Posted: October 6, 2021 at 5:00 a.m. CDT|Update: 19 hours ago
ATMORE, Ala., October 6, 2021 / PRNewswire / – UB Community Development, LLC (UBCD), a community development partner of United Bank, today announced the closure of a $ 7 million New Market Tax Credit Transaction with Buc-ee’s, Ltd., a Texaschain of convenience stores and gas stations with locations in Texas, Georgia, Florida and Alabama.
The 53,250 square foot Buc-ee Auburn will be located on approximately 35 acres in the northeast quadrant of Interstate 85 near Exit 50. It will have 144 gas pumps, electric charging stations and more than 437 parking spaces. This will be Buc-ee’s fourth convenience store in Alabama and will create more than 175 jobs in the Auburn community. The popular gas station and travel hub are known for their unique food offerings, merchandise, and large, clean restrooms. Other features will include a bakery, delicatessen, coffee bar and an expanded retail area.
“Have the opportunity to help bring another Buc-ee to Alabama and knowing that this will create over 175 high paying jobs for our fellow Alabamians is very gratifying. Buc-ee’s will be a great corporate citizen and we look forward to seeing this transformation project come to fruition, âsaid Alex jones, president of UB Community Development.
UB Community Development recently received a $ 65 million Allocation of the New Markets Tax Credit (NMTC) by the Department of the Treasury. The award was the result of United Bank’s continued commitment to improving the economic vitality of low-income communities in Alabama and Northeast Florida and marked the fourth allowance the company received. The NMTC program attracts private capital to low-income communities by giving investors tax credits from their federal income tax in return for investments in qualified projects.
UBCD uses the NMTC program to help fund small businesses and fund projects related to education, healthcare, manufacturing, hospitality, nonprofits, and community centers. UBCD’s NMTC-funded projects create jobs, provide goods, services and housing options, and improve access to health care across the region.
For more information on UB Community Development, or for help planning your next fundraising project, contact Alex jones, President, UB Community Development at (251) 446-6017 or by email at [email protected]
About United Bank
United Bank is a $ 1,000,000,000 financial institution that has benefited from 117 years of continuous service at Atmore, Alabama and surrounding communities. United Bank has offices at Atmore, Brewton, East Brewton, Flomaton, Monroeville, City of Frisco, Minette Bay, Foley, Liliane, Loxley, Magnolia springs, Silverhill, Spanish fort, Daphne, Semmes, and Summerdale in Alabama. United Bank serves Santa Rosa County, Florida in Jay, Milton, and Rhythm. For more information about United Bank, please visit our website at www.unitedbank.com. FDIC member.
About UB Community Development
UB Community Development’s solid history and experience in new market tax credit transactions, coupled with our passion for improving the communities around us, make UBCD Alabama the premier financial partner for development. economic and community. Through our NMTC projects, the Community Facilities Loan Program, and the Community Housing Investment Fund, UBCD works with community development partners in health, education, manufacturing , public works, affordable housing and more. For more information on UB Community Development, visit our website at www.UBCommunityDevelopment.com.
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SOURCE UB Community development
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