The Washington Higher Education Facilities Authority ("WHEFA" or "the Authority") is a state agency created in 1983 to support the financing needs of Washington's nonprofit, independent colleges, and universities. The state legislature authorized WHEFA to issue tax-exempt bonds on behalf of private nonprofit 501(c)(3) colleges and universities to improve and ensure the quality and range of educational services available to the citizens of Washington.
It is our mission to provide qualified nonprofit colleges, and universities in Washington with access to low cost capital for the expansion and modernization of campus facilities. In doing this work, we strive to follow social justice and anti-racist values in our hiring, board member recruitment, and contracting processes.
The ability to obtain lower interest rates through the sale of tax-exempt bonds has saved our borrowers millions of dollars. The savings ultimately benefit the students of Washington state and support the mission of the institutions.
WHEFA is self supporting through fee revenue for issuing bonds. No taxpayer money pays for WHEFA's programs.
ENABLING LEGISLATION AND RULES
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