June 9, 2016
WHEFA Bond Financing Helps St. Norbert College, Inc. Expand and Renovate in De Pere
“This facility will fulfill needs of the college’s students, especially student athletes, employees and the local community. The ability to finance this project on a tax exempt basis will lower annual costs and ultimately assist in addressing the affordability of a college education. We appreciate the professional assistance provided by Dennis, Tatiana and the entire WHEFA staff in making this a successful financing process.
– Eileen Jahnke,
CFO and VP for Business and Finance
St. Norbert College
Bond financing facilitated by WHEFA was used to help St. Norbert College finance the expansion of its current athletic facility from 53,000 square feet to approximately 130,000 square feet. The expanded and renovated athletic facility, to be named the Mulva Family Fitness and Sports Center, will house an upgraded fitness center and gymnasium, offices for athletics staff, and a competition-grade swimming pool and diving area. All of the College’s health and wellness-related activities, including counseling, will be incorporated into the new center. This federally tax exempt financing process has enabled the borrower to operate more effectively by refinancing its capital expenses at a lower interest rate (initially 1.35%).
WHEFA is proud to have been able to assist St. Norbert College by reducing their overall debt service and allowing them to grow and compete by providing access to low cost private capital.