County approves clarifying amendments to YMCA lease and construction agreements; commissioners report fundraising progress
Loading...
Summary
The county approved first amendments to the 2022 YMCA construction and lease agreements to clarify ownership and public‑facility status for bond counsel; commissioners reported the YMCA has raised roughly $3.47 million toward its $5 million community campaign and expects to open in mid‑June.
The commissioners ratified amendments to the August 2, 2022 construction/operating agreement and lease with YMCA of the Chesapeake to clarify that the facility and land are public facilities for bond‑issuance purposes and to address bond counsel's concerns.
John Houser, deputy county attorney, told the board that bond counsel recommended clarifying language to avoid any question that bond proceeds would be used for a public facility operated by a nonprofit. The amendments are principally clarifying and include one substantive contingency about disposition if the YMCA were to cease operating the facility as a YMCA.
Commissioners also discussed the YMCA's fundraising and construction status. One commissioner reported the YMCA community campaign had raised $3,470,391 from 277 donors toward a $5,000,000 goal, said the project is about 92% of the fundraising goal and estimated the building at about 64,516 square feet with an overall project cost projected around $22.1 million. The commissioner said memberships and personal contributions will be available beginning April 1 and the opening is expected in mid‑June.
Why it matters: the amendments are intended to protect the county's bond sale and clarify the public‑use character of a county-supported recreational facility operated by a nonprofit partner. The fundraising and construction status are relevant to local constituents who will use the facility.
