WICHITA — The Greater Wichita YMCA's plans for a new downtown facility took a significant step this morning when the City Council approved issuing $23 million in industrial revenue bonds for the project.
The move was expected after the council agreed in February that it intended to issue the bonds.
The Y plans to raise money through donations and memberships to pay off the bonds, and the city will own the land and buildings until the Y has paid the entire $23 million.
The new 110,000-square-foot facility, the Central Family YMCA, will be built adjacent to the current downtown Y at 402 N. Market. Demolition work began last month and the project is expected to be completed in 2012.
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The current downtown Y will remain open during construction.