Wednesday, September 26, 2007

Funds Still Needed

YMCA seeks help in issuing bonds

By JUDY FITZMAURICE, Staff Writer
Huntington Herald Press September 26, 2007

Funds needed for the new Parkview Huntington Family YMCA are still about $2 million shy of the $9 million needed to construct the 54,000 square-foot facility, so “Y” officials are seeking financing to cover the difference. They came before County Commissioners Monday morning asking for help. Dick Fox, an attorney representing the YMCA, told the Commissioners that the organization can borrow money on a tax-free basis because of its status under Section 501(c)(3) of the U.S. Internal Revenue Code. The YMCA does, however, need a “conduit lender” in order to qualify for such financing. “We're looking to the county” to be that entity, Fox said. “The county would just be a conduit to accomplish this financing.” The county would issue bonds for the funds but have no obligation for repayment - the county would face no risk - by agreeing to serve as the conduit lender, Fox said. The bonds, or notes, would likely come from local sources - local financial institutions, he added.

“A lot of times groups just go out and sell bonds to businesses,” said Wayne Miller, a representative of Wells Fargo Bank, Chicago. “Our intent is to bring the entire community into this.” The county will have to revive its Economic Development Commission before the process can move forward. The Commission has been established but hasn't been used since the late 1980s, County Attorney Bob Garrett said. The Commission is made up of three people - one appointed by County Commissioners, one by County Council, and one by the Huntington Common Council. Commissioners Richard Brubaker, Steve Updike, and President Jerry Helvie agreed to contact several potential candidates and pass along the names of those willing to serve to County Council. Garrett took the issue to County Council Monday night, and Council gave him the go-ahead to work on the bonding proposal. He reiterated the fact that the county faces no liability in serving as the conduit lender. “They pay for it all,” Garrett told the Council. “There's no risk.”

YMCA officials hope to have the funding in place by the end of the year, but Garrett wasn't sure everything could be accomplished in that amount of time. Since the County Council does not meet again until Oct. 22, quickly appointing a new member to a revitalized EDC might require a special meeting.
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Welcome

Hello fellow Hummer alumni. We each have memories of the huge influence Glen S. Hummer had on us all. The Huntington YMCA is still conducting a continuing funding campaign for the marvelous new facility which replaces the one we all swam in and more since the team began in 1933. This space is for us to meet and/or meet up again. There were 250 at the reunion on June 16, 2007, coinciding with the newly reestablished Huntington Mile at ole Lake Clare in which many of us swam again. All are invited and welcomed to submit reminiscences here (click on "comments" in the section below.) See some of you, again we hope, at the 2010 Glen S. Hummer Huntington Masters Mile. And visit us on facebook too at http://www.facebook.com/home.php?#%21/group.php?gid=100802262318&ref=ts



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Huntington YMCA Building Program

Note: To donate to the fund-raising campaign for the new YMCA (and its Hummer Pool) contact:

Dan Akeley, Executive Director, Huntington YMCA, 607 Warren St., Huntington, IN 46750, 260-356-4200, ymcadan@kconline.com

From The Herald Press12/18/06

Goal: $8 million; In hand: $5.4 million; Yet to raise: $2.6 million

It will take $8 million to build a new YMCA, and that's the amount the Y's fund-raising committee has set as its goal. With the $2 million gift from Parkview Huntington Hospital - seven acres of land worth $450,000 and a pledge of $1.55 million in cash from the hospital's Community Benefit dollars - the capital campaign committee now has $5.4 million in hand, said Dan Akeley, the YMCA's executive director.

That $5.4 million, which includes pledges that will be paid over the next five years, came in as the result of a campaign that began in May as YMCA volunteers contacted potential major donors, Akeley said. That leaves the YMCA with $2.6 million yet to raise. Some of that will come from additional major donors, Akeley said, but the Y hopes to raise $250,000 from people throughout Huntington County who are everyday users (or former users) of the facility. An effort to reach those people will begin in late January and continue until June, Akeley said. YMCA volunteers will begin with personal contacts and later use phone calls and letters to solicit donations.

From The Herald Press, 12/18/06

The inside story: Nearly double the usable space

By CINDY KLEPPER, City Editor

The new Parkview Huntington YMCA will encompass about 52,000 square feet, all on one floor, with two pools, two basketball floors, and an elevated walking track. By comparison, the current facility has about 30,000 square feet of usable space on three levels, one pool, one basketball court, and no dedicated place to walk - although it does have numerous nooks and crannies that may have had a function when the Warren street building opened in 1930, but now serve no useful purpose.

The new building was designed by Moake Park Group, a Fort Wayne-based architectural firm whose work can be seen in the Parkview Huntington Hospital building as well as the Jorgensen Family YMCA in Allen County. Moake Park's design for the Huntington YMCA was intended for a 14-acre site north of Huntington that the YMCA board originally planned to purchase, said Dan Akeley, the Y's executive director. The building and parking areas would have occupied only seven acres of that site, Akeley said, and can be moved to the Parkview site practically unchanged. "The floor plans will basically be the same," Akeley said. "It worked for both sites." The remainder of the original 14-acre site would have held a soccer field, two retention ponds, and a fitness trail. At the new site, retention ponds are already in place outside the YMCA's seven acres. Although there's no room for a soccer field, there's a possibility of additional property being made available for soccer sometime in the future. In addition to surveying members about what they wanted in a new facility, YMCA board members checked out features of other recently built YMCAs.

"We learned a lesson from the Jorgensen YMCA," Akeley said. "They have one pool, and if someone has an accident in the pool, they have to shut down the whole thing." The Huntington Y board decided to go with two pools, side by side. "If somebody has an accident, we can just shut the one pool down," Akeley said. The smaller pool will have a "zero," or sloped, entry making it accessible to people in wheelchairs and others with limited mobility. It's water will be warm enough to be comfortable for swimming and aerobics classes. The second pool will be large enough to be used by swim teams and can also be used to host meets. The gym's two basketball courts can be separated by a curtain. A fitness center will include both free weights and cardio equipment, and an adjacent aerobics/dance area will feature floating floors. A walking track, one-tenth of a mile long, will be suspended around the perimeter of the gym, fitness center, and aerobics/dance area. An expanded child watch area will be located next to two preschool rooms.