February 1, 2019
WHEFA Bond Financing Helps Black River Memorial Hospital, Inc. Construct, Renovate and Refinance in Black River Falls
Bonds Placed with Associated Investments Inc.
“We are fortunate to have a partner like WHEFA to provide us a path for issuing tax-exempt financing that helps keep the cost of financing lower for charitable organizations like BRMH. Keeping financing costs lower results in keeping the cost of healthcare lower in our community, a benefit for all.”
– Matthew J. Streeter, Chief Financial Officer,
Black River Memorial Hospital
Bond financing facilitated by WHEFA will be used to help Black River Memorial Hospital, Inc. (the “Hospital”) finance costs associated with the construction and renovation at the Hospital including an urgent care and specialty clinic, an addition to rehabilitation, surgical and physician facilities, the remodeling and renovation of several Hospital departments, as well as additional renovations and improvements. Bond proceeds were also used to refinance certain outstanding debt previously issued in 2005. This federally tax-exempt financing process has enabled the Hospital to operate more effectively by financing and refinancing its capital expenses at a low interest rate (initially 3.38%).
WHEFA is proud to continue its mission of assisting all eligible Wisconsin non-profit institutions to obtain and maintain access to tax-exempt financing in order to finance or refinance their capital improvement and expansion needs.