Friday, May 07, 2010
New Market Tax Credits, or How to Shake the "Public" Education Money Tree
Be sure not to miss Juan Gonzalez's excellent reporting on the use of New Market Tax Credits by charter school construction companies (DemocracyNow! and Daily News).
And, since I just can't resist leaving this out, it should be noted that Dennis Bakke and his crew of cronies at the Imagine Schools teamed up with Citi Community Capital to bring a new school to the DC area using NMTCs. Cha-ching!
Green Dot and KIPP took advantage of NMTCs in California, but the company they used, ExED, is merely a non-profit lubing the finances for their hostile takeover of public education. Certain people know how to shake the money tree - but they'll only put it to use for the privatized version of public schools.