Wellpoint Care Network Issues More than $12 Million of Revenue Bonds for Campus Transformation
MILWAUKEE — Wellpoint Care Network, a community-facing human services organization in Milwaukee, has issued $12,500,000 in revenue bonds through the Wisconsin Health and Educational Facilities Authority (WHEFA). WHEFA assists all eligible Wisconsin nonprofit institutions in order to finance or refinance their capital improvements and expansion needs.
Wellpoint Care will be using the tax-exempt bond proceeds to transform its campus, located at 8901 W. Capitol Drive, 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.
“Thank you to WHEFA and our project partners for investing in Wellpoint Care Network’s campus as a community anchor,” said Bill Harrigan, Wellpoint Care Network board member. “This transforms how we will utilize our space to better serve the people in our care, our staff and the citizens of southeast Wisconsin. Access to lower-cost financing allows us to implement our campus plan in a shorter time frame than using traditional financing.”
The project includes the remodeling of space dedicated to providing mental health services and creating a welcoming, trauma-informed space for neighbors and community members to gather.
It is estimated that this project will impact 7,800 individuals annually, including 1,500 children, youth and adults who will access mental health services through our clinic, regardless of income, insurance, or ability to pay.
“Our deep commitment to engage and serve the community creates the vision for this rejuvenated campus in our longtime Milwaukee neighborhood,” said Ann Leinfelder Grove, President and CEO of Wellpoint Care Network. “It will be a place for creating connection; for citizens to receive quality mental health care and vital social services, for neighbors to attend a community meeting or tend a plot in the community garden and for our dedicated employees to experience a bright and modern workspace for their efforts to support children and families to thrive.”
Wellpoint Care Network would like to thank the following partners who helped secure this funding: WHEFA, Johnson Financial Group, Baird, Quarles & Brady, MWH Law Group, Mallery s.c. and U.S. Bank.
The $12,500,000 in WHEFA revenue bonds is just part of the funding needed for Wellpoint Care’s campus transformation project. The organization plans to launch a “Campaign for Community Connection” in the near future.
The transformation of the historic, 18-acre campus located on Milwaukee’s northwest side is a multi-year project that will continue to engage members of the community, community partners and funders in order to create a vibrant neighborhood anchor where children and families can thrive.