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Arcadia proposes donated office complex, $4M startup fundraising and contingency steps to TEA
Summary
Arcadia told TEA its founders secured a rent‑free donated building (about 90,000 sq ft), seek $4 million in startup fundraising, and have budgeting contingencies if enrollment falls short; applicants budget a $1.8 million renovation and a 20‑year lease/purchase arrangement.
Arcadia Schools’ founders told Texas Education Agency interviewers on May 7 that a local entity identified in their application has donated two buildings for the proposed Arcadia High School and that the applicants expect a rent‑free facility with a long‑term agreement and modest cosmetic renovations.
The applicant team said the donated site comprises roughly 90,000 square feet (about 20,000 square feet per floor) and includes 14 large spaces with adjacent smaller rooms that align with Arcadia’s planned classroom and breakout configuration. “It is a rent‑free facility,” a board member said, adding the only costs would be operational. Applicants described an agreement that includes a 20‑year term with a purchase option after that period.
On budget and fundraising, applicants said their planning/growth fundraising target is $4,000,000 (approximately $1,000,000 for the planning year and $3,000,000 during the growth years). Eduardo Contreras and…
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