The YMCA Guy Favreau will survive for at least another year.

On Friday, the YMCAs of Quebec President and CEO Stephane Vaillancourt confirmed a deal that will keep the health club’s doors open.

The agency will pay rent of $1 for the next year, and work on a permanent solution.

Phil Chu, who started one of two petitions to save the YMCA, said he was thrilled with the news.

“It gives us more time to find a solution with the government,” he said.

With more than 3,000 people signing the petitions, Chu said the YMCA is deserving of people's support.

"When I was going through personal difficulties financially, the Y allowed me to join the volunteer program and still be part of the community. Even when Igot back on my feet I decided to still be part of the community," said Chu.

The Y’s future was put in doubt after its rent, which was a symbolic $1 from the time it opened in the 1980s until 2007, skyrocketed to $240,000-per-year.

"We've actually been losing money for the last there years, and rent is the major component of that deficit," said Vaillancourt.