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.
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.
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.