At any rate, the first thing that comes to mind is why not build the puppets?  You may have someone in your community that might like the project, perhaps someone not associated with your theatre.  It may be an opportunity to draw others into theatre and further the involvement of the community.

 

We had someone that did a great job for us making muppet-like puppets.  I had no idea that a "regular" person could make such things.  She was not involved in theatre.  She was a "crafter" (ie person who does crafts).  She thought it would be a good challenge and a fun project.  They came out great!

 

Now she is involved in theatre as a prop builder.  She's doesn't want to do props as far as working the production, but loves building them.  What an asset!

 

Maybe you can find such a person and then get in-kind donations from a craft store.