By Dave Lucas
http://stream.publicbroadcasting.net/production/mp3/wamc/local-wamc-909650.mp3
Albany, NY – When it first opened some 11 years ago, Albany's New Covenant Charter School was heralded as a beacon of educational reform. But time has run out - citing "poor performance" New Covenant was ordered closed by the State University of New York Board of Trustees in April, after it failed to meet testing and financial benchmarks. In its last weeks, the school has reportedly been in "a downward spiral" - New York State United Teachers president Dick Ianuzzi accused the management company running the school of abandoning its obligation to the workforce. Officials with Victory Schools of New York did not return calls for comment.
With the closure of New Covenant, bondholders will be left with an empty building and a $15 million dollar mortgage in an inner-city neighborhood pockmarked with boarded-up buildings. 400 city students will return to district schools in September. A lawsuit is to be filed against SUNY on Monday, seeking a restraining order to restore the school's charter, arguing that the decision to close New Covenant was based on criteria that has never been applied to any other charter school in the state.