Mayor David Coss and Laureate Education Inc. took their pitch for the future of the College of Santa Fe campus to the public on Tuesday.

The City Council is about a week away from deciding whether to incur up to $30 million in debt to buy the campus, then lease most of its buildings and property to Laureate to run an arts school. The rent — $2.35 million per year — would be enough to pay off the city's debt.

On Tuesday, Coss and Laureate representatives discussed the plan with about 60 people at the Greer Garson Theatre and answered questions.

Audience members asked about assurances that Laureate would not back out of the deal, leaving the city with millions in debt.

"We will have a $20 million commitment from Laureate," Coss said, explaining that money is intended to cover operating losses and ensure that the rent is paid. If Laureate pulls out of the lease before it expires, he said, the city gets the balance of the money.

"As mayor and as citizens, I don't think we wanted to lose the College of Santa Fe," Coss said about what prompted city officials to undertake the plan.

Coss outlined where money would come from and where it would go. The city expects to raise $41.5 million from a loan from the New Mexico Finance Authority, proceeds from selling some of the campus to the state, a contribution from Gov. Bill Richardson's discretionary state funds and from a federal grant.

It would spend $19.5 million buying the campus, use another $15 million for capital improvements and set aside about $5 million in reserve for infrastructure costs and rent.

Larry Hinz, vice president of development for Laureate, also told the crowd about the company's intention to continue many of the College of Santa Fe's art programs while "looking strategically" at expanding those programs.

Starting this fall, the group intends to offer art, design, photography, fine arts, creative writing, moving image arts and theater programs.

Eventually, Hinz said, Laureate might expand offerings to include architecture, culinary arts and hospitality.

Someone else asked about future governance. Hinz said the school would be managed by a nine-member board. Six members would be independent, while three would represent Laureate, Hinz said.

Despite the presentations, some attendees still had questions.

"I didn't think the presentation was long enough," said Lydia Ortiz, a graduate of the college. She said she still had concerns about financing the project, but was in favor of it.

John Greenspan, who asked Hinz about Laureate's business plan only to be told it was proprietary, said he felt that even if the public can't see the plan, the City Council should see it before voting. "We'd feel a little better if we saw that," Greenspan said.

Among the several former college faculty at the open house was Valerie Martinez, the city's poet laureate.

She said she spoken to Laureate representatives earlier in the day and was impressed with their intentions to make the college accessible to local students through some financial aid and scholarships, as well as their plan to hire local staff.

The city has scheduled a second open house, from 4-7 p.m. Tuesday, also at the Greer Garson Theatre.

Contact John Sena at 986-3079 or jsena@sfnewmexican.com.