Camp Lyndon and YMCA West Barnstable sites are getting an upgrade. What you should know.
SANDWICH – MassDevelopment, the state’s development finance agency and land bank, said it has issued a $3.8 million tax-exempt bond to YMCA Cape Cod to pay for improvements at the nonprofit’s facilities.
A portion of the proceeds will go to upgrading the YMCA Cape Cod’s summer camp, Camp Lyndon in Sandwich, including updating the bathroom and underground utility work and purchasing a new generator and HVAC equipment. New equipment, such as air handlers, dehumidifiers, a fire pump, and pool filtration equipment, will also be bought and installed for its Lyndon P. Lorusso branch in West Barnstable.
Camp Lyndon, Lorusso branch to benefit
Cape Cod 5 purchased the bond, which will also be used to refinance previously issued debt, including an earlier tax-exempt bond from MassDevelopment.
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“YMCAs strengthen communities with health and wellness programs, child care, and quality jobs for area residents,” said Housing and Economic Development Secretary Mike Kennealy, who serves as chair of MassDevelopment’s Board of Directors, in a statement. “MassDevelopment has a proven track record of assisting YMCAs and other kinds of nonprofit organizations looking to improve facilities, buy equipment, and expand services.”
State funds supported Y's child care center
In November 2021, Mass Development provided a $350,000 loan to help YMCA Cape Cod construct a new early childhood care center in Hyannis, which allowed enrollment to expand by 65 additional students. In 2013, the agency issued a $3.3 million tax-exempt bond to help YMCA Cape Cod buy equipment for its facilities in Sandwich and West Barnstable and refinance previously issued debt.
Founded in 1966, the YMCA Cape Cod has spent more than 50 years serving community and social needs of various towns across Cape Cod, from delivering affordable early childhood education to offering teen leadership and career development opportunities to teaching more children than any other organization on the Cape how to swim.
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In a statement, YMCA Cape Cod President and CEO Stacie Peugh said this summer more than 800 children will visit Camp Lyndon, saying improvements to the 75-acre property will “help us continue to be a place that welcomes all.”
Updates to provide wellness programs
Meanwhile, updates to the Lyndon P. Lorusso YMCA facility will provide high-quality wellness programs for members, she said.
"At the Y, facilities are our platform for program and service delivery,” said Peugh. “We're grateful to MassDevelopment for their help in supporting our continued work of serving people across Cape Cod by improving our facilities through funding from our recent MassDevelopment loan."
This transaction marks the latest in a series of financial support MassDevelopment has recently provided to YMCAs across Massachusetts. In April 2022, the agency issued an $11.7 million tax-exempt bond to help West Suburban YMCA buy and renovate a second full-service branch in Newton; in February 2022, the agency issued a $6.5 million tax-exempt bond to help Berkshire Family YMCA renovate its Pittsfield facility and grow its child care program; and in May 2021, the agency issued a $10.5 million tax-exempt bond to help the YMCA of the North Shore renovate and expand 67 affordable studio apartments in downtown Beverly.
Zane Razzaq writes about housing and real estate. Reach her at zrazzaq@wickedlocal.com. Follow her on Twitter @zanerazz.
This article originally appeared on Cape Cod Times: Camp Lyndon, YMCA Cape Cod get MassDevelopment grant for upgrades
