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Berks County Board approves Redevelopment Authority financing for YMCA capital upgrades
Summary
The board approved a resolution allowing the Redevelopment Authority to finance about $2.75 million in capital improvements and equipment for five YMCA branches; county officials stressed the action is a federal tax-code precondition and not a county credit pledge.
The Berks County Board of Commissioners voted to approve a resolution authorizing the Redevelopment Authority of the County of Berks to finance capital improvements and equipment purchases for five YMCA branches in Berks County.
Peter Edelman, presenting on behalf of the YMCA of Reading and Berks County, said the financing being considered would be "approximately $2,750,000" and described the county's role as limited: the board's approval is a precondition under the Internal Revenue Code, not a pledge of the county's credit. "The county by agreeing to adopt this resolution is not pledging its full faith credit and tax in power or any credit with respect to the project," Edelman said.
Commissioner Leinbach framed the vote as a judgment about community benefit, saying the board's role "is to determine whether this has value and benefit to the community as a whole." A motion to adopt the resolution was made and seconded, and the chair conducted a voice vote; the motion was declared carried.
The presentation said the financing would pay for roof repairs at several branches, new HVAC systems and athletic equipment already observed at the Reading branch. Edelman said the YMCA expects the financing to reduce its interest costs on new equipment. The county record labels the agenda item as related to a redevelopment authority financing and notes the action was taken solely for tax-code compliance.
The resolution carries no county-backed debt authorization; staff characterized it as an administrative approval needed for the YMCA to proceed with redevelopment-authority-managed financing. The board moved on to other agenda items after the vote.
