City Forgives Loan Made To Local YWCA
Columbus City Council last night voted to forgive 2.5 million dollars in municipal loans made to the YWCA in 1994 to renovate the Griswold Building on South Fourth Street to serve in part as a shelter for low-income and homeless women. The building is also the organization's headquarters. The city had issued loans of 1.66 million dollars, with the rest owed because of a varying interest rate. The 20-year term on the loans expired earlier this year. Organization spokesperson Ryan Cassell cites a growing need for services as one reason why it was unable to repay the loan.
Cassell also cites the way the loans were structured.
Columbus Development Director Steve Schoeny says the YWCA is seeking public and private funding to expand the number of beds in the building, which is why the Coleman administration introduced the legislation.
The YWCA has provided affordable housing at the Griswold Building since 1929.