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DC Public and Public Charter Schools
Reply to "One less corrupt Charter school with shady management contracts"
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[quote=Anonymous][quote=Anonymous]Were the buildings former DCPS? [/quote] Yes, but they were actually sold to CAPCS, not leased like the city is doing now. They are likely held as collateral for CAPCS' loans and would be sold in a foreclosure sale if CAPCS declared bankruptcy or was dissolved. PCSB may also try to broker some sort of transfer to a new operator who could take over the loan obligations and the buildings. In that situation the lender would likely be very amenable to that vs. having to go through a foreclosure process.[/quote]
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