Our mission is to develop a comprehensive
residential
4-year university in Lake Havasu City.
Thank
you for your support for our university project for Western Arizona.
As you can see from recent news articles in 2009 and 2010 (see
http://www.havasufoundation.com/news.htm )
we are making notable progress on a 4-year residential university on the shores
of Lake Havasu. We firmly believe
our vision will become a reality.
Many area citizens have commented on
how significant this project will be for the economy of our state and our region
in particular. Even though the national economy is severely depressed, this
country has always emerged from such cyclical lows stronger and more
prosperous. Never have we failed to bounce back!
With that knowledge, even though the state legislature has
made dramatic cuts in education, we are confident of a full recovery in the near
future.
As we emerge from the current economic crisis, our Foundation
intends to aggressively position the Lake Havasu university project to address
the higher educational needs of our region and the state at large. To that end,
we are working with a potential
partner and we intend to finalize that process within a few
months. We are moving forward!
We have also confronted the challenges
posed to us over the past several years by developing an extensive business plan
that covers every key financial and operational aspect of this campus.
We now have a scaled-down, better defined vision of the school. We have
also completed an initial Economic & Fiscal Impact Study. Moreover,
we now have a profitable business model that can finance campus construction
without a dime of state tax dollars. For the business plan “must
read” executive summary, see;
http://www.havasufoundation.com/news.htm
This plan also has a cost-to-attend design that could save our
local citizens $9,310 per year compared to the costs of attending one of the
metro area university campuses. For 400 students, that would save resident
students and their families $3.7 million per year. Such cost savings are among the major advantages
of a small-town, small-enrollment, high-quality, 4-year university campus.
Foundation members, many with advanced degrees and highly
specialized skills, have invested 1,900 hours in the development of this
business plan. To have contracted outside for such services would have cost
$800,000.
To help our local experts, we have also secured the assistance
of the Huron Consulting Group, Inc., a
nationally recognized firm specializing in financial, managerial, technical,
legal, industrial, medical, governance, and university services;
http://www.huronconsultinggroup.com/
Huron is assisting with the review of the content and methodology of the
business plan, as well as assisting with the formulation of a major market
demand study. A grant from the PED has made this support possible.
The initial results of the first of dozens of market demand studies are impressive. For example, 84% of over 1,000 local students surveyed have indicated they would attend the Lake Havasu university campus if it were to open soon. Similar results have been recorded in a survey of several California high schools.
We researched several small university models…public and
private…within Arizona and California, including the two 2+2 campuses in
Arizona. We investigated the economics of upper and lower division offerings,
resident and non-resident student mix, management structure, curriculum,
marketing, and student recruitment.
We built statistical tools to extrapolate into the Havasu
campus model, data accurate to the penny for specific numbers of students. Our
plans are well documented, with active links to the sources, and we have shared
the results with the Arizona Board of Regents, legislators, and the three public
universities.
The data we have been analyzing illustrates how a 500 student campus (which would be a miniscule 1/10th of 1% of Arizona university enrollment) will create a $30 million economic impact annually using the Federal Reserve Bank of Boston economic multiplier for universities.
We invite you to explore the many ways you might become
involved in this project. In order
to serve your interest in the HFHE mission, we encourage your questions and
feedback. To that end, please check
the meeting schedule on this home page for the dates, times, and location of our
monthly board meetings. You are invited to attend.
Respectfully,
Steve Greely
Steve Greely
President
Havasu Foundation for Higher Education, Inc.
Email:
steve@kjjjfm.com
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THANKS!
Board Of Directors Meetings
HFHE Board meets on the 3rd Wednesday of each month at the Chamber of Commerce board room.
The business meeting starts at 7 a.m. and ends about 8:15. The public is invited. To see schedule, Click Here.
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Havasu Foundation
735 Little Dr.
Lake Havasu City, Az 86406
Phone: 928-453-2414
Toll Free: 800-345-2414
Fax: 928-453-1186