Yoav Gonen of the New York Post discovered a stunning allocation of public funds in Brooklyn. Gonen reported recently that for-profit National Heritage Academies was leasing buildings and then subletting them at a mark-up of 1,000%, charged to the taxpayers. NHA is leasing a school from the Brooklyn Diocese for $246,000, but charges the city of New York a whopping $2.76 million for rent and related charges.
Nice work if you can get it.
That extra $2.3 million could pay the salaries of quite a few teachers and reduce class size for many children. Instead it will fatten the profits of a charter corporation.