I understand that the lease certificate funds can’t be used for another purpose, but they represent D65 borrowing capacity (ie debt) that could have been leveraged for another purpose by another means and in any case will have to be repaid with real dollars. It’s not like this is a gift that we can only use for one thing and it’s “use it…
I understand that the lease certificate funds can’t be used for another purpose, but they represent D65 borrowing capacity (ie debt) that could have been leveraged for another purpose by another means and in any case will have to be repaid with real dollars. It’s not like this is a gift that we can only use for one thing and it’s “use it or lose it”. They are positioning it that way to say that we are pot-committed to the new school.
They were pot committed when they borrowed $40M without having a budget or plans in hand and without having verified that there was in fact $3.25 million in transportation savings to pay for it. Short term result is that the pain of all that much worse. Long term result is that there will be an entire generation of kids in D65 who will have $ 3.25 million less in resources available to them as we pay for Foster School out of operating funds.
Only the pot committed would think this is a good idea.
I understand that the lease certificate funds can’t be used for another purpose, but they represent D65 borrowing capacity (ie debt) that could have been leveraged for another purpose by another means and in any case will have to be repaid with real dollars. It’s not like this is a gift that we can only use for one thing and it’s “use it or lose it”. They are positioning it that way to say that we are pot-committed to the new school.
They were pot committed when they borrowed $40M without having a budget or plans in hand and without having verified that there was in fact $3.25 million in transportation savings to pay for it. Short term result is that the pain of all that much worse. Long term result is that there will be an entire generation of kids in D65 who will have $ 3.25 million less in resources available to them as we pay for Foster School out of operating funds.
Only the pot committed would think this is a good idea.
Sometimes you get dealt an 8❤️ and 4♠️ and you're just like "fuck it, lets give it a shot, I'll raise you $40 million"