The Ottawa YMCA obtains a loan of $12,897,000 from the United States Department of Agriculture. The loan will go to the new YMCA building the organization is building on the city’s shoreline. The loan comes from the USDA’s Rural Development Program, which helps communities in rural areas build, improve or acquire facilities. Executive Director Joe Capece also said an additional $1.1 million would be loaned to the organization if needed.
Capece says everything is still in place for the building to be completed by 2024 with a possible grand opening by mid-October this year. But due to rising material costs, anything outside the building will not be built. This includes an outdoor play area and south side parking.
The loan will be repaid over the next 35 years. He also says the community still needs to raise $600,000 before construction is complete. The goal was originally six million, but due to the cost of the materials, more money needs to be raised. The organization received support from OSF Healthcare and the City of Ottawa.
Close. YMCA board member Konni Rodeghier says the organization wouldn’t be where it is without the USDA loan.