The YMCA of Greater Pittsburgh has reached a proposed settlement with its landlord at the Downtown Y over a lease that resulted in the YMCA filing for bankruptcy protection last month, the Pittsburgh Post-Gazette reported. The proposal calls for the YMCA to pay the landlord, Millcraft Industries, more than $2.75 million over the next four years while both seek a new fitness center operator for the facility on Fifth Avenue, according to documents filed in U.S Bankruptcy Court. A hearing is scheduled today in federal bankruptcy court in Erie, Pa., during which the YMCA will seek approval of the plan. The YMCA of Greater Pittsburgh filed for chapter 11 protection on May 8, citing the lease at its Downtown Y as a primary issue why the nonprofit is struggling with an annual deficit of $1 million.
