Aldermen approve $5.9 million TIF dollars for new YMCA

Originally posted on July 18th, 2018
Fox Illinois
by Em Nguyen

 

Tuesday, Springfield aldermen unanimously approved millions of dollars to pour into redevelopments for the new YMCA.

Springfield aldermen said this multi-million-dollar project will reenergize the town.

The $5.9 million TIF dollars is one of the largest TIFs approved in Springfield’s history. It will be split between two TIF districts: Enos and Downtown. Later, if the Enos TIF district expires, Downtown will take over for the TIF funding.

YMCA is moving from 4th and Cook St., near the governor’s mansion, to 4th and Carpenter St., about eight blocks away.

They said this new building will create jobs and help increase the opportunity to reach out to the youth community.

Some aldermen said this will be a goldmine to the new area. The YMCA CEO said she’s thrilled the ordinance passed unanimously.

“Very excited,” YMCO CEO Angie Sowle, said. “I’m very excited about having a new building which will help increase the impact that we have on the community just due to it being a friendlier, easier to access, building and I’m very excited about where we are going to be.”

The $5.9 million in TIF dollars will not be provided until YMCA can lock in the rest of their funding through tax credits and other donations, including Memorial Hospital.

The project will cost over $35 million in total.

The mayor said there will be a groundbreaking this fall, followed by the start of construction. They’re hoping to finish the project by 2020.

The current YMCA in downtown is over 50 years old.