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Ohio Taxpayers Charged $7.7 Million to Renovate Charter-School Building Valued at $2.4 Million, by Diane Ravitch

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Do Ohio taxpayers care what happens to their money? As so often with the charter school, the only profit is to the privateers and hedge funds, not to the  children!  Imagine Schools, a for-profit Charter chain, bought an appliance store in a building valued last year at $2.4 Million. It renovated and passed the bill to Ohio taxpayers for $7.7 Million, triple the building’s value. Under its finance deal, Great Western Academy had to come up with added lease payments totaling $7.7 million over the past decade at times paying nearly $1 million a year in total rent. THAT is the sweet part of the deal...they RENT  the space, then subleases it to an Imagine school.

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At dianeravitch.net

 

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Susan Lee Schwartz Social Media Pages: Facebook Page       Twitter Page       Linked In Page       Instagram Page

I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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