December 22, 2016
WHEFA Bond Financing Helps Madison Country Day School, Inc. Expand and Refinance in Waunakee
“The expansion of Madison Country Day School using tax-exempt financing will benefit our current student population of 440 students in addition to future generations of learners, all of whom we are preparing to become thoughtful contributors to our state’s social, political, economic, and academic leadership.”
– Benjamin Hebebrand, Head of School
Madison Country Day School, Inc.
Bond financing facilitated by WHEFA was used to help Madison Country Day School refinance an interim taxable loan used for the construction and equipping of a 21,000 square foot, three-story academic addition to house middle and high school classrooms, a music wing, and areas for science, technology, math and the humanities. Bond proceeds were also used to refinance certain outstanding indebtedness. The net present value savings following the refinancing was over $98,000. This federally tax-exempt financing process has enabled the borrower to operate more effectively by financing and refinancing its capital expenses at lower interest rates (initially 3.30-3.35%).
WHEFA is proud to have been able to assist Madison Country Day School by reducing their overall debt service and allowing them to grow and compete by providing access to low cost private capital.