Asumag 2565 Money Holding

Philadelphia district gets $100 million offer for 30 closed buildings

Oct. 28, 2013
District is hesitant about selling so many buildings to one entity

A real estate investment firm has offered to buy more than 30 shuttered buildings from the School District of Philadelphia for $100 million. The Philadelphia Inquirer says district officials aren't comfortable with selling to one buyer and cutting out public input over the fate of the buildings, many of which are landmarks in their neighborhoods. City Council President Darrell L. Clarke wants the district to consider the offer more seriously, saying it needed to explore creative ways to close its huge budget shortfall.

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