You’ve probably heard the news about the bankruptcy filing of the YMCA of Metropolitan Milwaukee today.
So, what does that mean for the South Shore Y? To be determined.
From the Milwaukee Journal Sentinel …
Under the restructuring plan announced Wednesday, the Y will deliver services through centers that are primarily leased, restricted or gifted and establish “a truly urban mission.”
The centers that will remain include:
- Rite-Hite Family YMCA, which offers a wellness and prevention partnership and includes the Schroeder Aquatic Center
- Northside YMCA, in the Lindsay Heights neighborhood
- Parklawn YMCA
- Downtown YMCA, in the Shoppes of Grand Avenue
- John C. Cudahy YMCA, which houses adaptive baseball programs
- Camp Minikani, on the shores of Amy Belle Lake in Hubertus
The other properties will be sold to “operators better positioned to continue these Ys and invest in these centers for the long term,” the release said.
Those other properties include:
- The YMCA of Metropolitan Milwaukee has a letter of intent from the YMCA of Central Waukesha County to purchase the West Suburban YMCA, Tri-County YMCA and Southwest YMCA. A majority of the proceeds from this transaction will be used for debt reduction, officials said. Pending the sale, which requires court approval, operations, membership benefits, programs and services at these facilities will continue as normal.
- The YMCA of Metropolitan Milwaukee also has a letter of intent from the Kettle Moraine YMCA to purchase Feith Family Ozaukee YMCA. A majority of the proceeds from this transaction will also be used for debt reduction. Pending the sale, which requires court approval, operations, membership benefits, programs and services at this facility will continue as normal, officials said.
Here is the Y announcement. It says the Y is “seeking long-term strategic partners for both the South Shore YMCA and Camp Matawa that are better suited to maximize the potential of those operations.”
I’ll keep you posted as to what that means.
South Milwaukee Blog 