Although the Wood River Community YMCA has acquired land for its proposed 84,000-square-foot recreation center, the organization still faces some hurdles before it can begin construction.
First and foremost, the YMCA must raise the better part of $10 million.
The projected cost for building the project and establishing an endowment fund is $16 million. The YMCA to date has raised approximately $6 million.
This week, the Pennsylvania-based Annenberg Foundation proposed to give the YMCA $1 million, after YMCA promoters raise another $4 million toward the project.
Additionally, once the YMCA's fund-raising campaign reaches $15.5 million, the Annenberg Foundation has agreed to donate the final $500,000 needed to ensure the project is constructed.
At the same time, the YMCA must gain city approval for its proposed planned-unit development on the city-owned Park and Ride lot. The application is currently under review by the Ketchum Planning and Zoning Commission, which will recommend to the City Council whether it should be approved.
The P&Z will next review the project on April 6. The final decision on the YMCA PUD application rests with the council.
Teresa Beahen, YMCA executive director, said the YMCA is planning to break ground on the project before the end of the year. However, the project start date is dependent upon meeting the fund-raising goal and gaining a building permit from the city.
