To be prepared for the possibility of receiving the interest-free project loan through the Rural Economic Development Loan and Grant Program (REDLG), the Vandalia Recreation Corporation reviewed updated construction costs, plus other necessary costs for the Eastern Missouri Family YMCA Project at a July 18 meeting.
Through the generosity of the community and grants, the YMCA Project has raised $1,658,000. This amount is a remarkable amount to be collected in a small, rural area. But, more is needed to actually open the doors for the area to start using the facility.
The current available balance will build a basic YMCA building, but it will not cover the expenses to furnish the facility with exercise equipment, office supplies, and other necessary supplies. In addition, YMCA’s are re-quired to have a year’s worth of operating costs before opening the facility. Operating costs account for staff wages and benefits, plus utility costs to run the facility. Having a secure operating balance ensures the YMCA will be successful and capable of paying expenses. Securing proper operating costs before opening a facility is good business practice, plus it is simply the right thing to do. Below is a summary of the estimated project costs. In order to open the facility, an additional $264,500 needs to be raised.
• Building Construction Estimate/Bid-$1,496,700
• Architectural and Engineering Expenses for Construction Plan Development and Construction Inspection-$127,700
• Facility Equipment (Fitness, Office, Kitchen, etc.)-$92,500
• Operating Expenses for 1-year (Staff wages and benefits, Utilities, etc.)-$205,600
• Total Required to Open the YMCA-$1,922,500
• Funds Raised- $1,658,000
• Additional Funds Required- $264,500
The area should be extremely proud of the efforts to bring this project to its current state. Once notification is received regarding the second phase of the REDLG loan, construction will begin on the building. The YMCA committees are hopeful that notification will be received in time to begin construction this fall. The construction of the building will take approximately nine months. While construction is occurring, efforts will continue to raise the necessary funds for equipment and operating expenses. A building will be built with the current funds, but the area needs to continue to step forward with donations to open the doors to enjoy the facility. This is a community-changing project that will offer enjoyment to individuals and families of all ages. The construction of a YMCA for the area is an investment for the community. The new YMCA will create jobs, bring revenue to the area, and attract new residents. Please help by making a donation to this project. To access a pledge form, visit www.emoymca.org or Facebook by searching “YMCA Project Vandalia.”