Getting your Trinity Audio player ready...

UB Community Development LLC (UBCD), a community development partner of United Bank, announced today that it has closed a $5.3 million New Markets Tax Credit transaction with Escambia County Alabama Community Hospitals Inc., for the construction of a new Urgent Care Clinic in conjunction with National Community Impact Fund of Chicago.

The modern new healthcare facility is located on Alabama Highway 21 near Interstate 65 and the Wind Creek Casino and Hotel, and will allow increased access to care for all the citizens of Atmore, as well as Monroe County and Escambia County, Fla. The Urgent Care Clinic will feature a lab, x-ray equipment, a pharmacy and wellness care and will work in coordination with Atmore Community Hospital.

“Providing healthcare to the rural communities of Alabama is a vital undertaking, and a core mission of UBCD is to support healthcare providers,” Alex Jones, President and Chairman of UB Community Development LLC, said in a release. “With the headwinds rural hospitals face, NMTCs provide a much needed benefit to making these types of projects feasible.”

UB Community Development was recently awarded a $65 million New Markets Tax Credit (NMTC) allocation by the Department of the Treasury. The award was the result of United Bank’s ongoing commitment to enhancing the economic vitality of low-income communities in Alabama and Northeast Florida and marked the fourth allocation the company has received. The NMTC Program attracts private capital into low-income communities by awarding investors tax credits against their federal income tax in exchange for making investments in qualified projects.

UBCD uses the NMTC program to help fund small businesses and finance projects related to education, healthcare, manufacturing, hospitality, non-profits and community centers. The projects funded from UBCD’s NMTCs are creating jobs, providing housing options, goods and services, and improving access to healthcare across the region.

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.