September 27, 2019
$11,760,000
WHEFA Bond Financing Helps Milwaukee Catholic Home, Inc. Renovate and Refinance in Milwaukee
Bonds Placed with Town Bank
“Milwaukee Catholic Home continues to be a premier continuing care retirement community on Milwaukee’s Eastside through prudent use of capital to upgrade its aging facilities. Access to tax-exempt financing is an important financing tool, and this financing has enabled us to improve our facilities with the goal of enhancing our family and resident experiences for many years to come.”
– David Fulcher, Chief Executive Officer
Milwaukee Catholic Home, Inc.
Milwaukee Catholic Home employs approximately 240 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA will be used to help Milwaukee Catholic Home finance costs associated with renovations and improvements to its skilled nursing facility to modify room configurations and enhance common areas, construct and equip a new elevator and stair tower, and create additional multipurpose space for residents. Proceeds of the bond financing were also used to refinance bonds previously issued by WHEFA in 2013. This tax-exempt financing process has enabled Milwaukee Catholic Home to operate more effectively by financing and refinancing its capital expenses at a low interest rate (2.871%).
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.
