Lions update.Perhaps you heard that Lions World Services for the Blind was backing off from its plans to develop a new campus in downtown Little Rock. That comes as news to Ramona Sangalli, the nonprofit's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The development of the plan has not been as rapid as we had hoped, and we're running behind on launching the capital campaign," she said. Lions World Services intends to raise $31 million to develop all phases of the 10-acre property it has assembled. The big picture remains the same: develop classroom and meeting space along with a dormitory large enough to accommodate 100 in the first phase. The second and third phases would add rooms for 50 more residents each. Capacity at the nonprofit's current campus near the University of Arkansas at Little Rock Established as Little Rock Junior College by the Little Rock School District in 1927, it became a private four-year institution, called Little Rock University, in 1957. It returned to public status in 1969 when it was merged into the University of Arkansas System under its present name. is about 63. Lions World Services intends to sell that 3.7-acre development at 2811 Fair Park Blvd. and is still working to structure a deal to sell the property and lease it back. Interested parties have balked balk v. balked, balk·ing, balks v.intr. 1. To stop short and refuse to go on: The horse balked at the jump. 2. at granting the nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. a buyback Buyback The buying back of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies will buyback shares either to increase the value of shares still available (reducing supply), or to eliminate any threats by shareholders who may provision should its new campus plans come to naught. Boosters hope to kick off the capital campaign before year's end. |
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