WE’RE HERE FOR OUR COMMUNITY

$3.1 Million Community Facilities Loan Package

The funds will be used for the purchase of an estimated 9,400 automatic radio read water meters, two blowers at one of NBU’s wastewater treatment plants and the installation of an additional well.

This new equipment will improve overall efficiency and allow NBU to continue to expand and serve more residents of Bay Minette, Stockton and Stapleton, Alabama.

Established by the City of Bay Minette in 1945, NBU is a public utility providing water, wastewater and natural gas to the residents of North Baldwin County. NBU provides water to over 40,000 residents, natural gas service to 1,800 residential customers and nearly 400 industrial and commercial customers, and sanitary sewer service to most of the residents and businesses in Bay Minette.

$3.5 Million New Markets Tax Credit Allocation

The funds will be used to construct a 6,900-square-foot office facility that will replace the current office in downtown Mobile, Alabama. The project is expected to create 26 temporary construction jobs and 6 permanent positions after completed. The new facility will be constructed on the same site as the CFSA’s existing building and allow the nonprofit to expand its operations and provide additional services, support and opportunity to residents and organizations in the eight counties it serves.

$5.9 Million New Markets Tax Credit Allocation

The funds will be used to construct a 6,900-square-foot office facility that will replace the current office in downtown Mobile, Alabama. The project is expected to create 26 temporary construction jobs and 6 permanent positions after completed. The new facility will be constructed on the same site as the CFSA’s existing building and allow the nonprofit to expand its operations and provide additional services, support and opportunity to residents and organizations in the eight counties it serves.

$2 Million New Markets Tax Credit Allocation

With five locations serving Baldwin & Mobile Counties, the non-profit YMCA of South Alabama currently has 20 full-time and 400 part-time employees. The mission-driven YMCA has three main areas of focus including youth development, healthy living and social responsibility. With more than 22,652 members and a childcare program serving more than 600, this organization is critical to many members of the communities it serves.

The $2 million in funding for the YMCA of South Alabama came from a $6.5 million New Markets Tax Credit-funded loan and investment pool. The fund and its management are part of a collaboration of resources from UBCD and National Community Investment Fund (NCIF) to support local nonprofits and small businesses. This partnership marks the third project between UBCD and NCIF.

$6.8 Million New Markets Tax Credit Allocation

Funds will be used by the Auburn Research and Technology Foundation to build and develop the Research and Innovation Center. The focus of the Auburn Research Park and Innovation Center will be to connect the community with research-based capabilities and assets to help support entrepreneurial efforts as well as the growth of businesses of all sizes.

The more than 10,000-square-foot center will house the Harbert College of Business Tiger Cage Accelerator, the Auburn Business Incubator, a café/restaurant, and numerous commercial clients. Auburn University’s Vice President of Research and Economic Development will also be located in the new center.

Tenants in the Research and Innovation Center will expand professional economic development support services to the city, state and region.

$8 Million New Markets Tax Credit Allocation

The funds will be used to renovate, update and reopen Hamilton Homebuilder’s manufacturing facilities in Hamilton and Double Springs. The project is expected to generate more than 275 jobs.

Traditional financing to update and reopen the two facilities was not an option due to the rural location and nature of the equipment. Without the NMTC funds, Hamilton Homebuilders would not have been able to make the necessary updates required to resume production at either location.

The two manufacturing locations were built in the 1970s and have been closed for five years as the owner determined whether the facilities would be updated.

Updating and refurbishing the Hamilton facility, which is 211,000 square feet, will be $3.7 million. The Double Springs facility, which is 158,300 square feet will cost $4.1 million to bring up to modern production standards. At both facilities, investments will be made in technology and infrastructure, which includes sprinklers, plumbing, sewage and ventilation.

$2 Million Provided by United Bank
$150,000 from Capital Magnet Fund Award

United Bank used Capital Magnet Funds to invest in affordable housing at Trinity Lakes.

United Bank provided $150,000 in Capital Magnet Funds to The Bennett Group to be used as supplemental funds for the construction of Trinity Lake Apartments, a 56-unit, affordable multi-family project in Smiths Station, Alabama. United Bank also provided $2 million in additional funding as a partner in the construction of the facility.

$3.6 Million Provided by United Bank
$275,000 from Capital Magnet Fund Award

Financing is for the construction of Nathan Ridge Apartments, a 56-unit affordable seniors multi-family project to be built in Wetumpka, Alabama. United Bank is also providing $3.6 million in additional funding as a participant in the construction of the facility.