May 16, 2007 12:36 PM
Idaho Y Buys For-Profit Fitness Center
TWIN FALLS, ID – In a deal announced Monday, the YMCA of Twin Falls (ID) will purchase Twin Falls Fitness Center under the condition that the Y continues to operate it as a fitness center, The Times-News reported.
Although terms were not fully disclosed, the deal specifies that the Y will buy the center’s building and property for roughly half of its appraised value. Twin Falls Fitness Center owners, Craig and Connie Rencher, will donate the rest of the property’s assessed value to the Y as a gift. The owners had been approached by various potential buyers in the past but wanted the building to continue as a fitness center. The fitness center will be operated as Canyon Rim YMCA, according to the newspaper.
An independent evaluation of the Y completed before the purchase identified the need for more and better fitness programs, the newspaper reported. The deal could help the YMCA delay a capital campaign for a new facility for at least three years.
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