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As published in Toledo Business Journal - September 1, 2020
In late June, the Toledo-Lucas County Port Authority (TLCPA) closed on a $4.25 million, tax-exempt, 30-year bond transaction for Health Partners of Western Ohio (HPWO). HPWO is an independent, non-profit, community-directed organization serving low income and medically under-served communities based out of Lima.
The interest rate for this deal was 3.25%, noted TLCPA, and its financing will assist HPWO with expanding its presence in the Toledo area, as the bond proceeds are being used to purchase and renovate a 21,942 square foot building in the Old West End neighborhood. A total of 53 jobs will be created with the establishment of the new facility. The interest rate for this deal was 3.25%, noted TLCPA.
Janis Sunderhaus, CEO, HPWO, said, “Health Partners is thrilled that during the COVID-19 crisis, when we are all concerned with our day-to-day lives, the Toledo-Lucas County Port Authority is looking to the future. The bond funding will help to establish the Old West End Community Health Center, which will provide essential medical, dental, behavioral health, drug treatment, and pharmacy services that will help keep our community healthy so we can weather a crisis like the pandemic easier in the future. This partnership has helped to make our dream a reality sooner and we are excited about the impact this site will make in Toledo.”
HPWO, which opened its first facility in Lima in 2003, now has 18 sites throughout the region. According to Sunderhaus, the organization aims to be a one-stop shop for primary care.
“Our goal is to have 98% of all your primary care needs able to be taken care of in our buildings. We want everyone to be healthy, and they need to have a regular source of care.”
Sunderhaus noted that, typically, if people don’t have an established place to receive care, they go to the emergency room and are more reactive instead of preventative.
“We know the emergency room is a great place if you have a broken leg, are in a car accident, or if you’re having a heart attack, but it’s not a great place to have high blood pressure or diabetes taken care of, or a sore throat – all of those kinds of things. So if people don’t have an established place to go, when they get sick, they have to make a decision and maybe go to the emergency room,” explained Sunderhaus. “We know the emergency room is about 10 times more expensive to get the same care done than in primary care. So what happens is when people just use the emergency room, they never have anyone talk to them about prevention. So they’re not getting colonoscopies, they’re not getting mammograms, etc. They’re not getting people to talk to them about smoking or weight reduction. And so all of their healthcare tends to be on the reactive side, which we know is much more expensive.”
Sunderhaus noted that HPWO tries to prevent that by establishing itself in the community, providing a place to for people to visit for primary care and other needs, and then stay preventative.
“What we do is we take care of the needs that they present us with. And then we say, ‘Hey, we need you to come back in a couple of weeks cause you need a pap test’ or ‘We need to get you into our dentist. You haven’t had your teeth cleaned.’ And so our goal is to move people from that reactive kind of care into a prevention and wellness sort of style. So we can give a lot more care to people that really meets their needs. It’s planned – and that really helps them understand their health and stay healthy for longer,” said Sunderhaus.
The new facility, located in the Old West End, will be put up for bid in September and will take a year to complete, noted Sunderhaus. HPWO plans to use local craftsmen to renovate the building from top to bottom, and will include waiting rooms, dental exam rooms, medical rooms, and a pharmacy.
“We’re excited to be in the neighborhood and it’s right down from Scott High School, which is where we have one of our school-based health centers. It’s great that we’ll be able to take care of the kids while they’re in school and then their parents and their family members will also have a place to go,” said Sunderhaus.
She went on to explain that the financing from TLCPA helped get HPWO about two or three years ahead of where it would have been.
“You know, I always say we always are going to be able to do what we need to do for communities, but the financing probably got us two or three years ahead of where we would have been. And if you think about two or three years, that could be 2,000-3,000 people’s lives we save,” said Sunderhaus. “We could’ve done a project in a couple of years and we could’ve saved our money, but that’s thousands of people whose lives we wouldn’t have touched. So I presented our mission, our vision, and how we want to be a part of the community to the Port Authority, and they were great to work with. They understood how we fit into the needs of the community, and it was really very seamless.”
According to Sunderhaus, this is the first time she has entered into a bond deal, but TLCPA made it very easy.
“It was a little bit scary at first, as I’m an old public health nurse who raised up through the organization to be the CEO. With that, the Port Authority made it very easy. They explained it to me and walked me through it. Instead of it being extremely intimidating, it was really quite a smooth process. The deal got us good financing, but it also locked in a rate for 30 years. So in five years, we won’t have a big balloon payment, so that makes it easier sleeping at night,” said Sunderhaus.
“It’s nice to be able to work with a group of people that are committed to the community and who are committed to improving the community. I would encourage people to look around and look at your options. With a bond, it’s a little bit more complex, but I think it’s well worth it, and I would encourage people to take a look at it,” Sunderhaus continued.
“We’re excited to be able to hire local people for the construction project and we’re very much looking forward to hiring and getting ready to open services around this time next year.
