UB Community Development, a subsidiary of United Bancorporation of Alabama, Inc., Announces $25 Million in New Markets Tax Credit Funds to University Charter School

ATMORE, Ala., May 16, 2023 /PRNewswire/ -- UB Community Development, LLC (UBCD), a community development partner of United Bank, announced that it provided $6 million in New Markets Tax Credit (NMTC) allocations toward construction of a new 77,376-square-foot facility at the University Charter School located in Livingston, Alabama.

Dr. JJ Wedgworth, Head of School of University Charter School, stated, "UCS is honored to be able to partner with UB Community Development, LLC, on our new facility project as we grow our impact in Sumter County. We are extremely grateful to have a beautiful new state-of-the-art facility to house our students and support the greater needs of the Sumter County community. With the allocation of tax credits from UB Community Development, LLC, it allows us to expand, offer new programs and customize our space to create learning environments that best match student needs."

The new facility will provide twenty-six general instruction classrooms, all designed to be flexible in nature and positioned to take advantage of adjacent shared collaboration areas. Offices, conference rooms, areas for student and teacher resources as well as private counselors' areas, a nurse's station, a gymnasium and a 200 to 250-seat cafeteria will be included. The cafeteria is positioned to take advantage of an outdoor learning space to accommodate a farm to table educational garden.

Alex Jones, President of UB Community Development, LLC, stated, "Supporting an educational project of this caliber is core to who we are at UBCD. I am not sure today we can even begin to fully grasp the long-term impact this school will have on this community and its children. UBCD was excited to help play a small role in the project."

University Charter School was established in 2018 and is located on the campus of the University of West Alabama. It offers Pre-K through Twelfth grade. The new facility will allow UCS to increase its enrollment from 605 to 815 students. UCS prepares students for college, career, and life through personalized learning plans and project-based learning. Its curriculum is based on a rigorous and integrated Science, Technology, Reading, Engineering, Arts, and Mathematics (STREAM) focus.

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, affordable housing and more. For more information about UB Community Development, visit our website at www.UBCommunityDevelopment.com.

SOURCE United Bancorporation