UB Community Development, LLC Announces Community Facilities Lending Funding for City of Satsuma Public Safety Building
March 1, 2018 – Satsuma, AL – UB Community Development, LLC (UBCD), a community development partner of United Bank, announced today funding for the construction of the City of Satsuma Public Safety Building through their Community Facilities Lending Program. Mayor Tom Williams announced the city will be replacing their existing public safety building with a new state of the art facility housing their jail, police and fire department. The 9,600 square foot building on 7 acres will receive $2 million of funding from UB Community Development’s Community Facilities Lending Program.
UBCD President Alex Jones said “we look forward to assisting Mayor Williams and the City of Satsuma to construct this new facility. After visiting the existing facility, talking with the Mayor and the first responders, the need for this new facility the community was readily apparent.”
The City of Satsuma is one of the largest communities located near the City of Mobile and has experienced significant growth in the last few years due to its economic development. Their close vicinity to creeks and waterways has made the city known as a gateway to the Mobile Delta and Mobile River.
The overall poor physical condition of the existing facility coupled with safety issues led to the unanimous decision to replace the current facility. Several improvements will be added to the new facility such as: correcting the undersized dispatch doors that prevent the fire engines from pulling through the facility, a separate decontamination area for personnel and equipment, and an improved secure area for prisoner housing and an updated dispatch room.
Improving the public safety facility will better serve the community and residents of the City of Satsuma and expand the overall quality of the City’s first response capabilities. The building site will be east of Old Highway 43, north of Juniper Avenue. This location will allow access to Highway 43 which connects the majority of the city.
In 2016, United Bancorporation of Alabama became the only CDE headquartered in Alabama to receive a New Market Tax Credit allocation. This $65MM allocation was made possible because of United Bank’s designation as a Community Development Financial Institution (CDFI) and UBCD’s designation as a Community Development Entity (CDE) with a mission to bring economic viability to rural and low-to-moderate income areas. In 2017, following the successful management and deployment of more than $90MM of New Market Tax Credit funding, UBCD was awarded an allocation of $55MM of New Market Tax Credits. Since earning the CDFI designation in 2010, United Bank’s team has focused on creating products and services that positively impact consumers and small business. United Bank has been recognized by the FDIC for its work in these areas.
For more information about UB Community Development or for help in planning your next funding project, contact Alex Jones, President of UB Community Development at (251) 446-6017 or firstname.lastname@example.org.
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About United Bank
United Bank is a $597,000,000 financial institution that has enjoyed 114 years of service. United Bank has offices in Atmore, Brewton, Flomaton, Monroeville, Frisco City, Greensboro, Bay Minette, Foley, Lillian, Loxley, Magnolia Springs, Silverhill, Spanish Fort and Summerdale in Alabama. United Bank serves Santa Rosa County, Florida in Jay, Milton and Pace. For more information about United Bank, please visit our website at www.unitedbank.com. Member FDIC.
About UB Community Development
UB Community Development’s strong history as an experienced leverage lender in New Market Tax Credit transactions, coupled with our passion for improving the communities around us, make UBCD Alabama’s premier financial partner for rural economic and community development. Through our NMTC projects and Community Facilities Loan Program, UBCD is working with community development partners in the fields of healthcare, education, manufacturing public works and more. For more information about UB Community Development, visit our website at www.ubcommunitydevelopment.com