Charter Schools Will Face Deficits if Forced to Pay Rent
Charter school operators are crunching the numbers to see how a potential Mayor Bill de Blasio would impact their bottom line. The results are not pretty.
According to the New York Post, charter school operators are looking at hundreds of thousands or millions of dollars in new expenses each school year if they are forced to pay rent.
An example from Public Prep charter schools in Manhattan and the Bronx:
Public Prep, which operates three all-girls charters schools on the Lower East Side and in the South Bronx, said rent could add $1.5 million in new expense to its $14 million budget - an increase of more than 10 percent.
"If we're charged rent, the impact would be on the families. Either we're closing or we're significantly reducing our academic programs - art, science and music, which we think is crucial to a well-rounded education," said executive director Ian Rowe. "It's not well thought out."