Contact Us   |   Login   |   July 02, 2008

Case Study - Greenwich Family YMCA

Greenwich Family YMCA

The Greenwich Family YMCA has served the Greenwich community for over 87 years, and currently serves over 6,000 members through its programs. Some of the programs are listed below.

Child Care – The GWYMCA is the largest provider of licensed child care in the Town of Greenwich, serving more than 200 children every day at five locations.

Sports, Recreation and Aquatics – The GWYMCA provides sports and recreation activities to more than 3,000 children each year. In addition, 1,800 children benefited from a progressive program of swim instruction or participated on a competitive swim team.

Summer Day Camp – GWYMCA day camp programs involve 700 children each summer.

Health and Fitness Programs – The GWYMCA offers a wide range of health and fitness programs, including a Wellness Center, group fitness classes and special programs for senior citizens.

Youth Development – Programs include Leaders Club, Adventure Guides, and Youth in Government.

Project:  Bond proceed financed the construction of an Olympic-sized pool, a child care center and parking garage, and miscellaneous construction and renovation projects.

Structure:  $20,165,000 Issue, Series A sold as a variable rate transaction set in a weekly mode.

Closing Date:  August 4, 2005.

Results:  The initial rate set on the weekly bonds was 2.12%.

Financing Team:  The Bank of New York; Carmody & Torrance LLP; Cuddy & Feder & Worby LLP; Gates Capital Corporation; Hawkins, Delafield & Wood LLP; Lamont Financial Services; U.S. Bank, N.A.; Whitman Breed Abbott & Morgan.