New Arrangement to Facilitate Campus Land Purchase
Rim Country Educational Alliance (RCEA), the Separate Legal Entity board, passed a resolution today agreeing that the Board will pursue a productive and mutually beneficial relationship with Rim Country Educational Foundation (RCEF). The Foundation exists to provide all necessary support to bring a University Campus to Payson including money for pre-development costs for the campus; site plans; required studies; and capital expenses.
The purpose of the arrangement is to enable both organizations to leverage their respective legal structures, resources, strengths, capabilities, and to move forward in bringing the University Campus to Payson.
The foremost goal is facilitating the purchase of the campus site. Acquisition of the land is the culmination of a five year effort to acquire the targeted US Forest Service property to fulfill the original vision of the project: a university campus in the cool pines of Payson, providing an affordable higher education opportunity in a rural setting.
Additional goals of this arrangement include successful development of the site and completion of negotiations with a University education partner.
RCEF has attracted donations that will fund not only the purchase of the US Forest Service land, but also pay for the archeological mitigation studies that are required by the USFS in order for the sale to close. It’s anticipated that an escrow account will be opened shortly.
The boards of both organizations are to be congratulated on this major step forward.