News Advisory to Come

WHEFA Bond Financing Helps Carroll University, Inc. Expand in Waukesha

Bonds placed with Town Bank, N.A. - Wintrust Financial Corporation  

“WHEFA’s support of The Carroll University Sullivan School of Business, Engineering and Technology is an investment in future business leaders and engineers critical to the workforce in Wisconsin. Tax-exempt financing helps create affordable opportunities for innovation, growth, and long-term economic competitiveness across the state. We are grateful to WHEFA for recognizing that supporting education through tax-exempt financing is one of the most effective ways to build a stronger Wisconsin.”
       -  Andy Hoban, Vice President for Finance
         Carroll University, Inc.

Carroll University employs 420 FTE equivalents.

Bond financing facilitated by WHEFA will be used to help Carroll University finance the construction, equipping and furnishing of a new 54,084 sq ft., three-story educational facility to be known as the Sullivan School of Business, Engineering and Technology.  This tax-exempt financing will enable Carroll University to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.carrollu.edu

WHEFA Bond Financing Helps Spooner Health System, Inc. 
Expand Rural Services in Spooner

Bonds placed with Citizens Bank, National Association & Johnson Bank  

“Tax exempt financing has been critical to Spooner Health in keeping us financially viable and open to the community.  Back in 2014, working with WHEFA allowed us to build a replacement critical access hospital that we opened in May 2016.  It has allowed us to increase the services we provided and meet the needs and expectations of health care consumers in rural Wisconsin.  This current bond issue using tax exempt financing will additionally allow us to grow and be financially strong.”

        -  Rebecca Liljestrom, Chief Financial Officer
           Spooner Health System, Inc

Spooner Health System employs 129 FTE Employees.

Bond financing facilitated by WHEFA will be used to help Spooner Health System finance an 18,000-square-foot addition to its existing hospital. The addition will house a new primary care rural health clinic as well as house a visiting specialist clinic, general surgery, and wound care department.  The project also includes the renovation and repurposing of several areas of the hospital to meet the expanding needs of the community.  This tax-exempt financing will enable Spooner Health System to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.spoonerhealth.com

WHEFA Bond Financing Helps Immanuel Lutheran School
Expand and Renovate in Brookfield

Bonds placed with Waukesha State  Bank N.A.  

“Immanuel is deeply grateful for the opportunity to utilize tax-exempt financing as we move forward with this important investment in our future. Access to this type of financing allows us to reduce our interest rate over the life of the loan, resulting in substantial long-term savings. That difference represents hundreds of thousands of dollars that can remain within our ministry rather than being directed toward interest expenses.”
        -  Maggie Uravich, Business Administrator
           Immanuel Lutheran School

The School employs 65 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Immanuel Lutheran School (the “School”) finance the renovation of its existing facility as well as a 17,000 square foot expansion of the school. This tax-exempt financing will enable the School to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.immanuelbrookfield.org

WHEFA Bond Financing Helps the Nature and Culture Museum of Wisconsin Construct a Museum in Milwaukee

Bonds underwritten by Robert W. Baird & Co. 

“WHEFA financing is essential for ensuring the completion of construction for the Nature & Culture Museum of Wisconsin by providing bridge financing during our multi-year capital campaign. NCMW is the largest cultural and educational project in Wisconsin history, transforming a half-acre brownfield in downtown Milwaukee to a green urban space that will serve as an education destination for half a million people annually.”
        -  Thomas Oechler
           Vice President of Finance and Administration
           Nature and Culture Museum of Wisconsin

The Museum employs 130 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will help the Nature and Culture Museum of Wisconsin finance construction of a new 192,000 square foot museum facility in downtown Milwaukee that includes museum exhibits, classrooms, laboratories, a planetarium, a live butterfly vivarium, collections research and storage, cafe, retail store, offices, workshop space, nature walk and rooftop garden. This tax-exempt financing will enable the museum to operate more effectively by financing its capital expenses at a low interest rate while private donors pay their capital campaign pledges over multiple years.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.mpm.edu/future

WHEFA Bond Financing Helps Montessori School of Waukesha, Inc. 
Expand and Renovate in Waukesha

Bonds Underwritten by Westbury Bank

“The expansion project is critical to provide necessary spaces for our growing school. We provide high quality Montessori education for area families. About two-thirds of our students attend MSOW through our proud partnership with the School District of Waukesha. This partnership removes tuition as a barrier to attending our private, non-profit school, allowing many children to receive an education at MSOW who may not otherwise be able to afford this option.”
        -  Brenda Zellmer, Head of School
           Montessori School of Waukesha, Inc.

MSOW employs 40 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Montessori School of Waukesha (the “MSOW”) finance the renovation of its existing facility as well as a 13,620 square foot expansion of its school. This tax-exempt financing will enable MSOW to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.msow.org

WHEFA Bond Financing Helps Benevolent Corporation Cedar Community
Update Infrastructure and Refinance in West Bend

Bonds Underwritten by D.A. Davidson & Co. 

“Tax-exempt financing provides Cedar Community with access to long-term, low-cost capital, enabling us to invest in critical programs and infrastructure without sacrificing services or mission-driven goals. By reducing financing costs, we can stretch every dollar further, accelerate community benefits, and ensure financial resilience for the long term. This approach preserves more resources for our core work of serving older adults, while maintaining fiscal responsibility and transparency with our stakeholders.”
        -  Nicole Pretre, President & Chief Executive Officer
           Benevolent Corporation Cedar Community

Cedar Community employs 472 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Benevolent Corporation Cedar Community finance the updating of critical infrastructure and enhancement of resident and team member safety.  Bond proceeds were also used to refinance certain bonds previously issued by WHEFA in 2017 and 2022.  This tax-exempt financing will enable Cedar Community to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.cedarcommunity.org

WHEFA Bond Financing Helps Saint Francis de Sales Seminary, Inc.
Renovate and Restore in St. Francis

Bonds placed with Town Bank N.A. 

“WHEFA-supported financing allows Saint Francis de Sales Seminary to renovate and restore its antebellum facility, Henni Hall, without requiring the Seminary to access Wisconsin State Historical Tax Credits.  WHEFA enabled the Seminary to complete the renovation solely through private funding sources.”

        -  Edward P. Mooney Jr., Chief Operating Officer
           Saint Francis de Sales Seminary

The Seminary employs 29 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Saint Francis de Sales Seminary finance the renovation and historical and architectural restoration of its dormitory facilities and bring the facility up to current building codes. This tax-exempt financing will enable the Seminary to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.sfs.edu

WHEFA Bond Financing Helps Wisconsin Housing Preservation Corp. 
Expand Affordable Housing Access Throughout Wisconsin

Bonds Underwritten by Piper Sandler & Co. 

“We are thrilled to have been able to close our second tax-exempt bonds offering in January 2026.  The funds provide much needed capital to improve our properties and preserve affordable housing for the benefit of the citizens of Wisconsin.  Without the ability to use tax exempt bonds, we would not be able to provide higher quality housing with affordable rents to our residents.  This mechanism allows us to achieve efficient pricing to lower rents and provide much needed affordable housing.  This also alleviates high rent burdens that are affecting so many of our working populations in Wisconsin.”

- Lee Ferderer, Chief Investment Officer & General Counsel
  Wisconsin Housing Preservation Corp.

WHPC employs 41 full-time equivalents in Wisconsin.

WHPC is the largest owner of affordable housing in the State of Wisconsin with over 9,400 affordable multifamily housing units, across 58 counties in Wisconsin, serving over 18,000 Wisconsin residents.

Bond financing facilitated by WHEFA will be used to help WHPC finance the acquisition, renovation, remodeling and equipping of an existing 47‐unit multifamily housing project in South Milwaukee, Wisconsin.  Bond proceeds will also be used for the renovation, remodeling and equipping of affordable housing apartment projects across 16 counties. Bond proceeds were also used to refinance certain taxable loans. This tax-exempt financing will enable WHPC to operate more effectively by financing its capital expenditures at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.whpc.com

WHEFA Bond Financing Helps Greater Holy Temple
Christian Academy Inc. Expand in Milwaukee

Bonds Underwritten by Municipal Capital Markets Group, Inc. 

“Tax-exempt financing through WHEFA makes it possible for Greater Holy Temple Christian Academy to continue providing high-quality, faith-based education to children from underserved neighborhoods in Milwaukee. By lowering our cost of capital, this financing allows us to direct more resources toward student support, academic programs, and facility improvements — ensuring that families who need it most have access to a safe and stable learning environment.”

        -  Edward DeShazer, Executive Director & CFO
           Greater Holy Temple Christian Academy Inc.

GHTCA employs 51 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Greater Holy Temple Christian Academy (“GHTCA”) finance the acquisition, rehabilitation and equipping of land and the current school building located thereon located in Milwaukee, Wisconsin, currently leased by GHTC. Bond proceeds also refinanced prior taxable debt. This tax-exempt financing will enable GHTCA to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.greaterholy.org

WHEFA Bond Financing Helps ProHealth Care Refinance in 
Waukesha, Oconomowoc, Pewaukee, Mukwonago, and New Berlin

Bonds placed with Bank of America, N.A. 

“The refinancing allows ProHealth to add tax-exempt variable rate exposure. A favorable interest rate and related flexibility is one of the key strengths of tax-exempt bond financing. Tax-exempt financing enables ProHealth to operate more effectively by financing its capital improvements at a favorable interest rate. ProHealth is pleased to support its patients and the communities it serves with more affordable health care through cost effective financing.”
        -  Andy Gutierrez, Chief Financial Officer
        ProHealth Care, Inc.

ProHealth Care employs 3,330 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help ProHealth Care refinance certain bonds previously issued by WHEFA in 2021.  This tax-exempt financing will enable ProHealth Care to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.prohealthcare.org

WHEFA Bond Financing Helps Capitol Lakes, Inc. 
Expand, Renovate and Refinance in Madison

Bonds Underwritten by D.A. Davidson & Co. 

“Tax exempt financing has been instrumental for Capitol Lakes to continue to meet our mission of enriching lives as a premier continuing care retirement community in serving seniors throughout the Madison area. Being able to issue tax-exempt bonds at a lower cost of capital ensures that our project expansion is financially sustainable and accomplishes our objective of providing additional senior living for Madison area seniors.”

        -  Diana Jamison, Chief Financial Officer

Capitol Lakes employs 155 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Capitol Lakes finance the acquisition, construction, renovation, remodeling, improvements and equipping of the Borrower's continuing care retirement facilities in Madison, Wisconsin.  The project includes the renovation of the skilled nursing building and the conversion of a vacant floor into 30 units of assisted living as well as the demolition of the existing assisted living building for the construction of a new 133,535 square foot, 49-unit independent living facility to be known as Bassett Place.  Bond proceeds were also used to refinance certain bonds previously issued by WHEFA in 2022.  This tax-exempt financing will enable Capitol Lakes to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.capitollakes.org

WHEFA Bond Financing Helps Kenosha Schools of Technology 
Enhanced Curriculum, Inc. Expand in Kenosha

Bonds Underwritten by Raymond James & Associates

“Financing a new school can be a challenge for traditional financing sources. WHEFA’s tax-exempt bond program allows education and mission-oriented investors access to projects like KTEC’s. Access to tax-exempt, fixed-rate debt makes all the difference when opening a new school and keeps taxpayer dollars in the classroom.”
        -  Dr. Angela Andersson, CEO / Executive Director
          KTEC Schools of Innovation

KTEC employs 44 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Kenosha Schools of Technology Enhanced Curriculum, Inc. (“KTEC”) finance the acquisition, rehabilitating and equipping of land and a building located thereon located in Kenosha, Wisconsin, for a new charter school facility, KTEC Schools of Innovation, expected to include laboratory spaces aligned with career pathways, athletic fields and sport facilities. This tax-exempt financing will enable KTEC to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.ktecschools.org

WHEFA Bond Financing Helps Centurion Foundation SE Wisconsin, Inc. 
Lower Occupancy Costs in Milwaukee and Mequon

Bonds placed with Lord, Abbett & Co. LLC

Centurion Foundation is the nation’s leading 501(c)(3) organization transforming healthcare real estate. At the intersection of healthcare, philanthropy, and property ownership, we partner exclusively with mission-aligned health systems to reduce costs, enhance operational control, and unlock resources for patient care.

Since 2018, our innovative charitable lease model has built a $1.7 billion portfolio across 56 properties with 20 health systems nationwide—reducing rent expenses by up to 50%, eliminating property taxes, and minimizing balance sheet impact.

We are committed to delivering HEALTHIER REAL ESTATE solutions that empower healthcare organizations to better serve their communities. 
        -  Ben M. Mingle - President and CEO
           The Centurion Foundation, Inc.

Bond financing facilitated by WHEFA will be used to help Centurion Foundation SE Wisconsin, LLC finance the acquisition and improvement of medical office buildings located in Milwaukee and Mequon, Wisconsin. This tax-exempt financing will enable Centurion to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.centurionfoundation.org

WHEFA Bond Financing Helps Seton Catholic Schools 
Expand in Milwaukee

Bonds placed with Town Bank

“Seton Catholic Schools is a transformational educational system committed to overcoming social and academic challenges, empowering students, families and educators to attain their God-given potential. As a Catholic school organization working every day to fulfill this mission, we must be good stewards of our resources to achieve that goal. Careful consideration is given to ensure that all resources are most effectively deployed to serve our students, their families, and communities. The savings attained through tax-exempt financing enables Seton Catholic Schools to use the resources we have for the needs and priorities of our schools instead of paying additional financing fees.”
        -  Lori Saqer, Chief Finance and Administrative Officer
           Seton Catholic Schools, Inc.

Seton Catholic Schools employs 493 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Seton Catholic Schools finance the construction and equipping of its new K-8 school building with a capacity of 500 students in Milwaukee, Wisconsin.  This tax-exempt financing will enable Seton Catholic Schools to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.setoncatholicschools.com

WHEFA Bond Financing Helps Ripon College
Permanently Finance Expansion and Upgrades in Ripon

Bonds placed with National Exchange Bank & Trust 

“The ability to refinance both projects with favorable tax-exempt financing rates allows Ripon College to allocate more resources to our mission of preparing students of diverse interest for lives of productive, socially responsible citizenship, as well as remaining an intentionally sized, intellectually vibrant, and civic-minded college. With 32% of our students being first-generation college students, Ripon College is dedicated to positive social mobility and relies on all additional funds to support our students.”
        -  Audra Hoffmann, Vice President for Finance & CFO
           Ripon College

Ripon College employs 192 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA was used to help Ripon College put permanent financing in place for the construction of an approximately 68,500 square foot science center and approximately 157,000 square foot athletic stadium.  This tax-exempt financing will enable Ripon College to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.ripon.edu

WHEFA Bond Financing Helps Hospital Sisters Services Expand
in Green Bay, Refinance in Northeastern Wisconsin

Bonds underwritten by Morgan Stanley & Co. LLC and BofA Securities, Inc. 

“Tax-exempt financing through WHEFA is a vital resource that allows us to invest wisely in the future of healthcare for the patients we care for. By lowering the cost of borrowing for a project of this magnitude, we can devote more resources to what matters most - expanding access to high-quality care, keeping services local, and strengthening the healing mission of HSHS for the communities we are privileged to serve.”

        -  Michael Scialdone,
           HSHS Senior Vice President & Chief Financial Officer
          Hospital Sisters Services, Inc.

Hospital Sisters Services employs 1,864 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Hospital Sisters Services finance an expansion of the emergency department at HSHS St. Elizabeth’s Hospital in O’Fallon, Illinois, and the construction and equipping of a new bed tower and additional operating and procedural rooms at HSHS St. Mary’s Hospital Medical Center in Green Bay, Wisconsin.  Bond proceeds were also used to refinance certain bonds previously issued by WHEFA in 2014 and certain other tax-exempt bonds.  Tax-exempt financing will enable Hospital Sisters Services to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.hshs.org

WHEFA Bond Financing Helps Southwest Health Center
Expand in Platteville

Bonds placed with Huntington Public Capital Corporation  

Southwest Health Center employs 510 full-time equivalents in Wisconsin.

“Tax-exempt financing plays a crucial role in enabling Southwest Health Center in Platteville to continue its mission of providing high-quality, accessible healthcare to the community. By reducing the cost of borrowing, these financial benefits allow the organization to reinvest in essential services, expand infrastructure, and enhance patient care without the burden of excessive debt. Ultimately, it ensures that the focus remains on the health and well-being of the Platteville community, fostering organizational growth and long-term sustainability.”
        -  Jesse Sookochoff, Chief Financial Officer
           Southwest Health Center, Inc

Bond financing facilitated by WHEFA will be used to help Southwest Health Center finance a three-phase project beginning summer 2025 and concluding summer 2027, comprising the expansion of surgical space, infusion, inpatient pharmacy, lab, and clinic; the construction of a medical outpatient building, and internal remodeling to the main hospital/clinic campus.  This tax-exempt financing will enable Southwest Health Center to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.southwesthealth.org

WHEFA Bond Financing Helps Regional Medical Center Utility
and Infrastructure Obligated Group Improve in Milwaukee

Bonds placed with Town Bank, N.A.

“Milwaukee Regional Medical Center is committed to advancing the health and well-being of the community by investing in critical infrastructure and utility improvements across our campus. This financing mechanism will not only enhance access to and within the campus but significantly improve the safety and functionality of our roads, walking paths, and bike lanes. Most importantly, it ensures that the foundational infrastructure is in place to support both current initiatives and future growth.”
        -  Rachel Stauffer, Vice President of Finance
           Milwaukee Regional Medical Center

Milwaukee Regional Medical Center employs 45 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Milwaukee Regional Medical Center Utility and Infrastructure Obligated Group finance the completion of Phase II of its West Side Development (WSD) MRMC Infrastructure project to include completion of 95th Street from Connell Ave to Watertown Plank Rd, 92nd Street from Connell Ave south to and including an access road, the design and engineering plan of Phase III; MRMC Water utilities related to the WSD Phase II project; and MRMC Thermal steam and chilled water laterals to a new Froedtert Hospital addition on 92nd Street.  This tax-exempt financing will enable Milwaukee Regional Medical Center Utility and Infrastructure Obligated Group to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

WHEFA Bond Financing Helps Froedtert ThedaCare Health
Expand in Milwaukee and Refinance in Milwaukee and Menomonee Falls

Bonds underwritten by Morgan Stanley & Co. LLC, Barclays Capital Inc., and BofA Securities, Inc. 

“Froedtert ThedaCare Health’s capital strategy is built on the cornerstone of tax-exempt financing which provides cost-efficient access to capital for enterprise growth and delivery of health care services. The expansion will include inpatient care floors, a new main lobby and a bridge connector to a parking structure to meet the growing needs of our community.”
        -  Scott Hawig, Chief Financial and Administrative Officer,
           Froedtert ThedaCare Health

Froedtert ThedaCare Health employs 18,842 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Froedtert ThedaCare Health finance the construction of a new 9-story, 225,000-square-foot, 96-bed patient tower on the Froedtert Hospital campus at the Milwaukee Regional Medical Center.  Bond proceeds were also used to refinance certain bonds previously issued by WHEFA in 2021.  This tax-exempt financing will enable Froedtert ThedaCare Health to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

WHEFA Bond Financing Helps Good Shepherd Evangelical Lutheran School
Expand in West Bend

Bonds placed with National Exchange & Trust 

Good Shepherd Evangelical Lutheran School employs 24 full-time equivalents in Wisconsin.

“The tax-exempt financing available through WHEFA helped make this expansion project possible. The savings in interest paid was substantial and allowed Good Shepherd to maximize the expansion project. Without this financing, our project’s scope would have narrowed. We would not have been able to accommodate future growth.”
        -  James M. Sievert, Business Manager
           Good Shepherd Evangelical Lutheran School

Bond financing facilitated by WHEFA will be used to help Good Shepherd Evangelical Lutheran School finance the conversion of the current school gym into a two-story school expansion to accommodate up to ten new classrooms, as well as build a new replacement gym.  This tax-exempt financing will enable Good Shepherd Evangelical Lutheran School to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.goodshepherdwels.org

WHEFA Bond Financing Helps Madison Development Corporation  
Construct Workforce Housing in Middleton

Bonds placed with Lake Ridge Bank

“MDC is redeveloping 3 older houses into a new 40-unit multi-family affordable workforce housing project in downtown Madison, WI. This brings our unit count to 346 units.  With the WHEFA Bond, our project becomes feasible due to the tax exemption on our loan rate and on our real estate taxes (for units <60% AMI), which we achieve due to our nonprofit status. We thank the State of WI, WHEFA, and our financing partner Lake Ridge Bank for helping us address the need for affordable workforce housing in Madison, WI.”
        -  Lorrie Keating Heinemann, President & CEO
           Madison Development Corporation

Madison Development Corp. employs 13 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Madison Development Corporation finance the demolition of houses wholly owned by Madison Development Corporation and build a 40-unit workforce housing multi-family project in downtown Madison, Wisconsin.  This tax-exempt financing will enable Madison Development Corporation to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.mdcorp.org

WHEFA Bond Financing Helps Chiara Housing and Services, Inc. 
Acquire Grace Commons in Menomonee Falls

Bonds underwritten by D.A. Davidson & Co.   

“Chiara Housing and Services’ mission is to provide affordable senior housing options to the citizens of Wisconsin, and this transaction assures that this campus will remain in local control for many years to come. With the favorable tax-exempt financing rates achieved through this transaction, Wisconsin seniors will benefit by having affordable choices for living in their golden years, including options for Independent Living, Assisted Living and Memory Care.” 
  - Glen Choban, Board Chairman
    Chiara Housing and Services, Inc.

Chiara Housing and Services employs 231 full-time equivalents in Wisconsin.







Grace Commons employs and retained 90 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA was used to help Chiara Housing and Services, Inc. finance the acquisition of senior living Communities located in Menomonee Falls, Wisconsin.  This tax-exempt financing will enable Chiara Housing and Services, Inc. to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.capricommunities.org

WHEFA Bond Financing Helps St. John's 
Evangelical Lutheran School Expand in Wauwatosa

Bonds Placed with Waukesha State Bank  

“The ability to finance our school expansion with tax-exempt bonds allowed us to proceed with the project earlier than we would have using conventional financing, while adhering to our self-imposed monthly repayment schedule. Reducing our borrowing costs enables us to allocate more resources towards our mission of providing excellence in education to equip students for life and for eternity.”
                 - Lawrence A. Totsky,
                   Chairman, Board of Finance
                   St. John’s Evangelical Lutheran Church of Wauwatosa

St. John's Evangelical Lutheran School employs 30 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help St. John's Evangelical Lutheran School construct a three-story addition to the existing school that will expand the school’s science and music programs, before and after-school care and early childhood programming.  This tax-exempt financing will enable St. John's Evangelical Lutheran School to operate more effectively by financing its capital expenditures at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.sjtosa.org

News Advisory to Come

Website: www.carthage.edu

WHEFA Bond Financing Helps Aspirus, Inc. 
Construct, Renovate and Expand at Multiple Locations

Bonds Underwritten by Barclays and BofA Securities Inc. 

“Aspirus is a catalyst for creating healthy, thriving communities. Bond financing, including this one, allows Aspirus to create additional access to high-value care that is needed for communities across Wisconsin. ”
  -   Jerry Yang, Chief Financial Officer
      Aspirus, Inc.

Aspirus employs 8,366 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Aspirus, Inc. to finance the construction, renovation, relocation, and expansion of health care facilities operated in Wisconsin and Michigan, including the construction of a new 26,000-square-foot hospital facility in Chippewa Falls, WI expected to include emergency and inpatient beds, as well as primary care, lab and imaging services. Bond proceeds were also used to repay a portion of certain taxable indebtedness.  This tax-exempt financing will enable Aspirus to expand its service offerings and operate more effectively by financing its capital expenditures at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.aspirus.org

WHEFA Bond Financing Helps Chiara Housing and Services, Inc. Acquire Communities 
in Cottage Grove, Madison, Milwaukee, Brookfield, Grafton and Port Washington

Bonds Underwritten by D.A. Davidson & Co. 

“Chiara Housing and Services’ mission is to provide affordable senior housing options to the citizens of Wisconsin, and this transaction assures that these properties will remain in local control for many years to come. With the favorable tax-exempt financing rates achieved through this transaction, Wisconsin seniors will benefit by having affordable choices for living in their golden years, including options for Independent Living, Assisted Living and Memory Care.” 
  - Glen Choban, Board Chairman
    Chiara Housing and Services, Inc.

Bond financing facilitated by WHEFA was used to help Chiara Housing and Services, Inc. finance the acquisition of senior living Communities located in Cottage Grove, Madison, Milwaukee, Brookfield, Grafton and Port Washington, Wisconsin.  This tax-exempt financing will enable Chiara Housing and Services, Inc. to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

WHEFA Bond Financing Helps Bethany Lutheran Homes, Inc. / 
Eagle Crest Communities Expand in Onalaska

Bonds placed with Alerus Financial, N.A.   

“WHEFA is a tremendous asset, serving as a conduit for tax exempt bond financing. We have worked with WHEFA many times and the results have always been outstanding. They have a great team of professionals!”
  -  Todd D. Wilson, Chief Executive Officer
    Bethany Lutheran Homes/Eagle Crest Communities Inc.

Bethany Lutheran Homes / Eagle Crest Communities employs 350 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Bethany Lutheran Homes, Inc. finance the construction of a five-story addition, comprising 87 independent living units along with related supportive services and facilities, to the Borrower’s existing Eagle Crest North senior housing facility.  This tax-exempt financing will enable Bethany Lutheran Homes to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.eaglecrestlife.org

WHEFA Bond Financing Helps Wisconsin Housing Preservation Corp.
Expand Affordable Housing Across Wisconsin

Bonds Underwritten by Piper Sandler & Co.  

“We are pleased to execute financing through tax-exempt bonds to provide much needed capital to improve our properties, preserve affordable housing, and develop and construct new affordable housing in Wisconsin.  Without the ability to use tax exempt bonds, we would not be able to provide higher quality housing with affordable rents to our residents.  This mechanism allows us to achieve efficient pricing to lower rents and provide much needed affordable housing.  This also alleviates high rent burdens that are affecting so many of our working populations in Wisconsin.”
- Mary Wright, President
 Wisconsin Housing Preservation Corp.

WHPC employs 42 full-time equivalents in Wisconsin.

WHPC is the largest owner of affordable housing in the State of Wisconsin with over 9,000 affordable multifamily housing units, across 57 counties in Wisconsin, serving over 18,000 Wisconsin residents.

Bond financing facilitated by WHEFA will be used to help WHPC finance the construction of a new 50‐unit affordable housing project, Vicino, in Madison, Wisconsin.  Bond proceeds will also be used for the acquisition of affordable housing apartment projects in Green Bay, Fitchburg and Altoona, Wisconsin, as well as the renovation, remodeling and equipping of existing multifamily housing facilities of WHPC in Hartland, Burlington, Oak Creek, Menomonee Falls, Fond du Lac, and Glendale, Wisconsin, Bond proceeds were also used to refinance certain taxable loans. This tax-exempt financing will enable WHPC to operate more effectively by financing its capital expenditures at a low interest rate.

Website: www.whpc.com

WHEFA Bond Financing Helps Froedtert ThedaCare Health
Refinance in Appleton, Neenah, Berlin, Waupaca, Shawano, New London & Wild Rose

Bonds Placed with Morgan Stanley Bank 

“Froedtert ThedaCare Health’s capital strategy is built on the cornerstone of tax-exempt financing which provides cost-efficient access to capital for enterprise growth and delivery of health care services. We’re thankful for the support of WHEFA and its team.”
-  Scott Hawig, Chief Financial and Administrative Officer,     
   Froedtert ThedaCare Health

Froedtert ThedaCare Health employs 16,638 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Froedtert ThedaCare Health refinance certain bonds previously issued by WHEFA in 2015.  This tax-exempt financing will enable Froedtert ThedaCare Health to operate more effectively by financing its capital expenditures at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.froedtert.com

WHEFA Bond Financing Helps Versiti, Inc. Expand in Wauwatosa

Bonds Placed with DNT Asset Trust 

“Versiti is marking a significant milestone for the future of blood health as construction begins on a $79 million expansion of the Versiti Blood Research Institute. This new, state-of-the-art facility is set to open in 2026 and will attract top scientific talent while driving innovative research that translates discoveries into lifesaving treatments, enhancing patient care globally. The project, supported by tax-exempt bonds, underscores our commitment to advancing healthcare while preserving financial stability. By leveraging these bonds, we can invest more resources into groundbreaking research and infrastructure, ultimately leading to an anticipated economic impact of more than $500 million for the state by 2050. This strategic funding approach is crucial for fostering sustainable growth and ensuring we continue to meet the critical needs of our community and beyond.”

- Derek Tyus, EVP and Chief Financial Officer
  Versiti, Inc.

Versiti employs 1,070 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Versiti finance the construction of a 78,000 square foot expansion of the Versiti Blood Research Institute adjacent to the existing facility on the MRMC Campus to support additional researchers.  This tax-exempt financing will enable Versiti to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.versiti.org

WHEFA Bond Financing Helps Kirkland Crossings, Inc.
Expand  in Pewaukee

Bonds Placed with Bremer Bank, National Association 

“Having access to tax exempt financing allows us to borrow at lower rates and therefore keep rents and other services as affordable as possible for the seniors we serve. We have had a great relationship with WHEFA in the past and appreciate their flexibility and partnership.”
- Mark Meyer, Chief Financial Officer
  Presbyterian Homes and Services

Kirkland Crossings employs 47 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Kirkland Crossings finance its second phase of development that will include a 4-story building consisting of 77 apartments, underground parking and amenity spaces adjacent to the Kirkland Crossings existing campus.  This tax-exempt financing will enable Kirkland Crossings to operate more effectively by financing its capital expenditures at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.preshomes.org

WHEFA Bond Financing Helps ProHealth Care, Inc. Refinance in
Waukesha, Oconomowoc, Mukwonago, Pewaukee, Brookfield & Muskego

Bonds Underwritten by BofA Securities Inc. 

“The refinancing is estimated to save the health system $12.2 million over 10 years. A favorable interest rate is one of the key strengths of tax-exempt bond financing. Tax-exempt financing enables ProHealth to operate more effectively by financing its capital improvements at a favorable interest rate. ProHealth is pleased to support its patients and the communities it serves with more affordable health care through these refinancing costs savings.”
-  Andy Gutierrez, Chief Financial Officer
  ProHealth Care, Inc.

ProHealth Care employs 3,546 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help ProHealth Care refinance certain bonds previously issued by WHEFA in 2015.  This tax-exempt financing will enable ProHealth Care to operate more effectively by financing its capital expenditures at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.prohealthcare.org

WHEFA Bond Financing Helps Marshfield Clinic Health System, Inc.
Construct, Renovate, and Refinance in Central, Northern and Western Wisconsin

Bonds Underwritten by Barclays and BofA Securities 

“Marshfield Clinic Health System has been enriching lives to create healthy communities though accessible, affordable, compassionate health care for over 100 years.  Our partnership with WHEFA has provided access to low-cost, tax-exempt financing which funds projects that allow Marshfield to enrich lives and create healthy communities for the next 100 years and beyond.”

- Janette Townsend,  VP Finance - CFO Finance Operations          
and Chief Investment Officer
Marshfield Clinic Health System, Inc.

Marshfield Clinic Health System employs 9,180 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Marshfield Clinic Health System finance the acquisition, construction, demolition, installation, improvement, renovation, equipping and/or relocation of its healthcare facilities.  Bond proceeds were also used to refinance certain bonds previously issued by WHEFA in 2012, 2019, 2020 and 2022.  This tax-exempt financing will enable Marshfield Clinic Health System to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.marshfieldclinic.org

WHEFA Bond Financing Helps Dickson Hollow
Expand in Menomonee Falls

Bonds Underwritten by Northland Securities, Inc. 

“Having access to tax exempt financing allows us to borrow at lower rates and therefore keep rents and other services as affordable as possible for the seniors we serve. We have had a great relationship with WHEFA in the past and appreciate their flexibility and partnership.”
            -   Mark Meyer, Chief Financial Officer
                Presbyterian Homes and Services

This project will create approx. 125 construction jobs.

Bond financing facilitated by WHEFA will be used to help PHW Menomonee Falls, Inc. d/b/a Dickson Hollow finance the construction of a new 4-story building that will contain an additional 118 independent living apartments that will expand the current campus.  This tax-exempt financing will enable Dickson Hollow to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.preshomes.org

WHEFA Bond Financing Helps Bellin Memorial Hospital, Inc. 
Refinance in Ashwaubenon and Green Bay

Bonds placed with DNT Asset Trust 

“The Authority provides a simple, streamlined process that facilitated Bellin Health achieving nearly $4 million in interest cost savings.  The savings will allow us to continue to better serve the community.”
        - John Ceelen, Chief Financial Officer
          Bellin Health Systems, Inc.

Bond financing facilitated by WHEFA will be used to help Bellin Memorial Hospital, Inc. refinance certain bonds previously issued by WHEFA in 2015.  This tax-exempt financing will enable Bellin Health to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.bellin.org

WHEFA Bond Financing Helps Lawrence University of Wisconsin
Expand in Appleton

Bonds Placed with Associated Bank, N.A. 

“As a not-for-profit higher-education institution, Lawrence was looking for low-cost financing for a critical project that will serve the interests of Lawrence’s students (both current and future) as well as multiple communities throughout the Fox Valley. Tax-exempt financing achieves this outcome for Lawrence. We are excited to continue to strengthen our relationship with our Fox Valley partners. We will not understate the benefits this has for our students (current and future) and for those within our local communities.”

        - Samir Datta, Vice President for Finance & Administration
         Lawrence University of Wisconsin

This project will create approx. 100 construction jobs.

Bond financing facilitated by WHEFA will be used to help Lawrence University of Wisconsin finance the construction of a new 4-story building in downtown Appleton that will be a collaboration between Lawrence University and Trout Museum of Art. The University will own the top three floors of the building which will house academic space for the conservatory of music and college departments including math, data science and humanities as well as housing.  This tax-exempt financing will enable Lawrence University of Wisconsin to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.lawrence.edu

WHEFA Bond Financing Helps Woodside Senior Communities
Expand in Ashwaubenon

Bonds Placed with BMO Investment Company LLC & Nicolet National Bank 

“Woodside Senior Communities’ current campus is organized for the purpose of providing health care and senior housing services to individuals in the general geographic area of the Green Bay Conference of the East Central Wisconsin Synod of the Evangelical Lutheran Church of America. The new project will be owned and used exclusively by this nonprofit entity.  The revenue from this project will help to offset increasing deficits as reimbursement rates from Medicare, Medicaid and other insurances continue to decrease and do not cover the full cost of care.”
        - Polly Gretzinger, Executive Director
          Woodside Senior Communities

Bond financing facilitated by WHEFA will be used to help Woodside Senior Communities finance the construction of a new 83-unit active adult living apartment complex.  The Borrower is expanding its service line to include an active adult community, geared for those typically age 50+ who are active in the community and may even still be working.  This tax-exempt financing will enable Woodside Senior Communities to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.woodsideseniorcommunities.org

WHEFA Bond Financing Helps Three Pillars Senior Living Communities 
Expand in Dousman

Bonds Underwritten by Cain Brothers, a division of KeyBanc Capital Markets  

“Since 1905, Three Pillars has served thousands upon thousands of residents and families. As a not-for-profit, our proceeds are reinvested back into the organization to improve our product and services, as well as providing care for residents who may outlive their assets. When we can secure tax-exempt financing, it allows us to invest even more money to directly support our residents. In addition, the charitable contributions to our mission over the past century have helped build our strong balance sheet that investors find attractive.”
        - Jean Freuck, CFO / VP of Finance and Sales
          Three Pillars Senior Living Communities

Bond financing facilitated by WHEFA will be used to help Three Pillars Senior Living Communities finance the construction of 110 units as well as the development of a town center to provide new amenities for the entire Campus and create a neighborhood style of living.  This tax-exempt financing will enable Three Pillars Senior Living Communities to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.threepillars.org

WHEFA Bond Financing Helps Fort HealthCare Inc. Remodel in Fort Atkinson

Bonds Underwritten by BofA Securities 

“Access to tax-exempt financing is allowing Fort HealthCare to economically invest in its physical plant in a way that will help keep its ongoing operating costs low through the reduced interest rate burden.”
        - James Nelson, SVP/CFO
          Fort HealthCare, Inc.

Bond financing facilitated by WHEFA will be used to help Fort HealthCare, Inc. finance the conversion of the Hospital’s existing and original 1949 building into medical office clinics and administrative suites as well as other routine capital improvements.  This tax-exempt financing will enable Fort HealthCare, Inc to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.forthealthcare.com

WHEFA Bond Financing Helps Forensic Science and Protective
Medicine Collaboration, Inc. Construct in Wauwatosa

Bonds Underwritten by Raymond James and Blaylock Robert Van, LLC

“Tax-exempt financing of the Forensic Science and Protective Medicine facility will provide the taxpayers the best terms available to finance the construction of this State and County partnership facility.”
       - Jeffrey R. Bornemann, President
         Forensic Science and Protective Medicine Collaboration, Inc.

Bond financing facilitated by WHEFA will be used to help Forensic Science and Protective Medicine Collaboration, Inc. finance a historic public-private collaboration with the State of Wisconsin (the “State”) and Milwaukee County (the “County”) to construct the new Forensic Science and Protective Medicine Facility (the “Facility”).  The Facility will be divided into two units.  One unit will house the State of Wisconsin Crime Lab which will include a demonstration lab, a DNA analysis unit, a chemistry section comprising a controlled substances unit, a toxicology unit and a trace evidence unit, and a criminalistics section comprising a firearms and toolmark unit, an identification unit, an imaging unit, and a crime scene response unit.  The other unit will house the Milwaukee County Medical Examiner’s Office and the Milwaukee County Office of Emergency Management and other offices for various other administrative, academic and research purposes and will include morgue and toxicology facilities for the medical examiner’s office.  The project also includes a parking structure for the Facility.

The State and County will each purchase their respective unit from Forensic Science and Protective Medicine Collaboration, Inc. upon substantial completion of construction of the facility.

This tax-exempt financing will enable Forensic Science and Protective Medicine Collaboration, Inc. to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.mcw.edu

WHEFA Bond Financing Helps Reedsburg Area Medical Center Expand Rural Access in Reedsburg

Bonds placed with First Madison Investment Corporation,
an Affiliate of First Business Bank

“The new clinic has been a “want” for several years.  Due to the growing need for access to primary care and a huge need for the underserved in behavior health, the new Rural Health Clinic has become an absolute necessity.  The new Clinic will allow Reedsburg Area Medical Center to continue to recruit primary care and behavioral health providers into our growing community. We are grateful that WHEFA has been able to provide tax exempt funding for this much needed project.”
        - Barry Borchert,
          Vice President-Finance/Chief Financial Officer       
          Reedsburg Area Medical Center, Inc.

Reedsburg Area Medical Center employs 488 full-time equivalents in Wisconsin

Bond financing facilitated by WHEFA will be used to help Reedsburg Area Medical Center, Inc. finance the construction of a new 48,700 square foot standalone rural health clinic that will include a behavioral health, women’s health, primary care, walk-in care, diabetic education and a retail pharmacy in Reedsburg, Wisconsin.  This tax-exempt financing will enable Reedsburg Area Medical Center, Inc to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.ramchealth.com

WHEFA Bond Financing Helps Milwaukee Regional Medical Center Utility and Infrastructure Obligated Group Improve in Wauwatosa

Bonds placed with Town Bank, N.A.  

“Milwaukee Regional Medical Center is proud to provide the infrastructure and utility improvements on this campus to enable the continued growth of critically necessary healthcare services, research, and medical education. This financing will allow MRMC to improve the access to and around the campus, enhance the safety of our roads, and ensure the infrastructure is established for currently planned and future growth.”
- Rachel Stauffer, Vice President of Finance
Milwaukee Regional Medical Center

Bond financing facilitated by WHEFA will be used to help Milwaukee Regional Medical Center Utility and Infrastructure Obligated Group (MRMC) finance costs associated with the extension of Doyne Ave and 95th Street, a new driveway to a campus building, and thermal laterals to a new forensic science building.  This tax-exempt financing process has enabled MRMC to operate more effectively by financing its capital expenses at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.mrmccampus.org

WHEFA Bond Financing Helps Carthage College Repair and Replace in Kenosha

Bonds placed with JPMorgan Chase Bank, N.A. 

“Carthage College recently completed a series of significant projects, including the renovation of the Lentz Hall building to support the growing needs of its Engineering Department. The upgraded Lentz Hall is expected to enhance the academic experience for engineering students by providing modern classrooms, labs, and collaborative spaces. The investment aligns with Carthage's commitment to strengthening its academic programs and expanding opportunities for students pursuing careers in engineering.”
- Vince Ceja,
Vice President for Finance and Chief Financial Officer
Carthage College

Carthage College employs 452 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA was used to help Carthage College with the acquisition, installation, replacement and/or repair of various equipment, elevators, boilers, fire alarms and security systems and of the College’s software systems.  This tax-exempt financing process has enabled Carthage College to operate more effectively by financing its capital expenses at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.carthage.edu

WHEFA Bond Financing Helps Kenosha Area Business Alliance Foundation, Inc. 
Construct and Revitalize in Kenosha

Bonds Placed with State Bank of the Lakes, N.A.  

“The expansion of LakeView Technology Academy is a very important project that simply wouldn’t have been possible without WHEFA’s tax-exempt financing. Bringing our blue-ribbon STEM academy – recently named the second-best high school in Wisconsin – to the Kenosha Innovation Neighborhood in the heart of Kenosha, allows us to upgrade the facilities and expand STEM education offerings to all Kenosha Unified high school students.”
        - Brock Portilia, Director of Finance and Administration
          Kenosha Area Business Alliance Foundation, Inc.

Bond financing facilitated by WHEFA will be used to help the Kenosha Area Business Alliance Foundation, Inc. finance the construction of a new 50,000 square foot replacement school building for Lakeview Technology Academy, a choice high school within the Kenosha Unified School District with a partnership with Gateway Technical College.  The new replacement school facility will be located in the Kenosha Innovation Neighborhood at the former Chrysler-Kenosha Engine Plant site.  This tax-exempt financing will enable the Kenosha Area Business Alliance Foundation, Inc to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.kaba.org

WHEFA Bond Financing Helps Stoughton Hospital Association Construct in Stoughton

Bonds Placed with First Madison Investment Corporation 

“We were fortunate to once again have a partner like WHEFA to provide us with a way to issue tax-exempt bonds which helps us to keep the cost of financing lower.  Keeping financing costs lower allows us to continue to grow service lines, exceed expectations of our patients and staff, and better serve the communities in our service area.  As with our previous issues, we truly appreciate the expertise and professionalism of the WHEFA staff.”
        - Michelle Abey, Vice President – Finance/CFO
          Stoughton Hospital Association

Bond financing facilitated by WHEFA will be used to help Stoughton Hospital Association finance the construction of a new 56,000 sq. ft. medical outpatient building that will contain dedicated space for specialty clinics, and new, enhanced space for cardiac, pulmonary, physical, occupational and speech rehabilitation.  This tax-exempt financing will enable Stoughton Hospital Association to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.stoughtonhealth.com

WHEFA Bond Financing Helps Carroll University, Inc. 
Fund Energy Improvement Initiatives in Waukesha

Financing Provided though Siemens Public, Inc.  

“Tax-exempt financing plays an important role in supporting Carroll University’s mission. The financial benefit of reduced borrowing costs for campus improvements allows Carroll to direct more resources toward enhancing educational opportunities and enriching the Carroll experience for our students.”
        - Andy Hoban, Interim Vice President for Finance
          Carroll University, Inc.

Carroll University employs 540 full-time equivalents in Wisconsin.

Project financing facilitated by WHEFA was used to help Carroll University finance costs associated with the acquisition and installation of certain energy improvement equipment and measures and renovations, including weatherization and retro-commissioning, on the University campus.  This tax-exempt financing will enable Carroll University to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.carrollu.edu

WHEFA Bond Financing Helps the Milwaukee Science Education Consortium, Inc. Refinance in Milwaukee

Bonds Underwritten by Robert W. Baird & Co. 

“The Milwaukee Academy of Science is a K4-12 charter school, operating since 2000, and provides rigorous 21st century curriculum for urban students with the goal to prepare students to compete successfully in science at the post-secondary level. This refinancing will allow for the Charter School to continue to provide a rigorous education by refinancing higher interest cost debt and allow for the school to free up funds to continue investing in their students.”
        - Pat Cornett, Chief Financial Officer
         Milwaukee Science Education Consortium, Inc.

Bond financing facilitated by WHEFA was used to help the Milwaukee Science Education Consortium, Inc. refinance certain indebtedness.  This tax-exempt financing will enable the Milwaukee Science Education Consortium, Inc. to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.milwaukeeacademyofscience.org

WHEFA Bond Financing Helps Madison Development Corporation Construct Workforce Housing in Middleton

Bonds Placed with First Madison Investment Corporation 

“As a non-profit, 501c3 workforce housing developer, Madison Development Corporation relies on tax exempt financing to bring quality workforce housing to Wisconsin.”
- Abbie Wallhaus, VP of Finance / CFO
Madison Development Corporation

Madison Development Corp. employs 12 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Madison Development Corporation finance the construction of a new multifamily development to be known as “The Mill Apartments” in Middleton, Wisconsin.  The Project will include 52 units of affordable workforce housing in a transit-oriented district.  This tax-exempt financing will enable Madison Development Corporation to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.mdcorp.org

WHEFA Bond Financing Helps Mount Mary University Refinance in Milwaukee

Bonds Placed with First Business Bank

“We were fortunate and grateful to refinance our debt at a reasonable rate due to our access to tax-exempt financing via WHEFA.”
        – Dr. Isabelle Cherney, President
          Mount Mary University, Inc.

Bond financing facilitated by WHEFA was used to help Mount Mary University refinance certain bonds previously issued by WHEFA in 2014. This tax-exempt financing will enable Mount Mary University to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.mtmary.edu

WHEFA Bond Financing Helps Wellpoint Care Network, Inc. to Renovate in Milwaukee

Bonds Placed with Johnson Bank

“This project transforms how we can utilize our campus to better serve the people in our care, support our staff and engage the neighbors and citizens in our NW Milwaukee location. Access to lower-cost financing allows us to implement our campus plan in a shorter time frame than using traditional financing.”
   -Ann Leinfelder Grove, President and CEO
   Wellpoint Care Network

Wellpoint employs 320 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Wellpoint transform its campus into a vibrant neighborhood anchor where families, neighbors and community partners will find trauma-informed social services, mental health resources and a place to connect, collaborate and care for themselves and one another.  This tax-exempt financing will enable Wellpoint to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.wellpoint.org

WHEFA Bond Financing Helps LindenGrove Communities Acquire and Update in Waukesha, New Berlin, Mukwonago and Menomonee Falls

Bonds Placed with Deutsche Bank Securities, Inc.

“LindenGrove Communities has utilized WHEFA’s financing expertise for all of our bond financing requirements and have always appreciated their guidance and professionalism.  This particular bond issue involved many unique and somewhat burdensome qualities that required the parties to be nimble.  We cannot say enough about the WHEFA team’s flexibility and accommodating nature in managing through the fluid nature of this transaction.”
        – Mark Sperka, President & CEO
          LindenGrove Communities

Bond financing facilitated by WHEFA will be used to help LindenGrove Communities, LLC, an affiliate of Marquardt Village, Inc., finance the acquisition of substantially all of the assets of LindenGrove, Inc. as well as finance capital improvements across four campuses, including infrastructure and technology upgrades, mechanical upgrades, a nurse call system and Wi-Fi replacements.  This tax-exempt financing will enable LindenGrove Communities to operate more effectively by financing its capital expenses at a low interest rate.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit organizations by providing access to tax-exempt financing to fund their capital improvement and expansion needs.

Website: www.lindengrove.org

WHEFA Bond Financing Helps Lawrence University of Wisconsin Reinvest and Update Facilities in Appleton

Bonds Placed with DNT Asset Trust

“With a tradition of excellent and affordable liberal arts and sciences education going back to 1847, Lawrence is in our community for the long haul. It takes constant reinvestment to keep our facilities up to date. Tax-exempt financing is a critical tool for keeping our borrowing costs low for capital renewal, so Lawrence can spend those dollars on improving educational resources instead of interest payments.”
 – Samir Datta, Vice President for Finance and Administration
  Lawrence University of Wisconsin

Bond financing facilitated by WHEFA will be used to help Lawrence University finance certain capital projects on its campus including the renovation of student residential and academic buildings, improvements to athletic facilities, acquisition of an office building, replacement of critical campus utilities and infrastructure.  Bond proceeds were also used to refinance certain bonds previously issued by WHEFA in 2014.  This tax-exempt financing enabled Lawrence University to operate more effectively by financing its capital expenses at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.lawrence.edu

WHEFA Bond Financing Helps Bellin Memorial Hospital, Inc. Construct and Renovate in Ashwaubenon and Green Bay

Bonds underwritten by BofA Securities, Inc. and Piper Sandler & Co.

“Bellin is extremely appreciative of the opportunity to work with WHEFA.  As a result of the extremely efficient process, we were able to complete our public financing in a short period of time.  The project Bellin is financing will grow the number of healthcare jobs in Northeastern Wisconsin and we will be able to take care of more people through this expansion.  Finally, the ability to improve a blighted location within our community will lead to further development in this area.  Because the area was blighted we are also able to issue all of the bonds as both federal and state tax exempt which will afford a lower cost of issuance for the organization.”
– James Dietsche, EVP-Chief Financial Officer
Bellin Health Systems, Inc.

Bond financing facilitated by WHEFA will be used to help Bellin Memorial Hospital, Inc. (the “Hospital”) construction Phase I of a five-story, approximately 256,000 square foot building that includes development of a free-standing ambulatory surgery center and multi-specialty clinic in the Village of Ashwaubenon, Wisconsin. Bond proceeds are also expected to be used to finance a portion of a nursing unit project at the Hospital in Green Bay, Wisconsin. This tax-exempt financing enabled the Hospital to operate more effectively by financing its capital expenses at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.bellin.org/

WHEFA Bond Financing Helps United Lutheran Program for the Aging Reposition and Refinance in Wauwatosa

“Luther Manor provides nearly $5 million in unreimbursed charity care a year in part because of generous donors and a business model that puts mission before profits. We also rely on access to tax-exempt financing to help us fund needed improvements and to bring critical programming to our community. Without the benefit of a tax-exempt rate, especially with interest rates climbing, we would not be able to afford the cost of funds needed to enhance our community and address the changing care needs of our residents. Our ability to remain strong after 60 years and ensure our mission of care continues relies on strong partners like WHEFA and access to tax-exempt financing.”
– Stephanie Chedid, President & CEO
United Lutheran Program for the Aging

Bond financing facilitated by WHEFA will be used to help United Lutheran Program for the Aging finance a new 18-bed community based residential facility memory care program, enhance its transitional care program and related therapy gym, and improve staff efficiency.  Bond proceeds were also used to refinance certain bonds previously issued by WHEFA in 2012.  This tax-exempt financing process has enabled United Lutheran Program for the Aging to operate more effectively by financing its capital expenses at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.luthermanor.org/

WHEFA Bond Financing Helps
Gundersen Health System Refinance in La Crosse

Bonds Placed with DNT Asset Trust 

“Tax-exempt financing enables Gundersen to execute our mission of improving the health of our communities, easing the financial burden of healthcare and offering an outstanding experience of care.”
Jerry Oetzel, Chief Financial Officer
Gundersen Health System

Gundersen Health employs nearly 7,500 full-time equivalents in Wisconsin.

Bond financing facilitated by WHEFA will be used to help Gundersen Health System refinance certain bonds previously issued by WHEFA in 2012. This tax-exempt financing enabled Gundersen to operate more effectively by financing its capital expenses at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.gundersonhealth.org 

WHEFA Bond Financing Helps Eau Claire Community Complex, Inc.

Bonds Placed with BMO Harris Bank N.A.

“Access to tax-exempt financing is key to the viability of this project.  The lower-cost construction financing helped us in securing the philanthropy for the project as well.  Knowing that we will be making the greatest use of all the financial resources available to us, ensures that this project will be a cost-effective way to add a major physical asset to the university and community.  We have learned that using all available resources and collaborating with partners means we end up with the best possible project.”
– Kimera Way, President
Eau Claire Community Complex, Inc.

Bond financing facilitated by WHEFA will be used to help build the Sonnentag Event Center and John and Carolyn Sonnentag Fieldhouse in Eau Claire, which will benefit the University of Wisconsin-Eau Claire (UWEC) and surrounding community. This transformative facility will include a 5,000-capacity event center, two-story center for health and wellbeing, offices for UWEC’s Blugold Athletics, four sport courts, 100-yard turfed indoor sport field and the Mayo Clinic Health System Diagnostic Imaging and Sports Medicine Center. This tax-exempt financing enabled the Eau Claire Community Complex (the facility owner) to operate more effectively by financing its capital expenses at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.foundation.uwec.edu/support-your-passion/buildings-facilities/sonnentag/

WHEFA Bond Financing Helps Benevolent Corporation Cedar Community Reposition in West Bend

Bonds Placed with Old National Bank

“Cedar Community appreciates having the ability to manage our debt service costs through tax-exempt financing, allowing us to repurpose existing building space to serve older adults in new ways and creating new revenue streams that will ensure the organization’s continued success.”

– Joe Pichler,
Vice President of Finance
Benevolent Corporation Cedar Community

Bond financing facilitated by WHEFA will be used to help Benevolent Corporation Cedar Community finance the repositioning of the main healthcare center building on its Cedar Lake Campus by consolidating the skilled nursing households and rehabilitation beds, creating new therapy space, adding 15 independent living loft-style apartments, and 16 additional independent living plus apartments. The project scope also includes additional dining, social, and wellbeing spaces, as well as additional administration areas, garages for residents and exterior improvements. This tax-exempt financing process has enabled the Benevolent Corporation Cedar Community to operate more effectively by financing its capital expenses at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.cedarcommunity.com

WHEFA Bond Financing Helps Mile Bluff Medical Center Construct and Renovate in Mauston

Bonds Placed with Signature Public Funding Corp.

“The benefits to tax-exempt debts are lower cost in interest over a longer period. As a non-profit healthcare organization, we are invested in keeping the cost of healthcare at the lowest while keeping the health system viable. Our organization is rooted in the community and needs means to stay independent and tax-exempt bonds are part of the means needed to accomplish serving our communities with limited resources.”
– Rebecca Oetzman,
Vice President/Chief Financial Officer
Mile Bluff Medical Center

Bond financing facilitated by WHEFA was used to help Mile Bluff Medical Center finance the remodeling of its inpatient pharmacy, outpatient cancer care unit, and obstetrical unit, as well as the acquisition and remodeling of a vacant Shopko building into an urgent care, retail pharmacy and dialysis unit. This tax-exempt financing process has enabled the Mile Bluff Medical Center to operate more effectively by financing its capital expenses at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.milebluff.com

WHEFA Bond Financing Helps Saint John’s Communities, Inc. Refinance in Milwaukee

“WHEFA continues to provide innovative solutions to help manage the cost of capital. Use of a forward delivery mechanism allowed us to lock while rates were low generating significant savings, a real win especially as labor and other costs continue to rise.”
 –  Renee Anderson, President
    Saint John’s Communities, Inc.

Bond financing facilitated by WHEFA was used to help Saint John’s Communities refinance certain bonds previously issued by WHEFA in 2012 and 2015.  This tax-exempt financing process has enabled Saint John’s Communities to operate more effectively by 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.

Website: www.saintjohnsmilw.org

WHEFA Bond Financing Helps Carthage College Construct & Renovate in Kenosha

“Carthage is a not-for-profit organization that educates students for participation in a democratic society and in the workforce. Our education enables them to master the practical knowledge, practical skills, and soft skills they need to thrive in society and in their work. The region, state government, and the nation benefit as a result.”
– David Timmerman, Provost
Carthage College

Bond financing facilitated by WHEFA was used to help Carthage College construct a new campus maintenance building to make room for a new engineering department in vacated maintenance space within an existing academic building, as well as complete renovations to its softball field and certain HVAC units on the campus.  This tax-exempt financing process has enabled the Carthage College to operate more effectively by financing its capital expenses at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.carthage.edu

WHEFA Bond Financing Helps UW-Platteville Real Estate Foundation Refinance in Platteville

Bonds Placed with MidWestOne Bank

“This refinancing allowed the UW-Platteville Real Estate Foundation to reduce our annual debt service which will enable us to better serve the UW-Platteville Foundation and the students at the University.  WHEFA and our refinancing partners made the process smooth and fit into our schedule.  This is our second successful venture with WHEFA.”
– Bill Kloster, Executive Director
UW – Platteville Real Estate Foundation, Inc.

Bond financing facilitated by WHEFA was used to help the UW-Platteville Real Estate Foundation (the “Foundation”) refinance certain indebtedness.  This tax-exempt financing process has enabled the Foundation to operate more effectively by financing its capital expenses at a low interest rate.

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 their capital improvement and expansion needs.

Website: www.uwplatt.edu/building/roundtree-commons