John Cairns Sole MBR

Wfcs leases properties to seven charter schools and one supporting organization that supports charter schools and at the end of the bond term, it will transfer fee simple title of the leased property to the leasing charter school. In effect, the separate charter schools are acquiring their school sites. This structure reduces the transaction costs associated with having each charter school obtain separate financing, which is often prohibitively expensive. It also enables charter schools to have something that is both a frequent impediment to their mission and a significant benefit: permanency.