Y receives preliminary loan approval

The Foothills YMCA has received preliminary government approval for a long-term loan to build a recreation and aquatic center on the grounds of Oconee Memorial Hospital.  According to Christle Ross, the CEO of the YMCA, the USDA asked for additional information which the Y has submitted and now awaits further word.  The anticipation is that when the Y gets final approval for the $7.5 million loan, the organization will proceed with a community fundraising campaign for funds to help pay back the loan.  The payback period would cover $7.5 million.  Last week the Oconee Medical Campus of GHS announced approval of the transfer of 14.5 acres to the Y.  Once the loan is approved, the Y will turn to contractors with the hope that construction starts the first of next year.