Cortland County Family YMCA Agrees to Purchase Adjoining Property

20160722_100949The Cortland County Family YMCA (the Y) has entered into an agreement with neighboring owner Paul Lorenzo to purchase his property at 30 Tompkins Street, which is bordered on the east by the YMCA and on the west by Thoma Development Consultants.

The Y was made aware of the availability of the adjoining lot some time ago and, having committed to remaining in our current downtown location, began investigating the possibilities for purchasing and utilizing the property in both the short and long-term. Once the transfer is complete there will be options for additional parking space, additional office space, and possibly additional program space. Upon completion of the purchase, parking in the current Y lot will open up as Y employees begin parking at the new location.

“This is a strategic and forward-looking move for our Y” said Dave Hamilton, Cortland YMCA Executive Director. “Ideally, we would have completed a sale of the Homer Avenue property before entering into another purchase; however, time was of the essence in the availability of the Lorenzo property. Fortunately, 30 Tompkins Street represents the best opportunity for addressing the space issues in the Y’s downtown building. The purchase was approved by the Board of Directors and the Board of Trustees, which reallocated endowment funds they had previously committed to the new YMCA project.”

Mr. Hamilton added, “These additional facilities come at a perfect time as our membership and program participation continues to expand. Our member numbers have significantly increased, and I expect they will continue to grow as word gets out about the excellence of our new swim lesson programs and the excitement of new group exercise classes like Boot Camp and ‘Cize. I’m also hoping that we will be able to create some appropriate spaces for our tweens and teens.”

The Y plans to close on the property by the end of July and immediately benefit from additional parking and storage. Appropriate and conforming uses of the property are being investigated and detailed plans are not yet available.

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