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TD Bank Provides $18MM Tax-Exempt Loan to Support YMCA of Delaware

October 21, 2022, 06:00 AM
Filed Under: Specialty Industries
Related: TD Bank

TD Bank provided an $18 million, tax-exempt loan to YMCA of Delaware for the construction of a new facility in Middletown. The loan was completed by Matthew Barnes, TD Bank Relationship Manager, and Lisa Kirkwood, Regional Vice President of Delaware, TD Bank.

The loan supports the construction of a new, 55,000-square-foot facility located at 202 E. Cochran St. It is anticipated to be complete in the fall of 2023.The new facility will have an indoor aquatics center, expanded health and wellness facilities, a child watch center, youth STEM Room, and Kids Adventure Zone, among other amenities.

The YMCA's temporary location in Middletown, which has been operating since 2017, currently serves about 1,000 residents. Total project costs are anticipated to be $26 million, to be funded through the YMCA of Delaware capital campaign and TD Bank loan proceeds.  

“Middletown needs and deserves this new YMCA. We are grateful for TD Bank's partnership, which makes this state-of-the-art YMCA facility in the heart of the MOT (Middletown, Odessa and Townsend) Region possible and will positively impact tens of thousands of community members,” said Linda Risk, YMCA of Delaware Chief Operating Officer.

Founded in 1891, the YMCA of Delaware serves approximately 90,000 members through its seven branches statewide, a youth resource center in downtown Wilmington, and an overnight camp and conference center in Worton, Maryland.

"The YMCA is an essential organization in many communities and its new facilities will greatly benefit the rapidly expanding population of Middletown," Kirkwood said. "TD is pleased to support the YMCA as they grow and serve the city."

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