A new study shows that Pittsburgh Public Schools won't be running out of money quite as fast as projected late last year, and is considering selling out-of-use facilities to secure more capital.
According to Bill Zlatos of Trib Live, the educational body has set the sale prices of six closed schools in a bid to raise money for a cash-stricken district. The school district has asked $325,000 for the former Horace Mann School in Marshall-Shadeland, $275,000 for Rogers School in Garfield and $250,000 for Gladstone School in Hazelwood.
The commercial sales and leasing manager of Fourth River development Pat Morsette said, "Given the preliminary interest we've seen today from prospective buyers, we are confident and expect that interest to develop into multiple offers on these properties."
Pittsburgh currently has 19 closed schools. This costs more than $600,000 a year for utilities and custodial work, according to Chief Operations Officer Ron Joseph.
District officials are also thinking of selling vacant building that might help them overcome their financial crisis. The district forecasts a budget deficit of $47 million in 2016, when it will be out of money if it does not change its course.