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El Cerrito Private School Fights to Stay Open
By:
Ja'Mein Beale
-
Fri, 04 May 2012 09:17:34 -0800
EL CERRITO, Calif. (AP) - A private school in El Cerrito is fighting to keep its doors open through the end of the school year.
A judge is expected to decide the fate of the K-8 Windrush School on Friday.
The school defaulted on a $13 million loan, and the bank had threatened to seize it and shut it down in October. Parents responded by raising nearly $1 million, providing enough money to reach a settlement to keep the school open for the remainder of the year.
But the bank, Wells Fargo, now says school administrators violated the settlement agreement by overspending on staff salaries - an accusation the school denies. According to reports, the bank is threatening to close the school three weeks early on May 17.
(Copyright 2012 by The Associated Press. All Rights Reserved.)
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