The School District realizes that schools are much more than buildings where children learn to read and write, they are neighborhood anchors serving as informal community centers and physical references. Acknowledging this fact, the School District is considering a new "adaptive reuse" policy to govern the sales of these properties that would in theory put community need ahead of the profit motive.
Unlike the existing policy, where the district's goal is to achieve the maximum market rate value in the sale of property, the proposed new rules would offer discounts of up to 25 percent off the market value for would-be educational buyers, such as a charter school. Non-profits and community service providers- a faith-based charity, or a CDC would be eligible for discounts of up to 15 percent, at the district's discretion. Developers and other private-sector buyers would not be eligible for discounts.
Thomas A. Edison High school is under agreement of sale for $600,000.
For each property it sells, the district intends to solicit a "request for information" from all would-be developers, including non-profits and educational organizations. According to the draft policy, applicants would need to explain their projects, document their capacity to develop the property and show that they have the financial capability to buy and develop the land.
West Philadelphia High School
This post courtesy of PlanPhilly