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UB Community Development & National Community Investment Fund Announce $6.5 Million in New Markets Tax Credit Loan & Investment Fund for Local Nonprofit & Small Businesses.

Atmore, AL – UB Community Development, LLC (UBCD), a community development partner of United Bank, and National Community Investment Fund (NCIF) announce $6.5 million in New Markets Tax Credit (NMTC) funding for a loan and investment fund. The fund and its management are part of a collaboration of resources from UBCD & NCIF to fund local nonprofits and small businesses. This partnership marks the third project between UBCD & NCIF.

“NCIF invests in and lends with Network Bank Partners like United Bank to create impact in their local markets,” said Terry Burm, Senior Vice President of NCIF. “We invested equity into United Bank in 2019 and we continue to build this partnership to support their borrowers and create economic activity and job growth in the communities they serve.”

The $6.5 million loan and investment fund supported renovation and growth for four small businesses and one nonprofit. The fund created and maintained over 217 jobs through the deployment of more than $8 million in capital investments and expansion.

“Through our strong partnership with NCIF, UB Community Development is able to bring financial resources to meet the needs in our local community,” said Alex Jones, President of UB Community Development. “We continually see the potential for local business to grow and flourish, but the paucity of flexible capital in our region often inhibits that growth. By, through and with our partners, we can bring resources to bear to achieve powerful results. Terry Burm of NCIF asked me if I could put $6.5M to work in rural and severely distressed communities, and without hesitation I said, “Of course we can.” This was a team effort of NCIF, UBCD, United Bank, and US Bank, the tax credit investor. All parties including legal counsel and Baker Tilly, tax credit accountants, pulled together to make the fund happen.”

Local timber company, Owassa Holdings, LLC, owned and operated by Ziebach & Webb Timber Co., Inc, received $2 million of the fund for renovation of their $3.4 million timber operation in Owassa, AL. This wood yard specializes in debarking and treating timber for international export. Originally Dixie Chips Mill, this operation closed in 2004 and the company purchased the mill in 2017. They began a complete overhaul and update of the facility, installing a debarking line and container loading facility. In March 2019, the company commenced operations of the new debarking line and is now in full production. Employing 6 full-time employees, this project is projected to create 4 additional full-time onsite jobs, and 10-15 jobs for drivers.

A local general contractor received $563,000 for the construction of a restaurant and planned retail or office space. The 2,300-square-foot restaurant has already hired 10 full-time employees with an anticipated 20 additional employees once operations commence. These funds will also support the development of an adjoining outparcel for a planned additional retail/office development. This project is a transformational undertaking for a rural and impoverished Alabama community.

Through its real estate holding affiliate, DDHMS Associates, LLC, Holland Industrial Services, Inc. participated in the fund for $408,000 of a total project cost exceeding $1,075,000. Since 1992, Holland Industrial Services has specialized in preventative maintenance, testing, sales and repair of industrial and commercial electrical distribution equipment. The company operates out of an 11,000-square-foot facility in Bay Minette. Currently, Holland employs 25 full-time employees and anticipates the creation of at least 6 new full-time jobs over the next 3 to 5 years. As a result of the company’s experience and knowledge of the industry, management anticipates additional market expansion and continued growth.

A developer received $1.53 million to open a new Popeye’s Restaurant in Jackson, Alabama. This 2,100- square-foot project is expected to create fifteen full-time jobs. The restaurant will be green globe certified for its environmentally sustainable design built with energy efficient lighting and utilities. Located on Highway 43, the addition of this successful franchise to a highly visible traffic thoroughfare will provide new full-time jobs and a convenient accessible restaurant for the local community and travelers, in addition to new tax revenue to the city.

YMCA of South Alabama received $2 million in financing. With 5 locations serving Baldwin & Mobile County, this mission driven nonprofit brings meaningful change to individuals and communities served. Currently employing 20 full-time employees and 400 part-time, the YMCA has three main areas of focus including youth development, healthy living and social responsibility. With more than 22,652 members and a childcare serving more than 600, this organization is helping individuals reach their full potential.

For more information about UB Community Development or for assistance with funding or structuring your next project, contact Alex Jones, President, UB Community Development at (251) 446-6017 or email alex.jones@unitedbank.com.

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About United Bank
United Bank is a $733,000,000 financial institution that has enjoyed 116 years of continuous service to Atmore, Alabama and surrounding communities. United Bank has offices in Atmore, Brewton, East Brewton, Flomaton, Monroeville, Frisco City, Bay Minette, Foley, Lillian, Loxley, Magnolia Springs, Silver Hill, Spanish Fort, Daphne, Summerdale and Semmes 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 and experience in New Markets Tax Credit transactions, coupled with our passion for improving communities, make UBCD Alabama’s premier financial partner for economic and community development. Through our NMTC projects, Community Facilities Lending Program and Community Housing Capital Fund, 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.

About NCIF
National Community Investment Fund (NCIF; www.ncif.org.) is an impact investor and national nonprofit Community Development Financial Institution (CDFI) formed in 1996 with a mission to increase access to responsible financial products and services in underserved communities. NCIF is the largest investor in CDFI banks with investments in 18 institutions. NCIF achieves its mission via investing capital in CDFI and Minority Banks, deploying New Markets Tax Credits to support customers of our partner banks and lending to enhance the flow of capital to these communities. NCIF investing and lending activities have a foundational Theory of Change supported by impact measurement.

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UB Community Development Announces a $7.5 Million Allocation from the New Markets Tax Credit (NMTC) Loan & Investment Fund to Renovate and Expand Sullivan’s Grocery Stores.

Atmore, AL – UB Community Development, LLC (UBCD), a community development partner of United Bank, has announced a $7.5 million allocation from the New Markets Tax Credit (NMTC) Loan and Investment Fund for the renovation and expansion of a total of five Sullivan’s Grocery Stores in Mississippi.

All of the stores are located in food deserts, areas with limited access to affordable, nutritious food. Funds will be used to renovate, equip, and stock four existing Sullivan Grocery stores in New Hebron, Forest, Ruleville, and Raleigh, Mississippi. The funding will also be used to establish a new store in Brookhaven, Mississippi.

The predevelopment and construction associated with the five individual projects are expected to create approximately 57 direct, full-time jobs. Once completed, the five stores will create an estimated 57 full-time permanent jobs and 97 part-time jobs in the next seven years.

A portion of the funding will go to the development of a new store in Brookhaven, which will measure 48,000 square feet. The total cost of building, equipping, and stocking the new store will be approximately $1.97 million. It is estimated the store will create 20 part-time and 35 full-time jobs over the next seven years.

The four existing stores, located in New Hebron, Ruleville, Raleigh and Forest, will be expanded, renovated, and restocked. These updated stores, which will total more than 67,000 square feet, will give area residents much easier access to high-quality, fresh, and affordable food. The remodeled stores will also create 19 part-time and 27 full-time jobs in the communities where they are located.

Sullivan’s Inc. is solely owned by President and CEO, Steve Sullivan. With more than 40 years of experience in the grocery business, he is dedicated to his businesses and works full time as a “hands on” manager. Sullivan’s Inc. currently has approximately 500 employees. Sullivan’s Inc. owns stores in Brookhaven, Bude, Flora, Forest, Hattiesburg, New Hebron, Raleigh, Ruleville, and Vicksburg, Mississippi, as well as Clinton, Amite, Kentwood, and Monroe, Louisiana. Sullivan’s Grocery stores are known for full-service meat departments and selling local produce. Steve Sullivan, CEO of Sullivan’s Grocery said, “These funds will allow us to expand and renovate several existing stores in rural Mississippi. This is where we live, and we are thankful to be able to bring fresh foods to rural markets at an affordable price. We are especially excited about the opening of our new store in Brookhaven, and the community has already turned out in support of having a locally owned grocery store in their neighborhood.”

These loans were originated through a partnership with Peoples Bank, a Mississippi-based Community Development Financial Institution (CDFI). Peoples Bank CEO, Dennis Ammann said, “Our partnership with United Bank is an excellent example of two community banks working together to improve the lives of the people in our neighborhoods; helping Sullivan’s Grocery improve and expand local access to fresh produce and meats is an important part of what CDFIs like Peoples & United Bank are all about.”

For more information about UB Community Development, or for help with planning your next funding project, contact Alex Jones, President, UB Community Development at (251) 446-6017 or email alex.jones@unitedbank.com.

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About United Bank
United Bank is a $713,000,000 financial institution that has enjoyed 115 years of continuous service to Atmore, Alabama and surrounding communities. United Bank has offices in Atmore, Brewton, East Brewton, Flomaton, Monroeville, Frisco City, Bay Minette, Foley, Lillian, Loxley, Magnolia Springs, Silver Hill, 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 and experience in New Markets Tax Credit transactions, coupled with our passion for improving the communities around us, make UBCD Alabama’s premier financial partner for economic and community development. Through our NMTC projects, Community Facilities Lending Program and Community Housing Capital Fund, 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.

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UB Community Development Announces $7 Million in New Markets Tax Credit Funding to Transform Historic Cleburne County High School into Assisted Living and Memory Care Facility.

Atmore, AL – UB Community Development, LLC (UBCD), a community development partner of United Bank, has announced $7 million in New Markets Tax Credit (NMTC) funding as part of a $13 million project to transform the historic Cleburne County High School, a National Historic Landmark, into Carillon Oaks, a state-of-the-art senior living facility.

The project is being developed by Mobile-based Lathan & Coleman. The firm worked to combine three incentive programs, Opportunity Zone, New Markets Tax Credit and Alabama’s Historic Rehabilitation Tax Credit to bring the much-needed senior living facility to Heflin. This project was the first in Alabama to combine all three programs.

Partner Jerry Lathan’s development background is in historic restoration, while Stuart Coleman’s has been in senior care. “This project was a natural fit for us,” Lathan said. “Typically, a rural town of Heflin’s size has no assisted living or memory care and families are often separated from their loved one by a drive of an hour or more. Bringing a high level of care to this town was particularly close to our hearts.”

Lathan’s comments were echoed by Heflin Economic Development official Tanya Maloney. “Small towns are often underserved when it comes to memory care — residents are often lucky to find any at all. The state limits the number of beds per county, and these beds will be the only ones for Cleburne County.” She added Carillon Oaks would provide a full spectrum of services with a keen focus on the social needs of residents.

“It’s not only a tremendous asset for this town, it’s a scalable model for other communities,” said Anoop Mishra, regional executive with the Federal Reserve Bank of Atlanta in Birmingham.

When the project is complete in 2020, the beloved Cleburne County High School, which was built in 1936 and has been vacant since 1984, will have 39 assisted living beds and 16 beds in the memory care facility. It will feature a bistro, chapel, beauty salon and family gathering areas. The restored auditorium will provide public space for receptions and other events.

Around-the-clock care will include nurses and security, and management of medications and incontinence will be available as residents’ needs change. In the memory care cottage, residents will receive the highest level of attention from teams with a depth of experience in memory care service. Medication management, incontinence management and proactive care and wellness plans will be provided. The project is expected to create more than 40 new jobs.

“Community support has been incredible,” Coleman said. “It is what programs like these are all about—to bring this type of benefit to wonderful communities like Heflin.” Lathan & Coleman is also building a 48-bed Carillon Oaks Memory Care facility in Mobile.

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UB Community Development announces $8 million in New Markets Tax Credit funding for Hamilton Homebuilders.

Atmore, AL – UB Community Development, LLC (UBCD), a community development partner of United Bank, has announced $8 million in New Markets Tax Credit (NMTC) funding for Hamilton Homebuilders to update and reopen manufacturing facilities in Hamilton and Double Springs, Alabama.

Hamilton Homebuilders is a leading manufactured home builder committed to building homes with quality craftsmanship and modern comfort. The NMTC funding will be used to update, refurbish, and reopen two manufacturing locations.

The facility in Hamilton, AL was originally constructed in the early 1970s and was closed for over five years while the owner determined if it would be feasible to refurbish and reopen the facility in a manner to support its operations.

The NMTC funding will allow Hamilton Homebuilders to make the necessary investments in the facility to meet modern production requirements. Given the rural location and specialty nature of the equipment, traditional financing was not a viable option to complete the scope of the project. Without the NMTC funds, the company would have been unable to make the necessary investments in technology and infrastructure (sprinklers, ventilation, plumbing, and sewage) to bring the facility to an optimal working capacity.

The square footage of the Hamilton facility is 211,000 and the cost for updating and refurbishing will be $3.7 million. The Double Springs facility measures 158,300 square feet and the total cost of that project will be $4.1 million. Once the facilities are up and running, general production will require approximately 250 full-time employees. Three maintenance jobs, 10 production managers, eight administration managers, and six administrative positions will also be filled.

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UB Community Development Announces Partnered Funding for Abbeville Fiber Sawmill Creating 115 Full Time Jobs

Atmore, AL – UB Community Development, LLC (UBCD), a community development partner of United Bank, has announced partnered funding for the new fiber sawmill in Abbeville, Alabama.

The mill is a state-of-the-art sawmill, featuring the latest technology in the industry and is located in the former West Point Stevens textile plant off U.S. Highway 431 and Alabama Highway 27. The mill is operated by Abbeville Fiber, a part of Great Southern Wood Preserving, Inc. It has the capacity to produce 200,000 feet a day of finished wood and will purchase an estimated $14 to $15 million of yellow pine timber annually from suppliers within a 50-mile radius of the plant.

The mill represents a $40 million investment, the largest ever in Henry County, and will employ up to 115 people at full production, which will include truck drivers. It will initially consume 40-45 truckloads of logs per day but can increase production by adding additional shifts. The first load of logs was received in early July from Charles Money Logging.

An additional $850,000 Community Development Block Grant awarded to the Henry County Commission will provide transportation construction assistance to ship lumber, timbers, and posts at the Abbeville Fiber plant. The mill is also expected to expand the need for timber in southeast Alabama resulting in additional jobs in the forest industry.

The Henry County Commission and the city of Abbeville also contributed $160,000 to the project.

“As we have seen during my administration, Alabama’s timber industry is at full throttle,” said Alabama Governor Kay Ivey. “It has been my experience that a big demand for wood is an indication of confidence in the economy, and that confidence leads to growth in housing and business in general. I am pleased to support this project to provide timber- industry jobs in Abbeville and Henry County.”

Great Southern Wood Preserving, Inc., based in Abbeville, Alabama, is a manufacturer of lumber products and distributor of building products servicing Do-It-Yourself retail home centers, pro dealers, and other retail building-related and industrial segments. Founded in 1970, Great Southern Wood has 14 plants located in Alabama, Arkansas, Florida, Georgia, Mississippi, Missouri, Louisiana, Maryland, Virginia, Pennsylvania, and Texas. The company, best known for its YellaWood® brand pressure treated pine, services a coverage area that stretches from the Florida Keys to Texas to Canada, an area that includes all or parts of 28 states and the District of Columbia.

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United Bank and UB Community Development provide funds for the construction of Village at Bridge Creek Apartments.

Atmore, AL – United Bank and UB Community Development have provided $175,000 in secondary financing to the Community Action Partnership of North Alabama (“CAPNA”) for the construction of Village at Bridge Creek Apartments, a 56-unit affordable seniors multi-family project to be built in Cullman, Alabama. Funding for this loan was made possible due to the bank’s 2018 Capital Magnet Fund award. United Bank also is providing $3 million in additional funding, as a participant in Bank Independent’s construction facility.

“We are very excited to be part of the development of Village at Bridge Creek Apartments,” said Joe Raines of UB Community Development. “Providing quality affordable housing is just one of the many ways that CAPNA serves North Alabama well, and Village at Bridge Creek will bring much-needed affordable housing to senior adults in Cullman,” said Raines.

“This will be our second project with UBCD and United Bank, and once again, their funding provides a vital piece of our overall financing structure for Village at Bridge Creek,” said Aron Boldog, Director of Real Estate Development for CAPNA.

In 2018, United Bank was the only Alabama-based bank to receive a Capital Magnet Fund award, and is further validation of United’s strong commitment to providing unique and meaningful capital solutions to community development projects across Alabama and Florida.

For more information about UB Community Development, or for help with planning and funding your next Community Housing Capital project, contact Joe Raines, Senior Vice President of United Bank and UB Community Development at (205) 314-5790 or email joe.raines@unitedbank.com.

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About United Bank
United Bank is a $677,000,000 financial institution that has enjoyed 115 years of continuous service to Atmore, Alabama and surrounding communities. United Bank has offices in Atmore, Brewton, Flomaton, Monroeville, Frisco City, Bay Minette, Foley, Lillian, Loxley, Magnolia Springs, Silver Hill, 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 Markets 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, Community Facilities Lending Program and Capital Magnet Fund, 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.

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UB Community Development announces $6.8 million in New Markets Tax Credit funding for Auburn Research Park, Auburn, Alabama.

Atmore, AL – UB Community Development, LLC (UBCD), a community development partner of United Bank, has announced $6.8 million in New Markets Tax Credit funds to the Auburn Research and Technology Foundation to build and develop the Research and Innovation Center. Community Bank Lender David Stewart helped secure financing for the project.

The more than 100,000-square-foot center will be home to Auburn University’s Vice President for Research and Economic Development, Harbert College of Business Tiger Cage Accelerator, the Auburn Business Incubator, a café/restaurant, and a range of commercial clients. The specific focus of the Research and Innovation Center is to connect community members with research-based resources that serve to grow business – from student entrepreneurs to global corporations.

Tenants in the Research and Innovation Center will expand professional economic development support services to the city, state and region. The café will provide food services for Auburn Research Park and nearby Auburn University Campus, and will offer an array of items from locally-owned businesses who use a farm-to-table model to offer healthy, locally-grown food. Full-service incubators aid commercialization of university and community-derived technologies and services by providing a network of support and programming tailored to the needs of start-up and early stage companies. Services will include cost-effective space and flexible leases, networking opportunities, shared business services and equipment, assistance in accessing investment and grant funds, and connectivity to technical and entrepreneurial expertise at Auburn University and its network of alumni and partners.

Auburn Research and Technology Foundation Executive Director, Larry Fillmer said “The work being done in the park is critical to Auburn’s commitment to excellence and to leading, influencing, engaging and developing partnerships that deliver real-world solutions. We want to utilize university expertise to help communities thrive and citizens prosper, and that starts with the concepts and mindsets right here at Auburn.”

UB Community Development Chairman and President and CEO of United Bank Robert Jones stated, “The center embodies entrepreneurship and job creation combined with the leverage of a research university. In addition, the alignment with locally-sourced food is a perfect fit for a land-grant university and an AG bank, which is active in this space. As an alumni, I’m proud to partner with Auburn in this project to benefit our state and its entrepreneurial spirit.”

The City of Auburn is the home of Auburn University, a nationally ranked institution and land-grant university recognized for its commitment to world-class scholarship. Located within the campus is the Donald E. Davis Arboretum, which has a collection of native plants; the Jonathan Bell Lovelace Museum which documents the university’s athletics history; and the Jule Collins Smith Museum of Fine Art which showcases art from the 18th through 21st centuries.

For more information about UB Community Development, or for help with planning your next funding project, contact David Stewart, SVP Commercial Lender, United Bank at (251) 943-2026 or email David.Stewart@unitedbank.com.

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United Bank and UB Community Development provide funds for the construction of Graceway Apartments

Fairhope, AL – United Bank has provided $550,000 in secondary financing to The Morrow Companies for the construction of Graceway Apartments, a 48-unit affordable, multi-family project for seniors to be built in Fairhope, Alabama. A substantial portion of the funding is from United Bank’s 2018 Capital Magnet Fund Award managed by UB Community Development, a community development partner of United Bank. United Bank is also providing $3.3 million in additional funding, as a participant in BBVA Compass Bank’s construction facility.

“We are thrilled to provide capital to The Morrow Companies for Graceway Apartments,” said Joe Raines of UB Community Development. “Graceway is an exciting new project for the Eastern Shore that will provide much needed affordable housing to senior adults in Baldwin County,” said Raines.
“We appreciate the new relationship with UBCD and United Bank in partnering with us on the Graceway project,” said David Morrow, President of The Morrow Companies. “The expertise of the United team was invaluable in helping us craft a creative structure that recognized the unique aspects of the transaction, and will ensure the project’s success,” added Morrow.

The Capital Magnet Fund (CMF) Program is administered by the Community Development Financial Institutions Fund within the U.S. Treasury Department. The CMF program offers competitively awarded grants to qualified institutions and non-profits, for the purpose of providing affordable housing solutions and community revitalization efforts to low-income people nationwide. In 2018, United Bank was the only Alabama-based bank to receive a Capital Magnet Fund award, and is further validation of United’s strong commitment to providing unique and meaningful capital solutions to community development projects across Alabama and Florida.

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About United Bank

United Bank is a $670,000,000 financial institution that has enjoyed 115 years of continuous service to Atmore, Alabama and surrounding communities. United Bank has offices in Atmore, Brewton, Flomaton, Monroeville, Frisco City, Bay Minette, Foley, Lillian, Loxley, Magnolia Springs, Silver Hill, 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 Markets Tax Credit transactions, coupled with our passion for improving the communities around us, make UBCD Alabama’s premier financial partner for economic and community development. Through our NMTC projects, Community Facilities Lending Program and Community Housing Capital Fund, 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.

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United Bank and UB Community Development provide funds for the construction of Nathan Ridge Apartments in Wetumpka, Alabama.

July 2, 2019 – Atmore, AL –United Bank and UB Community Development have provided $275,000 in secondary financing to DSI Real Estate Partners for the construction of Nathan Ridge Apartments, a 56-unit affordable seniors multi-family project to be built in Wetumpka, Alabama. Funding for this loan was made possible due to the bank’s 2018 Capital Magnet Fund award. United Bank is also providing $3.6 million in additional funding, as a participant in Bank Independent’s construction facility.

“We are thrilled to be part of the financing for Nathan Ridge Apartments,” said Joe Raines of UB Community Development. “Terry and his team have an impressive track record in developing safe and affordable properties for senior adults and families across Alabama, and Nathan Ridge will be a tremendous addition to Wetumpka and Elmore County,” said Raines.

“The funds provided by UBCD and United Bank are a crucial piece of our overall financing structure for Nathan Ridge, allowing us to ensure a successful project,” said Terry Mount, Founder and Principal of DSI Real Estate Partners.

The Capital Magnet Fund Program is administered by the Community Development Financial Institutions Fund within the US Treasury Department. The CMF program offers competitively awarded grants to qualified institutions and non-profits, for the purpose of providing affordable housing solutions and community revitalization efforts to low income people nationwide. In 2018, United Bank was the only Alabama-based bank to receive a Capital Magnet Fund award and is further validation of United’s strong commitment to providing unique and meaningful capital solutions to community development projects across Alabama and Florida.

For more information about UB Community Development, or for help with planning your next funding project, contact Joe Raines, Senior Vice President of United Bank and UB Community Development at (205) 314-5790 or email joe.raines@unitedbank.com.

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About United Bank
United Bank is a $670,000,000 financial institution that has enjoyed 115 years of continuous service to Atmore, Alabama and surrounding communities. United Bank has offices in Atmore, Brewton, East Brewton, Flomaton, Monroeville, Frisco City, Bay Minette, Foley, Lillian, Loxley, Magnolia Springs, Silver Hill, 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 and experience in New Market Tax Credit transactions, coupled with our passion for improving the communities around us, make UBCD the Southeast premier financial partner for economic and community development. Through our NMTC projects, Community Facilities Lending Program and Capital Magnet Fund, 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.

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UB Community Development announces $7 million dollars of New Markets Tax Credit funds for the Skegee Travel Center in Tuskegee, Alabama.

June 27, 2019 – Atmore, AL –UB Community Development, LLC (UBCD), a community development partner of United Bank, has announced $7,000,000.00 in New Markets Tax Credit funds allocated to Skegee Travel Center Holdings, LLC, for the development of the Tuskegee Travel Center. Community Bank Lender David Stewart helped secure financing for the project.

The 10,000 square foot travel center will be located at 3680 Highway 81 North in Tuskegee, Alabama, and when completed, will include a Huddle House Restaurant, Little Caesars Pizza, Krispy Krunchy Chicken, a convenience store, fueling center, gift shop, and Greyhound Bus Station. It will help create an estimated 38 full-time and 9 part-time jobs as well as six direct construction jobs. It is expected that a majority of these positions will be filled from the local community. The project is expected to be completed in 2020.

The project is being completed in conjunction with a master plan targeted at spurring developments within the 100-acre Tuskegee commerce park. The plan calls for the construction of an 85-room branded inn and suites hotel, a welcome center, and four full service restaurants – all of which will be developed adjacent to the project site post-completion. In addition, the commerce park features several “shovel ready” sites that have been identified for light industrial and commercial use. At this time, it is estimated that the additional developments will be approximately $15,000,000.

Local support for this project is tremendous as this is the first development at the interstate. Owner and developer of the property, Jeffrey Potter, is honored to be part of the destination exit for travelers. “I see truckers stopping in. I see cars parking. I see visitors visiting our historical sites. We consider this plan A to the development of Tuskegee.”

Joe Turnham, Macon County Economic Development Authority Director, said, “We estimate at full operation about 300,000 people will come to the travel center each year.”

Tuskegee is located in central Alabama, 40 miles east of Montgomery, and is the county seat of Macon County. It was founded in 1833 and incorporated ten years later. Tuskegee has been an important site in African-American history and highly influential in United States history since the 19th century. In addition to Tuskegee University and Tuskegee Veterans Administration Medical Center, it is also home to the Tuskegee Human and Civil Rights Multicultural Center and Tuskegee Airmen National Historic Site, both major attractions to this historical city.

For more information about UB Community Development, or for help with planning your next funding project, David Stewart, SVP, Commercial Lender United Bank at (251) 943-2026 or email david.stewart@unitedbank.com.

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