New YMCA in Park Falls Brings Hope with NMTC Support

In Q4 2024, the Flambeau River YMCA in Park Falls, Wisconsin, officially closed on $11 million in project financing—powered in part by $8 million in New Markets Tax Credit (NMTC) allocation. The financing marks a critical milestone in the effort to bring a brand-new, full-service YMCA to this rural community, offering access to childcare, wellness, and youth programs for over 2,700 residents.

The vision for the new YMCA is clear—create an inclusive, accessible space that supports children, families, seniors, and the broader Park Falls community. The facility will include:

• Early Childhood Education Center
• Youth Zone and “Child Watch” space for young children
• Scholarship Programs for afterschool / daycare and memberships
• Community and Intergenerational Rooms for classes, gatherings, and events
• Healthy Food Nutritional Program
• Gymnasium and Fitness Center with courts, wellness equipment, and flexible space
• Welcoming Lobby with café, counseling room, mindfulness space, and outreach hub

This project goes beyond traditional fitness offerings—it’s a response to real, documented community needs, particularly those that became more acute during the pandemic.

With the closing complete, construction is now underway on the 20,000-square-foot facility. Once complete, the Flambeau River YMCA will serve as a vibrant hub for community health, youth development, and intergenerational connection.

Park Falls experienced the loss of critical childcare services during COVID-19, which created ripple effects across the local workforce. Without reliable care, working parents were unable to maintain employment. The new YMCA will help close that gap, while also addressing other pressing needs like youth programming, senior support, and safe, accessible spaces for wellness.

The project was guided by Impact Marketplace, who helped structure the NMTC investment to align with the mission of the YMCA and the needs of the community.

“This isn’t just about a building—it’s about rebuilding connection, stability, and opportunity in Park Falls,” said Matt Drinen, Principal at Impact Marketplace.

The Flambeau River YMCA project is backed by strong partnerships with:

• Marshfield Clinic Health System (providing programs in cardiac rehab, diabetes prevention, and cancer recovery)

• Chequamegon School District (offering school-based childcare, meal programs, and swim lessons)

• City of Park Falls (supporting water safety, youth sports, and expanded recreation)

• Flambeau River Community Growing Center (partnering on gardening education and farm-to-table programming)

These programmatic partnerships will allow the new facility to serve as a hub for health, education, and social support.

The project is supported by a blend of federal grants, equity, and bridge financing—but the $8 million in NMTC allocation was key to bringing the capital stack together. The project’s census tract qualifies as Severely Distressed, with an AMI of just 62%, a poverty rate of 22.4%, and local unemployment far above the national average.

The successful closing of the Flambeau River YMCA was made possible by the collaboration of mission-aligned financing partners who brought both capital and commitment to the table.

• Cinnaire, a trusted Community Development Entity (CDE) with a focus in the State of Wisconsin, provided the critical $8 million NMTC allocation. Known for investing in projects that strengthen communities and promote equitable access to resources, Cinnaire’s support was instrumental in making the financing structure work for a rural project of this scale.

• Bremer Bank served as the NMTC investor, helping deliver equity into the project through the purchase of NMTC credits. Their investment allowed the YMCA to access flexible, below-market capital to bring the facility to life.

With the project closing in November 2024 with construction beginning in Q3 2024, the Flambeau River YMCA will open a new chapter for Park Falls—one rooted in health, equity, and resilience.

“This is what impact looks like: a place where kids are safe, seniors are active, and neighbors connect,” said Matt Drinen, Principal at Impact Marketplace. “We’re honored to be part of it.”