February 3, 2017
WHEFA Bond Financing Helps Southwest Health Center Construct, Renovate, and Refinance in Mineral Point and Platteville
“Accessing tax-exempt financing through WHEFA was critically important in order to drive down the cost of capital around these very important projects. Tax-exempt financing allows us to do projects and expand healthcare services in our communities that would not otherwise be possible. It was a pleasure partnering with the staff at WHEFA to bring these projects to fruition.”
— Dan Rohrbach, President & CEO
Southwest Health Center, Inc.
Bond financing facilitated by WHEFA will be used to help Southwest Health Center finance the costs associated with the construction and equipping of a one-story eye clinic in Mineral Point, Wisconsin, remodeling and expansion of two additional operating rooms at the hospital in Platteville, Wisconsin, and other renovations, equipment acquisitions and general capital expenditures at Southwest Health Center’s existing facilities. Proceeds of the bond financing were also used to refinance bonds previously issued by WHEFA in 2013. The net present value savings following the refinancing was over $1.1 million. This federally tax-exempt financing process has enabled Southwest Health Center to operate more effectively by financing and refinancing its capital expenses at a lower interest rate (2.89%).
WHEFA is proud to have been able to assist Southwest Health Center by reducing their overall debt service and allowing them to grow and compete by providing access to low-cost private capital.