Lease-Leaseback Construction
From May 2006
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The Sudden School
By Jennifer Teel WolterInnovative and exciting is hardly a description befitting most Sacramento public-school facilities, much less the arduous task of building them. Parents complain of overcrowded classrooms, outdated cafeterias and downright embarrassing recreational facilities, and they’re the lucky ones. For many students in Sacramento’s poorest neighborhoods, the broken windows, leaky roofs and shattered mirrors in perpetually flooded restrooms are more reminiscent of a third-world country than a place of learning.
Recognizing that drafty classrooms and crumbling ceilings don’t exactly inspire students to learn, school districts are constantly looking to upgrade or construct new facilities. But inadequate funding options and a complex construction process often leave district officials’ hands tied and therefore unable to do much better.
A groundbreaking way of building schools could change all that. Known as the lease-leaseback method, the
private-public partnerships bring school districts and developers together in a cooperative agreement that turns typical school construction on its head.
Less Hassle, Lower Price
Continued...
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