What is the financing structure?
This is still to be determined.
Will increment financing be used?
This is still to be determined.
We thought the campus wasn’t going to cost the town or the residents of Payson any money. Why is a fundraising campaign necessary?

Supportive and committed residents of Payson were the first to contribute to the campus initiative. They donated seed money to launch the campus project from the beginning. When the Governor vetoed SB 1497, the financial and legal structures of the campus were dealt a setback. SB 1497, approved by the Arizona State Legislature, codified the ability of a town to create a Separate Legal Entity with an organization other than another municipal government…. in our case, specifically, with a state university. As a result, the legal structure became more costly to establish. Additionally, due to the delay created by the veto, interest rates that we had locked in with the investment organization, more than a year prior, doubled from the historically low rates that we had agreed upon, adding significantly to the interest costs for the project.

Why is a non-profit organization raising money for a for-profit venture?

In addition to ultimately benefiting the youth of Payson, donations to Rim Country Educational Foundation (RCEF) assist the Rim Country Educational Alliance (RCEA) in specific steps that are needed to drive the campus development process forward. RCEA is a non-profit, political subdivision that negotiates agreements and enters into contracts with the various entities that will design, build, and ultimately deliver the educational experience on the campus. Funding is needed to continue pre-development costs for the Forest Service land, such as the required environmental assessment. In addition to ultimately enhancing the educational opportunities for the young people of Payson, donations to RCEF assist the RCEA in specific steps that are needed to drive the campus development process forward.

If we give money to the Foundation and the campus doesn’t happen, what happens to our money?
The Foundation may use funds for only a very narrow range of purposes. These are spelled out in the Foundation’s charter, and they are focused on improving educational opportunities for Payson area youth. The Board of Trustees is in place to insure those beneficial purposes are carried out appropriately.
If we give money to the Foundation, how do we know it doesn’t go to the developer, or turn into a slush fund for miscellaneous expenses?

The Foundation was set up as a separate organization to ensure that donations are used exclusively to improve educational opportunities for Payson area youth. This charter is very narrow, and very specific by design; we want to ensure that funds donated by Payson residents and Payson businesses remain in Payson and benefit the youth of our community.