JEDA Bond Funding Helps YMCA of Sumter Refinance, Expand
SUMTER, SC – Bond financing facilitated by the South Carolina Jobs-Economic Development Authority (JEDA) is helping the YMCA of Sumter mark the 100th anniversary of being in its own home.
The $1.35 million in tax-free economic development revenue bonds will help to refinance prior loans on new property and facilities on Patriot Parkway and the existing Sumter Family YMCA on Miller Road, and to pay for construction and building improvements to accommodate expanded wellness and recreational programs that serve individuals and families in an expanded area of Sumter County.
After meeting in downtown space for 20 years, the YMCA of Sumter built its own facility at Sumter and Liberty streets in 1911 before moving to its current location in 1965. The JEDA-backed financing will help maintain 111 existing jobs and create 50 more in the next two years as services are expanded to the new Patriot Parkway site. New positions will include management, administration and maintenance staff as well as fitness instructors and childcare counselors.
“At a time when the need for our services has perhaps never been greater, being able to refinance our existing debt load with such favorable terms is a real benefit. It will help us do even more for this wonderful community that we call home,” said Kimberly Cousineau, CEO of the YMCA of Sumter.
“We’re excited for the YMCA of Sumter. They’re such an important contributor to quality of life in Sumter County and it’s great to be able to help them meet their mission,” said Kathy McKinney, Bond Counsel with Haynsworth Sinkler Boyd in Greenville.
“The YMCA of Sumter, like other facilities of its kind throughout the country, plays a vital role for residents of Sumter County, and is a vibrant contributor to its citizens. JEDA is proud of its role in assisting the continued growth of this YMCA as it moves into its second century of service to its community,” said Harry Huntley, Executive Director of JEDA in Columbia.