. This is 50% below the current price for a land-home package in the Verde Valley region of Arizona. This price range is within the means of credit-worthy households earning from $30,000 to $60,000 per year. Various methods will be used by PADS to deliver title of the land to the purchaser. These methods will balance affordability for the purchaser and create an evergreen fund within the PADS organization to fund further community developments. We have banking relationships with the major Arizona lending institutions that will provide home loans for qualified borrowers. Furthermore, we will have a loan advisor on staff to facilitate the loan process and direct purchasers to the appropriate lending institution. Also, we will require the purchasers to attend PADS’ sponsored educational classes taught by PADS’ own Consumer Educator on the management of personal finances and wealth development. We at PADS are committed to giving creditworthy buyers a hand-up not a hand-out.

Criteria For Qualification

• Creditworthiness and Employment History of two years minimum
• A minimum FICO (Fair Isaac Company) score of 620
• Must be a member of the community’s workforce
• The maximum household income should not exceed $60,000
• The home must be owner occupied for a minimum period of two years
• The owner cannot rent out the home
• This is NOT a program for investors

Future Pads Projects
PADS will continually seek out and develop similar workforce housing communities throughout Arizona following this model. We anticipate building 1,000 homes over the next five years. Future projects will vary in size and will be located in the areas of greatest need in Arizona and may utilize subsequent grant and donation funding sources.

PADS Team Commitment to Quality Communities
PADS will assure quality communities through its team concept coordination. By working together the department heads of PADS engineering, production, service, sales and marketing professionals, PADS develops its vision for workforce housing. Cost and marketing considerations are incorporated into the proposed improvements and end product and the property's many aspects are analyzed and rechecked by the team to ensure the proper outcome by all disciplines involved in the process. Improvements and the infrastructure of each project are then constructed under full supervision by PADS project development department and the necessary scheduling of contractors to assure the timely completion of each project. Only top quality licensed and bonded contractors are utilized to perform their respective duties. PADS service department will coordinate production scheduling, model interior design, landscape design, and entry construction. In addition, post-sale product follow-thru will assure customer satisfaction.

The marketing of the project is coordinated by PADS marketing which coordinates the necessary graphics for advertising, media, public relations, and promotional programs. The marketing campaign includes the development and application of brochures, street and freeway signage, newspaper advertising, the preparation and production of television and radio spots, and the placement of public relations releases.

The sales department will work in conjunction with national and local real estate brokers to identify qualified purchasers of our homes.

PADS financial department will work with consumers on loan consultation and will also schedule mandatory consumer financial education programs for understanding and maximizing personal financial wealth building.

The Community
In order to comport with the density issues of Arizona, we anticipate the density of any of our single family detached home projects not exceed eight single family homes per acre. In the Mondale Meadows project, which is the subject of PADS first grant, the density is slightly over five homes per acre. Our subdivisions have green belts and common gathering areas to further enhance a sense of community and belonging. (See www.TheWillowsAtCampVerde.com)

The Homes
A home is the single-most important purchase most people will make in their lifetime. The ability to acquire equity from homeownership is essential for building economic security. The Consumer Federation of America states “for lower income and minority households home equity represents four-fifths (80%) of their net worth.” Today it's harder than ever for many workforce buyers to maximize their purchase while staying within their budget. Traditional, site-built houses are no longer within the financial reach of a significant number of Americans. PADS developments will restore the American dream. We utilize factory-built, manufactured or modular homes to provide rigorously controlled quality, a rigidly proscribed production environment, achieve cost containment by taking advantage of nominal materials shrinkage, and realize the economies of scale associated with factory or assembly line based production. It is by these means, in conjunction with the grant to off-set the land acquisition and development costs, that we can offer these high quality, aesthetically pleasing single family land-home communities at a fraction of the cost for typical site built home tracks.

What Is A Manufactured Home?
The term "manufactured home" was adopted in 1976 by the United States Congress to describe a type of house that is constructed in a factory to comply with a building code developed by the Department of Housing and Urban Development (HUD). This code regulates, and ensures, a suitable level of performance in the home's design and construction, strength and durability, fire resistance, and energy efficiency, as well as its heating, plumbing, air conditioning, thermal, and electrical systems. Every home is inspected at the factory for construction methods and code compliance throughout the entire manufacturing process.

The adoption of these HUD standards back in 1976 means that the design, safety and quality of today's manufactured homes are far superior to those manufactured homes constructed prior to 1976. Older homes, built between 1940 and 1976, are commonly referred to as "mobile homes" - a name that certainly no longer applies to today’s manufactured homes, which are not really mobile. Currently, more than 90 percent of all manufactured homes are permanently affixed with their initial installation. The term "manufactured," therefore, is a much more accurate description. This aspect of the operation makes its homes indistinguishable, outside and in, from site-built homes, and is what enables us to be a market leader in this unique niche of the real estate business.

The factory construction process is what allows manufactured homes to offer the combination of top quality construction and value. In a factory environment, all aspects of the construction process are controlled. The weather doesn’t interfere or cause costly delays. There are no independent, uncontrolled, expensive subcontractors. All workers are on the same team and efficiently supervised. Inventory is better controlled and materials are securely protected. The savings realized from these efficient methods are passed on to the home buyer. Once permanently sited, manufactured homes visually look like any other site-built home in the neighborhood. The only discernable difference is affordability.

All of our homes come with a long list of amenities. Standard features include a nine-foot ceiling and tape and textured walls. The homes have 2x6 exterior walls, energy efficiency packages which will give the home R-22 insulation in the floor, R-19 insulation in the walls and R-50 in the ceiling. They have skylights or solar tubes to reduce daytime electricity consumption. All windows are dual-pane low-E vinyl to further reduce temperature transfer to or from the outside.

The kitchen features either white or stainless steel General Electric appliances including a microwave oven, refrigerator, garbage disposal, self-cleaning range and oven, and washer and dryer. The cabinets are solid oak and available in three colors. In addition the homes come complete with central heating and air conditioning, floor coverings, window coverings, and many other options.

What Is A Modular Home?
Contrary to what most people think, "Modular Homes" is not just a new name for today's manufactured home. A modular home is built and governed under a completely different regulatory body and must meet different specifications and codes. Specifically, modular homes fall under the International Building Code or IBC.

Modular Homes are built in sections, or modules, in a factory and are craned on to a steel frame where they are transported and then detached and craned on to an engineered foundation. The sections are then married to one another. The finished result is a home that is identical in appearance, value, appraisal comps, and appreciation to that of a site-built home.

Manufactured homes are built and regulated under the codes provided by HUD or the Department of Housing and Urban Development. Manufactured homes are attached to their own steel frame and running gear. The steel frame allows for less wood material (i.e. no spanning joists) and their setup does not require the use of expensive cranes. When placed on a foundation system on owned land, excellent financing is available through several large banks.

Prefab American Dream Source, Inc. 
1487 Horseshoe Bend, S-77, Camp Verde, AZ 86322
  Tel: 928 567 5800 | Fax: 928 567 1995
 info@padsaz.com