Officials hail YWCA’s plan
The local capital campaign goal is $3.2 million.
YOUNGSTOWN — The planned $8.6 million renovation and expansion of the historic Youngstown YWCA building on Rayen Avenue is seen by YWCA officials as a key part of the city’s downtown renaissance.
The YWCA, located at 25 West Rayen, is physically at the intersection of the city’s revival and the continued growth of Youngstown State University, said Ohio Seventh District Court of Appeals Judge Cheryl L. Waite, president of the YWCA board of directors.
The important thing is the historic building, which is structurally sound, will be saved instead of razed as other historic buildings in the city were, said Paul Ricciuti, architect for the project.
While no major overall historical restoration is planned, the main lobby, facing Rayen, will be restored to its former elegance and the two-story gymnasium with a running track around the top will be restored and preserved, Ricciuti said.
The announcement Wednesday of the ambitious project, many years in the planning, included the kickoff of a $3.2 million local capital campaign and a plea from YWCA Executive Director Constance M. Shaffer for the community to continue to step up and help make the project a reality.
Construction is slated to begin sometime late this year and the work completed in 18 months.
The local commitment is critical to secure more than $6.3 million in low-income tax credits and various grants, said Shaffer, executive director since 1993.
She said $3,588,400 in federal low-income housing tax credits and $952,426 in federal historic tax credits have been secured for the project; and applications have been made for Ohio historical tax credits, and for an Clean Ohio grant through the City of Youngstown. The tax credits reduce the amount of tax owed.
The development of 30 apartments for low-income women is at the heart of the low-income housing tax credits that will finance more than half of the project.
Under the program, the tax credits are auctioned to silent investors whose bids provide the up-front money for the project.
The investors receive a $1 tax credit, which they can draw down over 15 years, for each $1 invested. Among the criteria for receiving the tax credits is the housing must be affordable for low-income people.
“When we started on this dream, the board looked at this building and did a study to determine if the it was worth saving or to build something new,” Shaffer said.
The board said the YWCA has been committed to this location since 1909. “We said we’d be bold and dream and not leave another empty building,” Shaffer said.
“We’re centrally located for the women we serve and it fits our mission. We want to continue to serve,” she said.
Shaffer said the project will have a positive economic impact on the area, with all of the lowest and best bids coming from local contractors. It is also about enhancing the quality of life for the downtown area.
“It’s one more piece in the redevelopment of downtown Youngstown, by bringing more good housing into the area. It’s a good time for Youngstown. It’s starting to come back,” Ricciuti said.
Judge Waite said she has been on the YWCA board for many years and was involved in the discussions about whether or not to stay in downtown Youngstown.
“There is a real sentiment toward this building. We made the commitment to the renovation and make this building proud. The time is now for this project,” she said.