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.