Pacific Northwest University of Health Sciences to expand campus - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Pacific Northwest University of Health Sciences to expand campus using tax-exempt bonds

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YAKIMA, WA – Thanks to tax-exempt bonds issued by the Washington Higher Education Facilities Authority (WHEFA), Pacific Northwest University of Health Sciences (PNWU) will add a new two-story building of classrooms and other academic spaces to its Yakima campus.

In addition to using $7.75 million from the bond issue to finance the new 35,000-square-foot building, the nonprofit university will also refinance prior obligations to save an estimated $3.58 million in interest over the life of the bond on a present-value basis.

“We are honored and pleased to partner with the Washington Higher Education Facilities Authority, US Bank and Homestreet Bank,” said Dr. Keith Watson, PNWU president. “This action allows us to enjoy more favorable interest rates and supports our overall fiscal health.”

PNWU, a nonprofit, fully accredited university focused on osteopathic medicine, was founded in 2005. Its campus now hosts nearly 500 students at any given time.

“We are very proud to be a part of the team that has provided tax-exempt bond financing to Pacific Northwest University of Health Sciences,” said Jerome Cohen, WHEFA board secretary. “The interest savings generated by these tax-exempt bonds will go a long way towards helping the University fulfill its mission of educating health-care professionals who will practice in rural and underserved communities.

“It is an honor to support PNWU in their work and to play a part in advancing higher education in the State of Washington,” he added. 

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