YMCA board members rejected an entrepreneur’s offer to buy their shuttered McHenry Avenue building and reopen it with similar programs, he said this afternoon.
Youra Tarverdi blamed media reports for souring the deal. He approached The Bee before presenting board members with his proposal, both sides said.
“I come from a naive perspective,” Tarverdi said today, acknowledging having signed a confidentiality agreement with the YMCA.
The YMCA operated 91 years in Modesto before $2.18 million debt forced its closure Feb. 28. Board members since have dropped the asking price for their 47,000-square-foot facility, including a gymnasium and two swimming pools, from $3.595 million to $2.95 million.
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The YMCA’s commercial broker, Brian Velthoen, continues to negotiate with other prospective buyers, he said this morning. The lower price reflects potential buyers’ extreme difficulty securing commercial loans in trying economic times, he said.