“Our intent in obtaining financing for this project was to utilize a number of local financial institutions to obtain tax-exempt financing. The goal was to make this a community project in as many ways as possible. WHEFA was totally instrumental in facilitating the financing and allowing us to achieve this goal.”
-Don Brueggen, Director, Treasury Gundersen Health System, Inc.
This project will create 12 permanent jobs with an annual payroll of $850,000. 45 total jobs will be retained with an annual payroll of $3.6 million.
Take a virtual tour of the new facility site at: http://www.gundersenhealth.org/video/gundersen-news/sparta-clinic-construction-progress
Gundersen Health System, Inc. employs approximately 4,700 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA will help finance the acquisition, construction and equipping of an approximately 35,000 square-foot replacement medical clinic located in Sparta, Wisconsin. This federally tax-exempt financing process has enabled Gundersen Clinic, Ltd. to operate more effectively by financing its capital expenses at a lower interest rate (initially 2.63%).
WHEFA is proud to have been able to assist Gundersen Clinic, Ltd. by reducing their overall debt service and allowing them to grow and compete by providing access to low-cost private capital.
For more information visit our website at www.whefa.com or please contact:
Dennis Reilly | Executive Director
p: 262.792.0466 | e: info@whefa.com
About WHEFA
For over 36 years, WHEFA has been quietly fulfilling its mission of assisting Wisconsin’s non-profit institutions to obtain access to low-cost capital in order to finance or refinance their building and equipment improvements and expansion needs. During this time, WHEFA has issued over $22 billion of federally tax-exempt bonds to provide several hundred Wisconsin non-profit corporations access to private and public capital markets at lower costs than are available to them in the conventional marketplace.
Pursuant to Section 231.10 of the Wisconsin Statutes, bonds issued by WHEFA are not considered indebtedness of the State of Wisconsin, and the State has no obligation to repay any bonds issued by WHEFA under any circumstances. Additionally, WHEFA does not utilize any State moneys to fund its operations.
www.whefa.com |18000 West Sarah Lane, Suite 300, Brookfield, WI 53045 | 262.792.0466