A potential new charter school in Lillington could serve elementary and middle school students.
The school’s backers say it will serve families in Harnett County and nearby counties. North Carolina charter schools receive local county current-expense funds as one source of funding, according to EdNC.
ALA Capeton will be managed day-to-day by Charter One, an Arizona-based education management company. The News & Observer’s reporting notes that Charter One will provide start-up funding and marketing support and typically invests up to $30 million to build a new charter school’s facility. In exchange, ALA Capeton will pay the company up to 15% of its annual revenues, more than $1.1 million a year.
Charter School Financing
North Carolina charter schools receive no state funds for capital outlay or building debt service, leaving governing boards dependent on private financing to acquire land and construct facilities, according to the John Locke Foundation. North Carolina law allows charter school boards to contract with for-profit companies. Rita Haire said school leaders need expertise to run operations they lack the knowledge or experience to manage, per the same News & Observer account…