The Westervelt Company, Inc., a land resource organization, operates timberland and natural resources in the United States and internationally. It operates sporting lodges for deer, turkey, quail, and dove hunting in Alabama; wildlife management, such as providing wildlife and recreational property management guidance and managing hunting leases for landowners in the Southeast; offers hunting leases in Alabama, Georgia, Mississippi, Florida, Louisiana, South Carolina, North Carolina, and Virginia; sells recreational properties to landowners and investors; and sells spring/summer blends and fall blends. The company also provides wildlife management services, such as property management assess...
1400 Jack Warner Parkway NE
Tuscaloosa, AL 35404-8999
Founded in 1884
Wnc & Associates, Inc. Collaborates with Three Other Community Development Entities to Provide The Westervelt Company, Inc
Sep 24 12
WNC & Associates, Inc. has collaborated with three other community development entities to provide The Westervelt Company, Inc. $55.5 million in New Markets Tax Credit (NMTC) financing for the $71 million construction of an alternative energy wood pellet manufacturing facility in Aliceville, Ala. WNC & Associates provided $6 million of the $55.5 million in NMTC allocations in its collaboration with Wells Fargo Bank, N.A., Rural Development Partners and Coastal Enterprises. WNC has also entered into a community benefits agreement, whereby The Westervelt Company will contribute $110,000 to be reinvested into the community for much needed services, such as employment training programs and programs which provide: education support services for local youth; down payment assistance to low-income persons for affordable housing home ownership; weatherization of existing housing for low-income community residents; and support for local area businesses, such as farmers markets. Westervelt will purchase wood for its new facility from the local Southern Yellow Pine timber market, covering a 50-mile radius. The manufacturing of wood pellets is expected to significantly increase demand for timber and trucking companies in Pickens County, as well as utilize local barging operations for transportation of goods. The wood pellets created at the facility are considered a renewable source of energy with a nearly neutral carbon balance, substantially reducing the carbon dioxide emissions when compared to open burning, landfill disposal and others. Additionally, due to the pellets' low moisture content when compared to coal, the alternative energy source aids its consumers in reducing their carbon footprint by offering better and more uniform heating properties per unit volume.