"The city is now spending more than $100 million a year to pay the rent for charters This includes about $14.8 million since FY 2015 for eight charter schools whose CMO or related parties own the building. This even though Charter students are 4% of the state’s students, and 10% in the City. Size Matters released a report on the cost that NYC pays for charter school facilities, even for richly endowed charters like Success Academy.This includes almost $15 million a year paying for rent where the charter or its management organization is the landlord! In 2010, Gov. Andrew Cuomo advanced legislation that required NYC to pay the rent for charter schools in private buildings when the city was unable to provide suitable space in public school buildings. At the time, he declared himself the champion of charter schools, which helped him raise campaign funds on Wall Street.
At dianeravitch.net
