The School District has cleared some serious cash from the sale of its vacant buildings -- but it's still not as much as promised.
The George W. Childs Elementary School at 17th andTasker in South Philadelphia once resonated with the sounds of more than 500 students traipsing its halls and reciting their lessons.
The school relocated in 2010, leaving behind a century-old building that's now slated to become a mixed-income housing complex.
Childs is one of 12 former schools the district has sold since 2013. Sales are pending for another 14 properties. These empty buildings have been cast alternately as neighborhood eyesores, reminders of upheaval in the city's education landscape and sources of revenue for a cash-strapped district...
Out of a total $67.6 million in building sales over the last two years, the district netted $42 million after bonds and closing costs.
That disparity is one reason why the district drew fire from public school advocates such as Helen Gym, who questioned whether the district could use "under-utilization" as a rationale for closing school buildings while simultaneously expanding charter schools.
Original source: Newsworks
Read the complete story
here.