Ottawa YMCA will borrow a nearly $14 million low-interest loan from USDA to build riverfront facility

The Ottawa YMCA plans to break ground in mid-October on its new riverfront facility, after announcing it will receive a $13.997 million loan from the U.S. Department of Agriculture.

The YMCA made the official announcement Monday.

Executive Director Joe Capece said the mid-October groundbreaking will be the beginning of a 17-month construction period, with a scheduled opening in early 2024.

The loan will be paid back with a 2.1% interest rate.

Betsy Dirksen Londrigan, the USDA’s state director for rural development in Illinois, said the agency’s goals range from aiding with fundamental needs, such as water and electricity to broadband internet, to larger projects essential to the community.

“A YMCA like this, it being a community hub, makes it an essential facility,” Dirksen Londrigan said.

Capece said the riverfront YMCA is the first step in the city’s riverfront project, which features another portion with the city’s plans to build an amphitheater. The city received a $3 million state grant and could finish as soon as December 2024 on that project.

YMCA board member Phil Devermann said the new YMCA will be the western anchor for development in Ottawa’s downtown.

The new YMCA along the Illinois River will be a 66,000 square foot, handicapped-accessible facility that will include a natatorium with a competition pool and a warm-water therapy pool, group exercise studios, children’s adventure center, colorful child watch areas, family locker rooms and multi-generational spaces for seniors and teens. It also will have a community “living room” concept for socialization and a health and wellness center for exercise, prevention, treatment, rehabilitation and long-term healthy living options.

“You know, this is what we do,” Dirksen Londrigan said. “What Rural Development does, this is very fitting of our mission to take tax dollars and but them back into the community.”

The total cost of the project will be $26 million, with the USDA loan making up the bulk of the funding. The rest of the funding comes from community partners such as OSF, the city of Ottawa, a nearly $2 million state grant and pledges from residents.

Capece said the capital campaign is sitting at $5.9 million in donations from the community and while its original goal was $6 million, that goal was increased to $6.5 million due to higher costs. The loan from the USDA had to be increased as well from its original amount because of the rising material and construction costs.

Board Member Konni Rodeghier said the partnership with the USDA is vital to beginning construction in October.

“It’s been vital to the need and the fundraising ability and the different things that are going into that cost,” Rodeghier said. “You look at this as half the cost at this unbelievable interest rate at a long term. We wouldn’t be here without this program.”

Capece said Mike Wallace and Julie Hatfield, program directors with the Rural Development state office, have been essential in the process of obtaining the loan.

“As I look at the enormous concrete footprint taking shape, I thought about all of the people of every age who will benefit from this undertaking,” Capece said. “I also picture the team of folks who helped make this dream a reality and look forward to the ribbon cutting.”

More information on the Capital Campaign can be found at ottawaymca.org/support-the-y/ymca-capital-campaign. There also is a video on the website reviewing the project.