Regions Bank Offers JSU $34 Million Loan for Rebuilding Efforts

Thursday, April 18, 2019

 

Jacksonville State University’s campus has been under construction since the March 19th tornado swept through. Some projects however, have been put on hold due to insurance claim issues. An Alabama-based bank has offered JSU a loan to help continue rebuilding efforts.

 

JSU’s Board of Trustees have accepted a loan offer from Regions Bank in the amount of $34 million. This loan will go towards the demolition and reconstruction of Merrill which was completely destroyed during the tornado. An insurance adjuster offered the university less than it deserved in order to rebuild Merrill Hall, which resulted in the university putting a hold on starting the demolition process.

 

There is no official date on when the demolition process will begin however, until construction is complete, students will continue taking classes at the old Kitty Stone Elementary School and the former RMC Jacksonville building that are both owned by the university.

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