YMCA Closes $27 Million Bond Offering

Congratulations to Gordon Thomas Honeywell client YMCA of Pierce and Kitsap Counties on the successful closing of a $27 million bond offering issued by the Washington State Housing Finance Commission.  Proceeds from the offering will be used to construct a new YMCA at the Central Kitsap Community Campus in Silverdale.

The new YMCA facility is the first component of a planned 12-acre campus that will include recreational opportunities, performing arts venues and a new library as well as serving as a gathering place for the Central Kitsap community.  A groundbreaking ceremony was held on June 3.

GTH lawyers Jemima McCullum and Dale Carlisle represented YMCA in the offering.  McCullum also represented YMCA in the negotiation of a ground lease, facilities agreement and related development agreements with Kitsap County.