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Stamford approves purchase of YMCA building at 10 Bell Street and $5.3 million appropriation
Summary
The Stamford Planning Board unanimously approved a purchase-and-sale agreement to acquire the YMCA property at 10 Bell Street for $3.65 million and authorized a $5.3 million supplemental capital appropriation to complete the transaction and initial work. City staff outlined three operating scenarios and estimated renovation needs; title clearing remains a precondition for closing.
The Stamford Planning Board voted unanimously Feb. 11 to approve a purchase-and-sale agreement for the property commonly known as the YMCA of Stamford at 10 Bell Street and to appropriate $5,300,000 in capital nonrecurring funds to complete the transaction and initial work.
City counsel and staff described the purchase price as $3,650,000 and said the city has made $55,000 in deposits. The property is one unit in a two-unit condominium association; the other unit is a hotel. The agreement remains contingent on standard conditions, including board approvals, a clean title from the YMCA and satisfactory title insurance or clearance of historic encumbrances and building permits before closing.
In reply to board questions, Matt Quinones of the mayor’s office said the administration examined three operating models during due diligence: a city-run facility managed by Parks and Recreation; a third-party operator (either via ownership or a lease); or sale of a portion of the building. Staff have run operating-cost models for all three scenarios but have not yet recommended a final governance approach.
Staff estimated the initial scope of repairs and upgrades needed to open the building would be in the neighborhood of $1.5 million (figure given by staff during the meeting). They cautioned the schedule is contingent on title work and permits; title clearing and insurer sign-off must occur before the city closes, and staff said closing could take longer than the contract’s 30-day target.
Vice Chair Jay Tepper and others pressed staff about whether a third-party operator could impose charges or other constraints on Stamford residents. Quinnones and counsel said the city would return to boards with a recommended operating structure and governance provisions before finalizing any long-term operator arrangements.
Chair Jennifer Gazzano put the motion to approve the purchase and the related appropriation to a show-of-hands vote; both motions passed unanimously.
Next steps: city staff will pursue title clearance and coordinate with the Board of Finance on capital funding details; staff said they expect to return to the boards with an operating recommendation and a construction schedule once title and operational analyses are complete.
