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A presentation of a financial feasibility study for the new Washington County Fairgrounds has been heard.

Kent Stroman with Stroman & Associates presented the financial feasibility study process for the future Expo Center during the Washington County Budget Board meeting this week. An Expo Center has been a topic of discussion for the public since January 2021. To read more on the topic, click here.

The purpose of the study is to set the groundwork for the capital campaign that will hopefully make the project more of a reality by getting people interested in the Expo Center. The goal is to encourage people to support the project moving forward by making the "finish line" clear.

The following 10 steps are outlined in the Feasibility Study:

1. Preparing the Feasibility Study materials
2. Creating the interviewee invitation packets
3. Mailing the letters / packets
4. Placing a 'heads-up' call to the invitees
5. Scheduling and conducting the interviews
6. Compiling the interviewees' responses
7. Analyzing what the responses mean for the proposed campaign
8. Writing the Feasibility Report - Findings and Recommendations 
9. Presenting the final report to the Board
10. Suggesting the next steps to be taken

Steps 1 and 2 above are collaborative processes. Steps 3 and 4 are the client's responsibility. Steps 5 through 10 are handled by the consultant.

Preparing the Feasibility Study materials consists of refining the initial campaign goals, outlining an appropriate scale of gifts, drafting a campaign case statement, and brainstorming the names of top prospects for donations and volunteer leadership. This step also consists of conducting a three-fold process to rank the prospect list, selecting the prospects to be interviewed, determining the questions to be asked in each interview, and crafting the cover letter that will be sent to each interviewee.

The interviewee invitation packets will consist of the following items:

1. The cover letter (signed by the board chair and executive director)
2. Campaign case statement
3. List of the client's current programs
4. Campaign goals summary
5. List of board members (including their professional affiliations)
6. Proposed floor plans for the new and/or renovated buildings

Mailing the letters / packets will mark the beginning of the interview phase. The person who has the closest relationship with each interviewee (linkage) will leave a brief message, giving an endorsement of the project and asking them to accept the appointment. Two days after the packets are mailed the consultant begins to schedule the interviews. The responsiveness of the interview candidates will determine the speed with which the interview phase of the interview phase of the feasibility study is completed.

The feasibility report is an executive document that identifies those who were interviewed, relays their responses, and makes recommendations for the proposed campaign. The report provides the evidence needed to make wise decisions related to the proposed efforts.

The role of the fundraising counsel is to stand with the client and carefully guide the process. This is to assure that the decisions to be considered are made in a context that is fully informed regarding both the up-side and down-side consequences of each choice.