The Ottawa YMCA is getting a $12,897,000 loan from the United States Department of Agriculture. The loan will go toward the new YMCA building the organization is building on city’s riverfront. The loan comes from the USDA’s Rural Development Program that helps communities in rural areas with construction, improvement, or acquisition of facilities. Executive Director Joe Capece also says there is an extra $1.1 million the organization will be loaned if needed.
Capece says everything is still in place to have the building built by 2024 with a ground breaking possibly by mid-October of this year. But because of rising costs for materials, not everything outside of the building will be built. That includes an outdoor playground and a south side parking lot.
The loan will be paid back over the next 35 years. He also says the community still needs to raise $600,000 before construction is completed. The goal was originally six million, but because of material costs more money needs to be raised. The organization has received help from OSF Healthcare and from the city of Ottawa.
YMCA Board Pres. Konni Rodeghier says the organization wouldn’t be where they are without the loan from the USDA.