JEDA Bonds Finance Improvements, Expansion at Anderson Area YMCA
Anderson, SC — Anderson County
The Anderson Area YMCA is using $7 million in bond funding from the South Carolina Jobs-Economic Development Authority (JEDA) to refinance the JEDA bonds used for original construction and pay for new growth.
The Series 2016 bonds will be used to retire 1999 bond issues that originally financed the Anderson AREA YMCA including a lap pool, locker rooms, gym, indoor track, wellness center, community meeting room and nursery care room at the facility at 201 East Reed Road in Anderson.
The bonds also are financing an 11,800-square-foot expansion to the family wellness center that includes cardiovascular equipment, crossfit and yoga facilities, and front desk improvements. The Anderson Area YMCA currently employs 204 people and expects to create five more jobs as a result of this project.
— Joe Drennon, CEO of the Anderson Area YMCA
“The Anderson Area YMCA exists to help build strong kids, families and communities, and helping their leadership through this complex funding process has been a pleasure and privilege,” said Tyler Smith, Bond Counsel at Parker Poe Adams & Bernstein LLP in Greenville.
“Tax-exempt bonds are a great way for community-minded organizations like the YMCA to meet the needs of fast-growing areas like Anderson County. We helped the Anderson Area YMCA nearly 20 years ago and it’s exciting to do it again,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.