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Gov. Kay Ivey disappointed as underwriters pull out of Alabama prison deal


Gov. Kay Ivey disappointed as underwriters pull out of Alabama prison deal
Updated 2:28 PM;
Today 11:47 AM
Inmates sit in a treatment dorm at Staton Correctional Facility in Elmore, Ala., Wednesday, Sept. 4, 2019. The Department of Justice sued Alabama in December 2020 over excessive violence and other problems in state prisons for male inmates. (AP Photo/Kim Chandler) APAP
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Gov. Kay Ivey said this morning she was disappointed that the investment bank Barclays has withdrawn from underwriting the financing of two privately owned prisons that Alabama would lease and operate.
The governor said Barclays’ decision would not stop the plan to lease new prisons, which the Ivey administration and the Alabama Department of Corrections have been working on for more than two years. ....

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Ivey to sign leases for 2 new prisons; costs to exceed earlier projections


Ivey signs leases for 2 new prisons; costs not released
Updated Feb 01, 2021;
Alabama Gov. Kay Ivey signed 30-year lease agreements today on two new men’s prisons to be built and owned by private developers in Escambia and Elmore counties.
The agreements come after more than two years of planning by the Ivey administration and the Alabama Department of Corrections to build a total of three men’s new prisons. Negotiations continue on the third prison, which will be in Bibb County.
The first two prisons, to be built on Bell Fork Road near Atmore and on Rifle Range Road in Tallassee, will be financed, built, owned and maintained by a developer team led by CoreCivic, a national private prison firm. The state will staff and operate the prisons. ....

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