September 30, 2019
$31,916,766
WHEFA Bond Financing Helps Marquardt Village, Inc. Expand and Refinance in Watertown
Bonds Placed with First Midwest Bank
“We are thankful for the partnership with WHEFA to provide savings through the issuance of tax-exempt bonds, which allows the opportunity for Marquardt to obtain the funds necessary to expand our programs and services and to restructure our existing debt. As with our previous financing efforts, I appreciate the expertise and support provided by the WHEFA staff.”
– Julie Marks, Chief Financial Officer
Marquardt Village, Inc.
The project will create approximately 3 permanent jobs with an annual payroll of $54,000. Approximately 63 construction jobs will be created as well. 80 total jobs will be retained with an annual payroll of over $2.84 million. Marquardt Village employs approximately 210 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA will be used to help Marquardt Village finance costs associated with the construction of a 24-unit independent living facility, as well as renovation, remodeling, improvements and equipping at the existing town centre, independent living facilities, community based residential facility and senior apartments. Proceeds of the bond financing were also used to refinance bonds previously issued by WHEFA in 2014. This tax-exempt financing process has enabled Marquardt Village to operate more effectively by financing and refinancing its capital expenses at a low interest rate (initially 3.08%).
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.
