When it comes to the church there is so much red tape to get things approved. And you need approval from so many different people and committees that it's hard to get things done, even with independent financing in place. President Hinckley was the driving force behind many of the sculptures you see at church historical sites and visitors centers. Several statues of Joseph Smith were erected during Hinckleys tenure, none since that I'm aware of. Very few statues commissioned by the church since Hinckley passed. (Aside from recent 12 apostles in rome)

There has been preliminary discussions about getting lavell memorialized but I don't think it will be approved anytime soon. Edwards family/BYU admin/SLC bureaucracy would all need to see eye to eye. Some higher ups in salt lake just don't like statues.