News Tyrone Daily Herald Archives

Local business to purchase former Tyrone YMCA

It was announced this week that a local Tyrone business will be purchasing the former Tyrone YMCA on Logan Avenue.
At Monday evening’s Tyrone Borough Council meeting, Council approved a waiver for G&R Excavating and Demolition of Tyrone to correct the outstanding code violations. During this period, G&R will decide what the best use of the building will be.
Council approved a 90 day period before issuing any new notices concerning the various code violations that need to be corrected.
When the flood in September of 2004 destroyed the weight room and gym, the YMCA was forced to eliminate those programs when they lost the locations to keep the programs functioning. According to the Board, without the revenue from those programs, the YMCA was unable to continue operations.
In November of 2004, the Board of Directors voted to terminate all activities and the YMCA closed on December 30, 2004.
When the YMCA ceased operations, the YMCA Board put the building up for sale. They were unable to find a buyer, even at a reduced price. The YMCA looked into filing for bankruptcy at that point.
When the Board discovered they were unable to do so, they contacted Attorney Dave Consiglio, who specialized in Real Estate Law. Consiglio told the Board that they should contact the bank and ask them to forgive the $48,000 on a loan they still owed the bank. This loan was from a January 2003 loan of $137,000 the YMCA received from Reliance Bank to cover taxes, boiler repairs, and various other bills. Reliance Bank agreed to forgive their loan.