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Plan to build new YMCA in Lockport advances

A plan to build a $17 million YMCA in the Town of Lockport took a step forward Wednesday with a Niagara County Industrial Development Agency vote.

The IDA gave final approval for tax-exempt bonding authority for the YMCA Buffalo Niagara, which will enable the organization to borrow much of the construction cost.

The bonds will be a debt of the YMCA, not the county or the IDA, but they will enable the YMCA to borrow money on terms attractive to the investors who buy the bonds, because the interest will be exempt from income taxes.

Buffalo Niagara YMCA exploring financing options for new Lockport facility

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