Mamie Till Mobley

"There was an important mission for me, to shape so many...young minds as a teacher. God took away one child but...(gave) me thousands. And I have been grateful for the blessing." Mamie Till Mobley

Thursday, October 25, 2012

Global concepts charter school, what a deal!

A company  paid $35,000 for a vacant Lackawanna School District building leased it to Global Concepts Charter school for over $2 million with an option to buy it that would have cost them over $5 million.That's a deal! 

Annual lease payments started at $260,000 in the first year until reaching $480,000 for 2013-14. After five years, Global Concepts can exercise an option to buy the building for $2.9 million. State auditors found that by the time the school can buy the building, it would have already paid more than $2 million toward the lease, plus about $200,000 in taxes. Once those costs are added to the purchase price, the school would pay $5.1 million in those five years for the building, auditors said.

Published with Blogger-droid v2.0.4

No comments:

Post a Comment

Whitney Tilson (3rd background)

Whitney Tilson (3rd background)
"Let’s be honest: we need a lot more well-off, well-educated white folks with a personal stake in both charter schools and education reform in general if we’re going to take reform to the next level, both politically and operationally.Whitney Tilson, hedge fund manager and major funding angel for the school privatizing Democrats for Education Reform, thinks there’s not enough rich, educated white folks.( Preaprez) click photo to his blog.

Arne Duncan

Arne Duncan
U.S. Secretary of Education, click photo