Washington Charter School Development (WCSD) just closed the first round of a multimillion-dollar Washington Charter School Facility Fund.
The WA Charter School Facility Fund is a new financing model launched by WCSD. The fund will provide loans and charitable grants to support the acquisition and development of long-term affordable facilities for the state’s public charter schools, increasing access to capital for a broader number of schools in under-resourced communities.
“With these funds we look forward to continue supporting our charter school partners in the provision of high-quality public charter facilities in Washington State,” said James Heugas, Executive Director at WCSD.
Why Not You Academy (WNYA), a new charter school located in Des Moines, WA, recently received funding and facility development support from WCSD to open its new high school in August 2021. The WA Charter School Facility Fund will support the expansion of the campus and allow the school to achieve its full target enrollment in a permanent facility.
Scott Canfield, co-founder of WNYA, said “If we didn’t have WCSD, none of it would ever have happened. WCSD’s grant, loan and expertise on property development allowed us to get through construction.”