Roeder & Company, LLC announces the closing of a federal New Markets Tax Credits (NMTCs) financing for the Yakima YMCA in Yakima, Washington. Roeder & Company sourced $9 million in Federal NMTC allocation from Enterprise Community Investment for the financing of an approximately 66,000 square-foot facility that will include a youth development area, teaching kitchen, group fitness and cardio center, gym and indoor running track, three pools, and community gathering space. Wells Fargo provided the tax credit equity for the transaction.
The new YMCA facility has been designed with specific community needs in mind; the building will provide programming to help address difficulties accessing affordable child care, improve health care options and outcomes, reduce the obesity rate, and decrease participation in gang activity.
“The new YMCA facility in Yakima will offer no-cost programs year-round for drop-in youth that provide a safe, adult-supervised space for social, recreational, and academic support opportunities,” said Bob Romero, Executive Director of the Yakima YMCA. “It will also offer a new full-service fitness center accessible to the low-income community, as well as a number of programs focusing on increasing health and wellness.”
The project is a partnership with the City of Yakima which has committed its support to construction and long-term operation of the aquatic center. The growing list of community partners and supporters includes many organizations from both the public and private sectors.
“The ability to complete the building without debt is essential to the financial capacity of the YMCA to provide programs and services at free or reduced cost to low-income young people and families,” said Sara Pietka, Roeder & Company President. “NMTCs were crucial to completing this facility without the need for ongoing debt service.”
For more information on the Yakima YMCA, please visit http://www.yakimaymca.org/.
The new YMCA facility has been designed with specific community needs in mind; the building will provide programming to help address difficulties accessing affordable child care, improve health care options and outcomes, reduce the obesity rate, and decrease participation in gang activity.
“The new YMCA facility in Yakima will offer no-cost programs year-round for drop-in youth that provide a safe, adult-supervised space for social, recreational, and academic support opportunities,” said Bob Romero, Executive Director of the Yakima YMCA. “It will also offer a new full-service fitness center accessible to the low-income community, as well as a number of programs focusing on increasing health and wellness.”
The project is a partnership with the City of Yakima which has committed its support to construction and long-term operation of the aquatic center. The growing list of community partners and supporters includes many organizations from both the public and private sectors.
“The ability to complete the building without debt is essential to the financial capacity of the YMCA to provide programs and services at free or reduced cost to low-income young people and families,” said Sara Pietka, Roeder & Company President. “NMTCs were crucial to completing this facility without the need for ongoing debt service.”
For more information on the Yakima YMCA, please visit http://www.yakimaymca.org/.
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