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Bethany Lutheran Homes

$46,930,000 Construction and Refinancing July 18, 2018

“WHEFA provides an efficient way for nonprofit organizations to
finance projects with tax-exempt bonds. The lower cost of tax-
exempt financing allows Bethany Lutheran Homes to grow our
mission of providing quality housing and care services to seniors

in our community. We truly appreciate the expertise and
professionalism of the WHEFA staff.”

- Todd Garves, Chief Financial Officer
Bethany Lutheran Homes, Inc.

50 Jobs Created ▪ 150 Construction Jobs Created ▪ 350 FTE’s

FIRST TIME Chiara Communities

$161,430,000 WHEFA Acquisition July 31, 2018

BORROWER
“Chiara’s 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.”
▪ 300 Employees in Wisconsin ▪
- Glen Choban, Board Chairman,
Chiara Communities, Inc.
(previously known as Covenant Communities)

40 Years of WHEFA History

1987 Statute Expansion College
First

Financing
The Authority's name changes to
the Wisconsin Health and
Educational Facilities Authority $3,000,000 for Carroll College
(WHEFA) to reflect statute change in Waukesha.
to include the ability to finance
higher educational facilities.

1989

WHEFA 2019 Annual Report 15