State board approves $1 million for Wellmark YMCA pool
BPC Staff Jun 8, 2016 | 9:21 pm
<1 min read time
0 wordsAll Latest News, Real Estate and DevelopmentThe Vision Iowa board approved a long-sought $1 million state contribution toward the construction of an estimated $9 million swimming pool for the Wellmark YMCA at Fifth and Grand avenues in downtown Des Moines. The award requires that ongoing fundraising efforts for the pool be completed within 30 days, according to a release from the Iowa Economic Development Authority. The state award was delayed after efforts to obtain federal tax credits for the project failed. In recent weeks, Hubbell Realty Co. and Knapp Properties Inc. have acquired properties owned by the YMCA of Greater Des Moines, including a parcel on the north side of the proposed pool, in an effort to bolster those fundraising efforts. Businessman Jim Cownie is leading efforts to raise additional funds. Delays in obtaining financing for the pool were responsible in large part for the resignation of former CEO Vernon Delpesce. Businessman David Schwartz was recently hired as CEO.