Is the City of Santa Fe at risk if things go wrong?
Throughout the negotiations city staff has worked to limit any risk to the City. In keeping the college operating and by providing for upgrades of the college buildings and infrastructure, the City will gain economic development and eliminate the risk of the property falling into disrepair. Staff has done extensive work to see if Laureate can make lease payments and has determined Laureate will be able to pay regularly. Just in case, a reserve fund has been set up, which can cover rent payments for a full year.
