Tolleson School District has agreed to a lease-purchase deal with Isaac School District, providing Isaac with much-needed financial relief. As part of the agreement, Tolleson will purchase Isaac Middle School for $25 million and then lease it back to Isaac. The sale comes at a critical time as Isaac is facing negative cash balances in the $20 million range.
The TUHSD board voted in favor of the deal, with one member abstaining, while the Isaac board unanimously approved the sale of the middle school. Isaac will have 12 years to repay the total amount at a 6% interest rate.
This development allows Isaac to continue functioning and work towards financial stability. The story is still developing, and updates will be provided. If you have any story ideas or tips, please share them with the KTAR News team.
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