Tuesday, March 21, 2006

Geneva Partners update

DC asked Geneva Partners to return the charter school money they invested with the company; Geneva Partners said "give us more time."
A Maryland investment firm entrusted with more than $21 million in District and federal funds earmarked for D.C. charter schools missed a deadline yesterday to return the money and was asking for more time to come up with it, city officials said.

"As of close of business today, no money has been paid and the parties are negotiating," said Traci Hughes, a spokeswoman for D.C. Attorney General Robert J. Spagnoletti.
Now the feds are getting involved. Senator Sam Brownback (R-Kan. DC subcommittee chair) wants to meet with District officials about the matter, and Senator Mary Landrieu (D-La.), a supporter of the District's charter schools, is none too happy either.

In related news Mark Lerner has a post up about the work Geneva did in helping the WEDJ school find and finance their facilities.

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