Real Estate Update

UPDATE We are negotiating a lease for a building that will provide a starting home for ICS. The location is accessible to public transportation and the building is well suited for use as a school. We hope to make a public announcement by the end of the month.

ORIGINAL POST 

Just before Christmas the Mayor decided to offer space in city schools to 12 charter schools. In Brooklyn this was mostly in District 15 and 16; no schools in D13 were offered space.

At the same time, State Education Commissioner John King ruled in favor of ICS. He ordered New York City to provide us with a rent subsidy which will amount to several million dollars over the course of our first five years of operations.

King also noted nothing in his order prevents the city from deciding to offer space in a city-owned building to ICS.

A New York City district school

Even if King's decision was unsurprising, it is nice to have the confirmation that we have the funds needed to rent.

Our search for private space continues; we hope to see a proposed lease from one landlord shortly and to look at a few other potential properties in early January.