April 26, 2022
Jewish Home and Care Center, Inc. – $3,200,000
Prospect Congregate Housing, Inc. – $1,800,000
WHEFA Bond Financing Helps Ovation Communities Renovate in Oconomowoc
Bonds Placed with Town Bank, N.A.
“We are grateful for the opportunity to receive tax-exempt financing that allows us to expand our services by providing quality environments and services that enable our elders to live with comfort, meaning, independence and dignity. Being a 115-year-old organization, tax exempt financing allows us to stretch our donors resources beyond this construction cost and to continue supporting our ongoing mission of programming and care that welcomes and honors our elders regardless of their ability to privately pay for these services.”
– Michael I Sattell, President & CEO
Jewish Home and Care Center, Inc. and
Prospect Congregate Housing, Inc.
Ovation Communities employs 318 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA will be used to help Jewish Home with costs related to demolition and remodeling to create a new assisted living memory care program for up to 16 elders and Prospect Congregate with costs related the expansion and remodeling of the institutional kitchen. This tax-exempt financing process has enabled Ovation Communities to operate more effectively by financing and refinancing its capital expenses at low interest rates.
WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit institutions to obtain and maintain access to tax-exempt financing in order to finance or refinance their capital improvement and expansion needs.
