JEDA Bond Funding Helps Spartanburg Get a New YMCA

SPARTANBURG, SC – April 12, 2011 – Bond financing facilitated by the South Carolina Jobs-Economic Development Authority (JEDA) is helping the YMCA of Greater Spartanburg build a new home on its current Pine Street property.   The $10 million in tax-free economic development revenue bonds will be used to help pay for the demolition of the existing building on the 10-acre site and replacing it with a new facility designed to better serve the wellness needs of the Spartanburg community.

The bonds also will be used to refinance a portion of the 1996 bond funding which was used to build the Spartanburg YMCA Family Center. The new issue will create temporary construction jobs as well as maintain existing permanent employment for approximately 200 people and provide additional seasonal jobs for 60 to 80 people.

 “Our new facility will most certainly allow the YMCA to better fulfill its mission,” said Howard Henderson, Board Chairman, YMCA of Greater Spartanburg.  “Community members and others have put much time, money, and effort into making this happen. Our thanks to everyone who has been involved with bringing the vision to reality.”

“This new facility will help the Spartanburg YMCA continue its long tradition of service and meeting physical, spiritual and family needs in our community. We broke ground in October 2010 for our new home and we couldn’t be more excited,” said Rick Callebs, CEO of the YMCA of Greater Spartanburg.

“This is a major moment in the 150-year history of the YMCA in Spartanburg and JEDA funding is a major reason it’s happening. We’re pleased to have some role in this process,” said Kathy McKinney, Bond Counsel with Haynsworth Sinkler Boyd in Greenville.

“The mission of the YMCA is to be an inclusive organization for men, women and children who are joined by a shared commitment to promoting healthy living and fostering a sense of social responsibility,” said Harry Huntley, Executive Director of JEDA in Columbia.  “JEDA is pleased to assist such a worthwhile organization, and specifically to help the YMCA of Greater Spartanburg create this new state-of-the-art facility to better serve the citizens of Spartanburg now and in the future.”