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Applying for Financing

The Authority does not have a formal application, but requires all prospective borrowers to submit a written request stating the institution's intent to issue tax-exempt debt through the Authority.  The request should include a description of the project to be financed, and the estimated amount to be financed.  Upon receipt of the request for financing from the institution, CHEFA will send an application letter to be executed by the borrower.

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Bond Issues

The Connecticut Health and Educational Facilities Authority strives to help Connecticut's eligible nonprofits gain access to low-cost tax-exempt debt financing so they can continue to meet the needs of their clients.

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Long-Term Care Facilities

Another very important segment of the health care delivery system in Connecticut includes the services provided to our senior citizens and people with disabilities. CHEFA does provide financing to nursing homes and assisted living facilities, but only to those that are affiliated with or part of an integrated health care delivery system like Mulberry Gardens of Southington (affiliated with The Hospital of Central Connecticut) and Woodlake at Tolland (affiliated with Eastern Connecticut Health Network).

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Independent Schools

Many of Connecticut's private non-profit schools have taken advantage of low cost, tax-exempt financing through one of CHEFA's financing programs. In order to remain competitive, these schools have expanded and improved student housing, auxilliary and educational facilities.

The boards of these schools have recognized that tax-exempt debt can actually help strenghten the balance sheet by leveraging unrestricted net assets rather than using them to fund capital projects. It also allows them to focus their fundraising efforts on endowment growth.

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Human Services Organizations

The Greater Hartford YMCA was the first human service organization to finance through CHEFA. Since then many other human service organizations have used tax-exempt debt issued by CHEFA inlcuding a number of YMCA/YWCA's, adult day care centers, boys & girls clubs, community action agencies, social service agencies and other non-profits providing services to individuals with special needs.

Click here to view our current Human Service Organizations project list.

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Higher Education

CHEFA's original mission was to provide access to tax-exempt debt for private, non-profit higher education insitutions. Since then our mission has been expanded to include all non-profit education insitutions. CHEFA has financed projects for all but a few of Connecticut's private non-profit higher education institutions, the Connecticut State University System and the UCONN Foundation.

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CHEFA has assisted many non-profit 501(c)(3) health care providers in financing new facilities, the purchase of medical equipment and technology upgrades. We have provided financing for acute care hospitals, nursing homes, assisted living facilities, continuing care retirement communities, and other health care providers.

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Cultural Institutions

When The Bushnell Center for the Performing Arts in Hartford was looking to build its new theater, it turned to CHEFA for assistance in assessing debt capacity and in the selection of a financing structure. The Bushnell ultimately decided to utilize tax-exempt debt issued through CHEFA for its capital financing need.

CHEFA and its team of financial experts is ready to assist any qualified non-profit theater, museum, or other cultural organization in meeting their capital financing needs.

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Sectors We Serve

The Connecticut Health and Educational Facilities Authority is a quasi-public state agency created in 1965 to provide access to the tax-exempt bond market for qualified non-profit 501(c)(3) institutions. These institutions include hospitals, nursing homes, continuing care retirement communities, child care facilities, independent schools, colleges and universities (including the Connecticut State University System).

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