Doctor to buy former Tecumseh YMCA

Dr. Devatha said he plans to renovate the facility and open another fitness and sports center.

“I’ve been a member of the community for the last 10 years; it has been like a death in the family since we lost the Y,” he said. “We didn’t want to lose it to anyone else who would turn it into something that would not benefit the community.”

Kimberly Jones, New Carlisle city manager, said that the city had been concerned about who would purchase the building, and what it would be used for.

“We’re very happy that it’s going to return to its original use and it’s a huge benefit to the community,” Jones said. “We know the community will support this.”

While the city celebrates the transaction, the sale price is a paltry sum compared to the debt owed to PNC Bank. The money from the auction will be applied to more than $1 million debt accrued when the YMCA built a $1.2 million aquatic center in 2009.

The Turner Foundation agreed to help the former Y with the loan when the organization fell into receivership, and is now held responsible for paying off the debt.

There is no set schedule for when the Y will reopen as a fitness center, but Dr. Devatha said renovations will begin soon.

“The community spent a lot of time and resources on this prior to (the Y) going under,” he said.