Asian CommunityDevelopment Corporation

2012 ANNUAL REPORT

We marked our 25th banner year of service to the Asian American Community by building more quality affordable homes for families and providing the complementary capacity-building programs necessary to support thriving , vibrant neighborhoods.

• We achieved full occupancy of the 34 new homes within 6 Fort Street Apartments in Quincy, ACDC’s first housing development outside of Chinatown. This was within two months of opening the application process in which we received 398 applications. • We provided temporary housing crisis assistance to relocate approximately 50 individuals and families who were displaced by the evacuation of a boarding house in Chinatown this past winter. The residents were primarily Chinese-speaking restaurant workers.

• We graduated 167 individuals for our HUD-certified first-time homebuyer workshop. Half of the graduates are ready to buy a home and the other half are participating in one-on-one housing counseling to realize their goal of homeownership.

• We greened our Oak Terrace Apartments with new, high-efficiency boilers and other retrofits that were featured in the annual report of the Local Initiatives Support Corporation and Communities and Banking published by the Federal Reserve Bank of Boston.

• We continue to sponsor the Reading Room at our Oak Terrace Apartments. The Reading Room is a pilot of the Chinatown Lantern Cultural and Educational Center initiative which aims to bring library and cultural services to Chinatown.

2013 already is shaping up to be another exciting year with the ground breaking of Parcel 24. Please join us in our efforts to shape the future of our community for the next 25 years.

Message from Board President and Executive Director

Janelle ChanExecutive Director

Michael TowBoard President

It has been an honor to serve as ACDC’s Board President for the last 5 years. My deepest appreciation and thanks to the dedicated ACDC board and staff who worked together with me fulfilling ACDC’s mission, as well as being extremely supportive of me throughout my tenure. I look forward to continuing to serve ACDC as a member of the board and I know we will be in good hands with our new Board President, Paul Lee. Mike Tow

Community leaders and activists founded Asian Community Development Corporation (ACDC) in 1987 to respond to the needs of the Asian American community in Greater Boston. Since then, our community has expanded beyond the boundaries of Boston’s Chinatown. ACDC’s programs have evolved to serve a geographically dispersed and yet socially, culturally, and economically connected community.

For a quarter century, ACDC has worked in partnership with the community by developing over $125 million in mixed-use, transit-oriented, primarily residential developments that responds to their needs, desires, and aspirations for their neighborhood. The organization has distinguished itself by promoting a development model that leverages the market to provide a high percentage of on-site affordable homes in transit-oriented, highly desirable locations that have the service infrastructure to support its residents. Our comprehensive approach to community engagement means that our developments benefit those who live in our residential buildings as well as the surrounding neighborhood, often by providing open space and catalyzing positive change in a previouslydisinvested area. ACDC’s developments are home to over 800 adults and children, five leading Chinatown non-profit organizations, and two small businesses.

Our residents are our neighborhood’s assets – we provide the complementary counseling and resident services to ensure our residents have the stability to fully engage in improving the quality of life for themselves and their neighbors. We have fostered new leadership amongst youth and residents by utilizing cross-generational learning as well as introducing new technology to broaden participation at town hall meetings. We have empowered residents with the tools and resources they need to stabilize their housing, which may include buying their own homes, participating in the planning of their neighborhoods, and contributing more fully to the economic and civic life throughout the region.

The Asian Community Development Corporation, a community-based organization, is committed to high standards of performance and integrity in serving the Asian American community of Greater Boston, with an emphasis on preserving and revitalizing Boston’s Chinatown.

The Corporation addresses the current, growing needs of its community:• Affordable housing for rental and home ownership• Promotes economic development• Fosters leadership development• Builds capacity within the community• Advocates on behalf of the community.

Our Mission History

Michael Tow and Janelle Chan with Governor Patrick at ACDC’s 25th Anniversary Inspiration Gala

Guests celebrating ACDC 25thanniversary at the Taj Boston

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6 Fort Street Apartments

ACDC’s 6 Fort Street Apartments was fully occupied by 34 families in early 2012. This is ACDC’s first housing development outside of Chinatown. The 6 Fort Street Apartments project, completed in late 2011, has transformed a vacant building that was formerly a church and commercial space into a vibrant community of residents.

Situated in a convenient, environmentally responsible and walkable area, 6 Fort Street introduces much needed affordable housing within the City of Quincy, one of Greater Boston’s high-demand, high cost, inner core communities. This is one of the first family-focused, tax credit-financed affordable housing to be developed in Quincy recently. ACDC’s long-term investment in the local community is assured by the organization’s continued ownership and community focused management of the property.

Parcel 24

The Parcel 24 project slated for groundbreaking in 2013 will create 362 units of new housing. Located at the end of the Rose Kennedy Greenway in Chinatown, Parcel 24 promises to restore and revitalize a city block that was once home to 300 residents displaced by highway expansion.

The Parcel 24 Plan responds to the vision of the Hud-son Street for Chinatown Coalition by including 40% of all units affordable for rent and ownership rental to low-and moderate-income households, green space, community space, ground floor retail, and underground parking. All of the elements are incorporated into a neighborhood-sensitive, transit orient-ed, sustainable design. Parcel 24 is a joint venture be-tween ACDC and the for-profit New Boston Fund, Inc.

The Metropolitan

The Metropolitan, completed in 2005, is a mixed use 23 story high-rise containing 251 rental and homeownership units, 115 (or 46%) of which are affordable to low and moderate income families. Located in the heart of Chinatown, the building includes community space for community-based social services organizations; street-level retail and commercial space; and two levels of underground parking with 283 spaces. ACDC successfully incorporated an extraordinary number of affordable units by capturing and capitalizing on the intrinsic value of the site’s desirable location in downtown Boston, access to a plethora of public transportation options, and existing diversity and density that allowed the market-rate cond0s to subsidize the affordable housing component.

Oak Terrace

Oak Terrace, built in 1995, is one of ACDC’s earliest developments. It was the first housing development in Chinatown in over 20 years. Today the building is home to over 300 residents, the majority of whom are low to moderate income households. Of the 88 rental units, 60 are affordable. It also provides space for community meetings, local businesses, and health care practitioners.

This year ACDC updated the units with high-efficiency boilers and other retrofits that were featured in publications by the Local Initiatives Support Corporation and the Federal Reserve Bank of Boston. In addition, Oak Terrace houses the Reading Room, a community initiative sponsored by ACDC.

Real Estate Development

Parcel 24 Current View from south towards Kneeland Street

Parcel 24 Artist Rendering from south towards Kneeland Street

The key to preserving and revitalizing neighborhoods in Greater Boston is to ensure adequate, high quality affordable housing to meet the current and future needs of our community. We work directly with our stakeholders to build a common vision for real estate in Chinatown and in the communities in which Asian Americans live, work, and play. Our partnerships with private developers realize these visions. We remain committed to building high impact, sustainable communities that are affordable and welcoming for residents, neighbors, and visitors. ACDC also engages in active asset management of our real estate portfolio to ensure the long-term physical and financial viability of these community assets.

Residences created by ACDC include two in Chinatown– Oak Street Terrace and Metropolitan; and one in Quincy – 6 Fort Street. These are all transit-oriented developments that comprise a total of 339 new, affordable and market rate homes in Chinatown and 34 new rentals in Quincy.

116 Hudson Street, one of the many homes demolished by the City of Boston to make way for the Massachusetts Turnpike in the 1960’s.

Photo courtesy ofCynthia Yee

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Asian Voices of Organized Youth for Community Empowerment (A-VOYCE) is ACDC’s dynamic youth development program for youth from Greater Boston. This program brings high school students together to use their voices in affecting positive change in the community through the power of dialogue and storytelling.

In 2012, the A-VOYCE program engaged 20 youth participants in leveraging over 4,000 hours of learning and community service.

2012 Highlights:

• Project Stitch, a cultural empathy multi-media project founded by A-VOYCE alumni, won a United Way Youth Venture seed funding grant

• A-VOYCE led summer walking tours of Boston’s Chinatown that introduced others to the experience of the neighborhood with their narratives.

• A-VOYCE learned entrepreneurship, public speaking, and communications skills through managing the Chinatown Walking Tour and volunteering for Films at the Gate.

A-VOYCE

“A-VOYCE was an opportunity to explore a little bit about myself and peers within Boston. I enjoyed trying to help out the local community with my friends and overall I would want others to do the same.” – Howard Chen

“…to me A-VOYCE meant family. Through A-VOYCE, I was able to meet and really get to know a variety of people from and around Boston. It was an unforgettable experience.” – Gerry Paradela

Chinatown Walking TourFollowing a youth leadership development curriculum, A-VOYCE youth move from theory to practice by participating in the Chinatown Walking Tour program. The program trains students to lead community tours of Chinatown and give visitors historical, cultural, and personal perspectives of the 300 plus year old neighborhood. Youths are encouraged to use their own narratives in their tours and provide participants with an insider’s view of Chinatown.

Reading RoomACDC continues to sponsor the Reading Room situated within its Oak Terrace Apartments. The Reading Room, a pilot of Chinatown Lantern Cultural and Educational Center Initiative, aims to bring library and cultural services to Chinatown. Community members learn English, receive tutoring and participate in workshops.

Chinatown Heritage ProjectThe celebration of Chinatown heritage is the guiding principle for this project. It provides the cultural education sought by Asians born in and outside the U.S. as well as visitors to the neighborhood. The blend of activities promotes cross-cultural understanding, contributes to Chinatown’s economic prosperity, and offers various mediums for expression. ACDC offers a walking tour of Chinatown, a youth program in the summer, a documentary of Chinatown, and an outdoor film festival on the Rose Kennedy Greenway next to the Chinatown Gate.

The Comprehensive Housing Opportunities Program (CHOP) provides multilingual first-time homebuyer work-shops, financial education, and one-on-one counseling to families for their housing needs. CHOP is certified through the Federal Department of Housing and Urban Development (HUD), and the Seal of Approval Program sponsored by the Citizens’ Housing and Planning Association (CHAPA).

48% of our CHOP clients were low and extremely low income, or making less than 50% of the Area Median In-come. ACDC’s housing specialists counseled and edu-cated 340 clients, the majority of which were Asian immi-grants or limited English proficiency. ACDC assisted over 20 households close on their first home purchases and 65 households become mortgage-ready, creating a pipeline of homeowners. In addition, ACDC counseled over 50 households who were struggling with displacement, high rent burden, and/or homelessness.

Comprehensive Housing Opportunity Program (CHOP)

Sherry and Yi Zou, a Cantonese and English speaking couple that moved to Boston from abroad, learned about the necessary steps to becoming homeowners with ACDC’s HB101 class. They bought a condo in Brighton in early winter 2012. Now Sherry also volunteers in her spare time with ACDC’s homebuyer education program.

ACDC facilitates and organizes community planning processes to harness the effective participation of the Chinatown and Greater Boston Asian American communities. Our activities in 2012 included training workshops, translation, bringing legislator meet and greets, and survey selection. ACDC empowers and facilitates residents, business owners, youth, elders, and other key stakeholders to shape the neighborhoods in which they live, work, and play.

In one notable project, ACDC partnered with Quincy Planning Department, Metropolitan Area Planning Council, and Emerson College’s Engagement Games Lab for a community visioning project funded by the US Department of Housing and Urban Development Sustainable Communities Program. Together the project team created Quincy Community PlanIt. This online game and portal involved residents and stakeholders in the planning and visioning for the North Quincy and Wollaston neighborhoods, which have experienced an unprecedented upsurge in diversity over the past decade. Participants earned points for each activity in timed “missions” that focused on different aspects of neighborhood life such as recreation, the local economy, and transportation. Over 400 individuals participated in the game and community meetings throughout February to June 2012.

State representative Tacky Chan worked with ACDC to give a tour and “walk-shop of North Quincy neighborhood.

Community Planning &Organizing

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The 9th annual tournament marked the first year that ACDC partnered with the Liberty Mutual Insurance Invitational, “the #1 Charity Event in Golf,” to provide a world-class experience for golfers. This is a two day event hosted by the exclusive Lake Winnipesaukee Golf Club in New Durham, New Hampshire. Golfers can choose to go up early and take advantage of Day One which includes one complimentary round of golf with dinner provided andon Day Two, compete in the main tournament with allthe golfers.

Signature Events

In April, honored guests Governor Deval Patrick and State Treasurer Steve Grossman joined ACDC and its supporters to celebrate ACDC’s 25 years of community building at the glamorous Taj Boston. For this milestone year, ACDC celebrated its accomplishments and reaffirmed its commitment to working with the community to improve the quality of life for those living and working in our neighborhoods for the next quarter century.

Each summer ACDC transforms Chinatown Park at Boston’s famous Chinatown Gate into a free, outdoor theater, showing Kung Fu and classic Chinese-language films. The series seeks to:

• improve awareness of Boston’s Chinatown as a site of cultural activity

• restore a tradition of shared, public experience of Chinese-language films in Chinatown,

• provide temporary community use of Chinatown’s underutilized spaces,

• draw foot-traffic to neighborhood restaurants, and make downtown Boston a destination beyond the working hours.

This is the 7th year of the event. It is a collaborative project of Chinatown residents, Boston Street Lab, film curator Jean Lukitsch, and ACDC.

Golf Getaway

25th Anniversary Inspiriation Gala

Films at the Gate

ACDC offers several signature events each year to engage our community beginning with our annual benefit, the Inspiration Gala which honors outstanding contributors to civic life here in Chinatown as well as Greater Boston. Our Golf Getaway is the next event which brings together our business and community partners as well as avid golfers for a fun tournament. Finally, in late August, ACDC transforms a public space into an outdoor theatre and holds, Films at the Gate, a film series that offers family friendly kung fu fims and live martial arts demonstrations to residents, neighbors, and film lovers.

From left to right: Rev. Cheng Imm Tan, Jeffrey Wong, Susan Tow, George A. Russell, Randy Tow, Michael Tow, Massachusetts State Treasurer Steven Grossman and Janet Wu

Annual MeetingACDC held its annual meeting on November 27th at Hei La Moon Restaurant in Boston’s Chinatown. It was a great turnout with 150 guests in attendance. “The Role of Community Development Corporations in Our Economy’s Recovery” was presented by guest speakers Joe Kriesberg, President of the the Massachusetts Association of Community Development Corporations and Peter Madsen, Managing Director of Edo Essex Properties and ACDC board member. We honored David Taglieri, Mortgage Development Officer of Sovereign Bank as this year’s Outstanding Housing Educator.

Joe Kriesberg, President MACDC

Helen Chin-Schlichte, Kairos Shenand and Paul Watanabe

From left to right: Janelle Chan, Sonia Alleyne, David Taglieri, and Vivien Wu

Douglas Ling leads a caravan of golf carts

Leslie Davol is one of the co-founders of Films at the Gate, and the nonprofit, Street Lab. Leslie and her husband, Sam Davol are ACDC’s Inspiration Award recipients.

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Grants, Contributions &

Fundraising38.1%Real Estate

earned income60.8%

Program Earned Income

1.0%

Interest & Misc.0.2%

Community Programs

22.5%

Real Estate35.5%

Fundraising30.3%

Admin11.7%

Financial Information FY 2012

FY12 Annual Report Data (excluding OT interest)For a complete copy of our audit, please contact us at 617-482-2380

REVENUE

Grants, Contributions & Fundraising......................$392,413 38.1%Real Estate earned income....................................$626,932 60.8%Program earned income.............................................$9,944 1.0%Interest & Misc............................................................$1,644 0.2%

Total Revenue $1,030,933

EXPENSES

Community Programs............................................$178,421 22.5%Real Estate ............................................................$281,212 35.5%Fundraising.............................................................$240,169 30.3%Administration..........................................................$92,319 11.7%

Total Expenses $792,122

Total Assets $17,743,882

Liabilities $2,387,940

Net Assets $15,355,942

DonorsAction for Regional EquityIan AndersonBank of America Merrill LynchBarr Foundation Boston Foundation for ArchitectureBoston Private Bank & Trust Co.Boston Public Health CommissionBoston Redevelopment AuthorityBozzuto GroupPaul BuiShane CaiazzoCathay BankCathay Bank FoundationEd ChampyCaroline and Gene ChangNick ChauYongmei ChenGeorge ChinTerry ChinCitiBankCitizens’ Housing & Planning Association, IncCity of Boston DNDCommunity Development Corporation of BostonCommunity Economic Development Assistance Corporation Corporate Finance Group IncCrosby, Schlessinger, & Smallridge, LLCRobert DankeseDavis Square Architects, IncDavis, Malm & D’Agostine, P.C. Ambrose Donovan

Druker Company, LtdEast West BankEastern Bank Foundation Edwards Wildman Palmer LLP Ercolini & Company LLP Stephanie and John FanDonna and James FongMichael GrecoHingham Institute for SavingsHong Kong RestaurantHoward/Stein-Hudson AssociatesKuota HuangThomas HuwJohn Moriarty & AssociatesDongsup KimKlein Hornig LLPKVAssociatesTerry KwanMary and Paul W LeeRebecca LeeLee, Yee & Company PC Harvey LeongDouglas LingZena LumMaloney Properties, IncMassHousingMassachusetts Housing Investment CorporationMassachusetts Capital Resource CompanyMcNamara/Salvia, IncMcPhail Associates, IncMetlife Foundation

Millennium PartnersPeter MunkenbeckNational GridNCAPACDNEI General ContractingNew Boston Fund, Inc Abby Nguyen-BurkeNorthEast InteriorsNovo Nordisk IncProskauer Rose LLPRed Star Construction ServicesSouth Cove Community Health CenterState StreetJay SunTai Tung PharmacyTai Tung RealtyMichael TowSusan and Randy TowTisch College of Citizenship and Public ServiceTufts Medical CenterTufts School of Dental MedicineTufts UniversityUnited Way of Massachusetts BayWSP Flack + KurtzJeffrey WongEmily Yu

Halloween at the Reading Room

Chinese Henan Association Outreach

Chinese New Year Party

7th Annual Films at the Gate

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Janelle Chan Executive Director

Denise LauDirector of Resource Development and Communications

Vivien WuDirector of Programs

Lee Lin Housing Coordinator

May LuiOutreach Coordinator

Jason ChouOperations Management Consultant

Tim Doherty*Director of Real Estate Development

Iris Tan *Special Events Manager

Yanni Poulakos*Director of Development

Alvina Lin Condon*Operations Manager

John SickelConsultant CFO

Volunteers & InternsRamzi Babouder-Matta Karen CaiSelena Cai Katie ChenVincent ChiaAndrea ChiuAllison ChouLeah DriskaJustin Lianghui FengSissi Yuehong GeDavid Dawei Hu Jonathan LeeStella Legon

Kay Runqing LiMei-Hua LiTiger Xiaohu LiJohn LianKevin Liang Vicky LiaoEric Pan LinJo Jo Yun LuVanessa LyEsther NgBo MengKenny PhanCen Qiu

Anna QuachSnow Yifei Ren Shuping Shen Tom StackAnnie Liqin Sun Sandy Ta Yecheng TangTim WongVicky Wu Johnny Zhiyi YaoChristina Yu ZouSherry Zou

Michael TowPresident

Donsup Samuel Kim * Vice President

Jeffrey WongTreasurer

Geoffrey WhyVice Treasurer

Michael S. Greco Clerk

Nick ChauYongmei ChenChong ChowSoni GuptaCuong Hoang*Harvey LeongZena LumPeter MadsenPaul Lee**Yasuna Murakami*Geoffrey WhyLeverett Wing*

Board of Directors Staff

*ACDC thanks our outgoing directors and staff for their contribution.**ACDC welcomes Paul Lee as incoming Board President for 2013

ACDC Board of Directors (left to right, top row) Yongmei Chen, Harvey Leong, Jeffrey Wong, Peter Madsen (bottom row) Nick Chau, Terry Kwan, Zena Lum, Geoffrey Why and Soni Gupta

Staff and volunteers (left to right, top row) Tim Doherty, John Sickel, Vivien Wu, Tom Stack, Jason Chou (bottom row) Janelle Chan, May Lui, Sherry Zou, Lee Lin, Cen Qiu and Denise Lau