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Metropolitan DC Local Politics
Reply to "DC council giving away DCPS property to Lab School"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Why is Lab paying only 80,000/year to rent a building on a 50,000 square foot lot? There are houses on 7,000 square foot lots that go for a similar amount of rent per year in the private market...and they get to deduct rent for each dollar they pay in renovations? That's a sweetheart deal for a school that charges DCPS 45k per year per student they accept.[/quote] The rent is set so that Lab never pays anything. They've already said they're going to put $2 million into the property. They get to deduct dollar for dollar their capital improvements. So their net rent for the first twenty-five years is ... zero. Economically, it's indistinguishable from a give-away. In fact, you could argue that a lease where you don't have to pay anything is better than being given the property, because you're shielded from some liability.[/quote]darn, tis really is giving the DC taxpayer the shaft....[/quote]
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