Slow and Steady Wins the Race
April 25th, 2010
Progress is being made toward building a New Campus on our property next door to the South Mountain YMCA, Jesse Owens Parkway and Olympic Drive. It is slow and steady.
As many of you know, the land for our New Campus was purchased last year and the City of Phoenix Planning and Zoning Department has approved the architectural plans for the site. We are ‘shovel ready’. Our big hurdle now is completing the financing process. Since conventional loans ‘dried up’ with the downturn in the economy, we have been diligently working on Public or Bond Financing with William Gelm of Buchalter Nemer, a firm that specializes in working with Charter Schools. We are currently working with Mr. Gelm to prepare the documents for the offering.
The City of Phoenix Industrial Development Authority invited us to meet with them and they are very interested in issuing the Bond for our project. They believe in and support our School and the neighborhood we plan to serve.
For this kind of Public Project, there are three ‘players’: The School, the Municipality and the Investors. It is more complicated than conventional financing, but has some advantages in that it will fund 100% of the project.
Since we cannot predict the exact amount of time this process will take, we are moving forward and making plans for the upcoming School Year based on the facility we have, our Main Campus at 1313 N. 2nd St. for 3-8th grades and our New South Mountain Campus at 449 East Southern that will serve K-2 grades. We learned our lesson this year and will not make plans based on promises that may turn out to be false.
We thank ALL of you for your suggestions, feedback, patience and loyalty to our programs. We are striving to improve our communication with parents through our NEWS BLOG, Emails, Google Calendars, Facebook, Twitter and our Office and Cell Phones.
Please let us hear from you,
Sincerely,
Carolyn Sawyer MA
csawyer@championschools.org
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Slow and Steady Wins the Race
Update on New Campus Build
Progress is being made toward building a New Campus on our property next door to the South Mountain YMCA, Jesse Owens Parkway and Olympic Drive. It is slow and steady.
As many of you know, the land for our New Campus was purchased last year and the City of Phoenix Planning and Zoning Department has approved the architectural plans for the site. We are ‘shovel ready’. Our big hurdle now is completing the financing process. Since conventional loans ‘dried up’ with the downturn in the economy, we have been diligently working on Public or Bond Financing with William Gelm of Buchalter Nemer, a firm that specializes in working with Charter Schools. We are currently working with Mr. Gelm to prepare the documents for the offering.
The City of Phoenix Industrial Development Authority invited us to meet with them and they are very interested in issuing the Bond for our project. They believe in and support our School and the neighborhood we plan to serve.
For this kind of Public Project, there are three ‘players’: The School, the Municipality and the Investors. It is more complicated than conventional financing, but has some advantages in that it will fund 100% of the project.
Since we cannot predict the exact amount of time this process will take, we are moving forward and making plans for the upcoming School Year based on the facility we have, our Main Campus at 1313 N. 2nd St. for 3-8th grades and our New South Mountain Campus at 449 East Southern that will serve K-2 grades. We learned our lesson this year and will not make plans based on promises that may turn out to be false.
We thank ALL of you for your suggestions, feedback, patience and loyalty to our programs. We are striving to improve our communication with parents through our NEWS BLOG, Emails, Google Calendars, Facebook, Twitter and our Office and Cell Phones.
Please let us hear from you,
Sincerely,
Carolyn Sawyer MA
csawyer@championschools.org