Topeka’s YMCA wants to buy building back from City of Topeka

The “Y” was built with an $8.8 million bond back in 2000
Published: Sep. 26, 2022 at 10:13 PM CDT
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TOPEKA, Kan. (WIBW) -The last standing Topeka YMCA building located at 3635 southwest Chelsea Drive, is in jeopardy.

CEO of YMCA Topeka, Glenn Haley says he hopes for the YMCA to stay at its current location, but it’s not up to him since the YMCA doesn’t own the building.

“The “Y” was built with an $8.8 million bond back in 2000, and operated through a lease that was issued this year early by the City of Topeka,” said Haley.

Haley said now the bond-holders have the right to sell the assets since the lease was terminated due to challenges making payments.

“When you lose memberships, this a membership business and a program business so about 60% of our funds are earned and our community support is 30% of those funds. However, we lost a lot of our members during Covid,” he said.

The YMCA is planning to buy the building from the city, but in order to do so, they will need to put up a pretty penny.

“Currently up to date, our goal is to raise around $700,000, we just slightly raised over $200,000. Our goal is to be in position to purchase this asset, but to also make improvements in the asset so we can bring this building that is only 22 years old back up to what it should be and could be in the community,” he said.

The city says it wants the taxpayers to know that the city has no financial risk in the matter. the ymca is hoping to acquire the funds for bond-holders by october 30th.