FOR IMMEDIATE RELEASE
March 9, 2022
Contact: [email protected]
Public Finance Authority Helps to Expand Searstone Retirement Community
with The Highview at Searstone
March 9- The Public Finance Authority is pleased to announce that financing is completed for the Samaritan Housing Foundation, Inc. to expand its existing community with the addition of The Highview at Searstone. Application material notes that PFA’s financing assistance will expand this senior living community by adding 152 independent living units, 29 assisted living units with 14 that will be specialized memory care units, 24 skilled nursing suites, several new dining venues, green spaces, a multi purpose area and an underground parking garage.
According to the Searstone website, ”Our independent living community is based on the belief that you can create the life you want for yourself in retirement. It’s why we’ve made it our mission to constantly deliver new and exciting opportunities to put this into action in every aspect of life at Searstone.” Searstone also provides health resources such as assisted living, skilled nursing and memory support.
“The Highview project at Searstone Retirement Community is an incredible example of the public benefit projects that receive financing assistance from PFA,” said Mark O’Connell, president and CEO of Wisconsin Counties Association, a founding sponsor organization of PFA. “It is wonderful to hear about the independent living and healthcare expansion project at this non-profit retirement community that will provide new enhancements and expanded healthcare access for its residents.”
PFA partners with local governments to assist in the financing of public benefit projects that create temporary and permanent jobs, affordable housing, community infrastructure and improve the overall quality of life in local communities. In 2021, the Public Finance Authority celebrated more than 10 years assisting in financing public benefit projects that provide local economic development, create jobs, produce state and local tax base, and meet needs of eligible borrowers which state or local issuing authorities may not be able to serve.
PFA was established by Local Government. For Local Government.™, in order to provide local governments and eligible private entities nationwide with access to low-cost, tax-exempt and other financing for projects that are important to the community and contain no risk to the taxpayer. PFA is jointly sponsored by the National Association of Counties, National League of Cities, Wisconsin Counties Association and League of Wisconsin Municipalities.