Wa Econ Develop Finance Authority

The Washington Economic Development Finance Authority (WEDFA) is an independent agency authorized to issue nonrecourse tax-exempt and taxable bonds in support of qualifying projects. There is no governmental financial support, either direct or indirect, for WEDFA bonds. Payment of principal and interest is solely the responsibility of the borrowing company. The ability to borrow at tax-exempt rates makes this type of financing very attractive, however. WEDFA is not supported by government funding; the authority is prohibited by statute from receiving any appropriation of state funds. WEDFA is solely dependent upon fee income derived from its bond issuance programs to pay all its staffing and other operational expenses.