YMCAs are fixtures in the communities they serve. They offer affordable fitness options and a multitude of afterschool and public programs which are much needed in rural Appalachian areas. Fahe is proud to be partnering with the Pikeville Area YMCA in Eastern Kentucky to increase their ability to better serve their community. Fahe’s Community Lending division is providing permanent finance up to $3 Million for the addition of a 16,000 square foot, two-level structure which will allow the YMCA to expand and revamp the services they offer.
One of the most anticipated elements of the expansion is the construction of a new competition length swimming pool. In 2017, the City of Pikeville elected to close their aging public pool, leaving the community without a water sport and exercise venue. The YMCA expansion will include a 2,500 square foot indoor lap pool that will be funded by a $1.5 Million grant from the City of Pikeville. The pool will be used for water wellness programs, and as a training venue for swim teams from local high schools and the University of Pikeville. The pool will also be open to the public on a fee basis.
The YMCA expansion will also benefit several youth development programs for the community including the Early Childhood Education Center, After School Program, and the Youth Corner and Child Watch. The latter also serves as a central kitchen for community outreach meals for children ages 1- 18 during the summer. With support from state, government, and foster subsidies, from 2015-2017 the YMCA served 12,593 meals and 5,096 snacks to children in the summer.
Along with the community benefits, the addition will help to create 17 new jobs and retain 8 current jobs.
Fahe’s loan to the Pikeville Area YMCA is made possible by the USDA Community Facilities Relending Program, a public/private partnership between USDA, private foundations, and banks that brings much-needed capital to persistently low-wealth areas. Thanks to this partnership, Fahe is able to help make new community facilities like the YMCA expansion a reality.