http://www.azcentral.com/arizonarepublic/news/articles/2008/08/03/20080803bts-squeeze0803.html
Many of Arizona's 455 public charter schools are feeling the effects of a slowing economy, with costs of supplies and services increasing, borrowing costs rising, and contractors unable to complete school building projects. Great Hearts Academies in Chandler is planning two new buildings. While construction costs went down because contractors are no longer as busy building homes, financing costs are rising. Legacy Traditional School in Maricopa will be forced to house its students in temporary buildings all year because a construction firm failed to get funding to finish a school building it had planned to lease. Costs are also increasing in many areas. Schools are trying to preserve as much as possible. For the most part, they have avoided increasing class size and cutting teacher pay, though school leaders recognize those measures are more likely next year if the economy does not improve.
Source: The Arizona Republic
Date: 08/03/2008
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