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By Joe Milicia
Associated Press
POSTED: 04:26 p.m. EST, Dec 02, 2008
CLEVELAND: A financially ailing Ohio school district has joined the ranks of banks and automakers clamoring for a portion of the $700 billion economic bailout package.
Olmsted Falls Superintendent Todd Hoadley said Tuesday that if automakers and cities like Philadelphia, Atlanta and Phoenix can ask for TARP money, schools should be able to follow suit.
"I feel a moral obligation to our taxpayers to make this attempt," said Hoadley, who requested $100 million from the Treasury department last week. "This is a legitimate request. I'll be frankly disappointed if something positive doesn't come out of this."
The district has buckled under rising enrollment and strained finances, with some schools forced to convert maintenance closets into classrooms.
Treasury Secretary Henry Paulson has said the Troubled Asset Relief Program, known as TARP, was meant to stabilize financial institutions. Paulson told Hoadley the same thing when the district submitted the request directly to him last week.
The request was also sent to the Federal Reserve Bank of Cleveland.
But Hoadley isn't giving up — he's also seeking help from Congressman Dennis Kucinich and U.S. Sen. Sherrod Brown in obtaining bailout dollars.
Several school associations were trying to determine whether other districts have sought TARP funding. Miami-Dade Schools chief Alberto Carvalho told The Miami Herald last week that Congress should consider bailing out the nation's schools, but the district didn't apply for funding.
North Olmsted's total enrollment has swelled by 29 percent over the last decade to 3,800 students. The district would spend half of the $100 million in TARP money on building addition and renovation projects, while the other half would go toward operating expenses.
Two local ballot issues seeking additional school funding failed last month.
"We're not looking at this from a bailout standpoint. We don't want to be lumped in with failing corporations," said Hoadley. He noted that North Olmsted has long been one of the state's top-rated school districts.
Hoadley is encouraging other to make similar requests to the Treasury Department.
"Somebody has to be looking long-term," Hoadley said. "The only way we're going to dig ourselves out of this economic hole is investing in education."
So far, the Treasury Department has committed about $270 billion in TARP money for banks and another $40 billion for the insurance company American International Group.
The Treasury Department and the Federal Reserve Bank of Cleveland did not respond to requests for comment.
CLEVELAND: A financially ailing Ohio school district has joined the ranks of banks and automakers clamoring for a portion of the $700 billion economic bailout package.
Olmsted Falls Superintendent Todd Hoadley said Tuesday that if automakers and cities like Philadelphia, Atlanta and Phoenix can ask for TARP money, schools should be able to follow suit.
"I feel a moral obligation to our taxpayers to make this attempt," said Hoadley, who requested $100 million from the Treasury department last week. "This is a legitimate request. I'll be frankly disappointed if something positive doesn't come out of this."
The district has buckled under rising enrollment and strained finances, with some schools forced to convert maintenance closets into classrooms.
Treasury Secretary Henry Paulson has said the Troubled Asset Relief Program, known as TARP, was meant to stabilize financial institutions. Paulson told Hoadley the same thing when the district submitted the request directly to him last week.
The request was also sent to the Federal Reserve Bank of Cleveland.
But Hoadley isn't giving up — he's also seeking help from Congressman Dennis Kucinich and U.S. Sen. Sherrod Brown in obtaining bailout dollars.
Several school associations were trying to determine whether other districts have sought TARP funding. Miami-Dade Schools chief Alberto Carvalho told The Miami Herald last week that Congress should consider bailing out the nation's schools, but the district didn't apply for funding.
North Olmsted's total enrollment has swelled by 29 percent over the last decade to 3,800 students. The district would spend half of the $100 million in TARP money on building addition and renovation projects, while the other half would go toward operating expenses.
Two local ballot issues seeking additional school funding failed last month.
"We're not looking at this from a bailout standpoint. We don't want to be lumped in with failing corporations," said Hoadley. He noted that North Olmsted has long been one of the state's top-rated school districts.
Hoadley is encouraging other to make similar requests to the Treasury Department.
"Somebody has to be looking long-term," Hoadley said. "The only way we're going to dig ourselves out of this economic hole is investing in education."
So far, the Treasury Department has committed about $270 billion in TARP money for banks and another $40 billion for the insurance company American International Group.
The Treasury Department and the Federal Reserve Bank of Cleveland did not respond to requests for comment.
Comments
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Ravenna, OH
Posted 04:50 PM, 12/02/2008
WOW! He's not EVEN in office and the whole country wants to be on the roll of welfare. I realize that keeping people on welfare in exchange for their vote has always been the platform of the democratic party but this is a little excessive.
Seminole, FL
Posted 05:00 PM, 12/02/2008
No Craig....there is an expression "the camel's nose in the tent"; and it started with the decision by several individuals other than Obama....
W., Bernanke, and Paulson started that process, wanting Congress to bail out the banks. This list is going to get much longer and much worse, before it gets better....
Posted 06:18 PM, 12/02/2008
Saw Hoadly on the news saying this idea was creative thinking on his part.
I find him to be pathetic. If the guy were half way smart, he would spend his energy addressing the lack of enforcement of the Ohio Supreme Court's ruling that the way Ohio schools are funded is illegal. The Court has found the way Ohio currently funds their schools unconstitutional 7 times. But in spite of this, things have not changed. This has caused school districts to rely on a school issue on the ballot and hoping it passes. If you really want to get creative Mr. Hoadly, why don't you be a grass roots organizer and get all the schools in ohio together and address this issue in Columbus where it belongs instead instead of holding out your tin cup. Glad you are not the Super in my school district.
Posted 10:43 PM, 12/03/2008
I do so enjoy the commentary of people in these message boards that act like they know all of the answers while hiding behind their keyboard as they wage personal attacks on people and topics that they know nothing about...but, alas, let me just say that Dr. Hoadley IS the superintendent in my district and I can tell you that he is much more than "half way smart"...he is brilliant. He is the hardest working superintendent I have ever known-- Ask around to people who know...Todd Hoadley is widely considered one of the top Superintendents in the entire state of Ohio today. So keep the negative commentary and personal attacks to yourself until you know the all of the facts and the man. I can assure you that our community is VERY glad he's the Superintendent in our school district.
Posted 09:27 PM, 12/04/2008
I've known Dr. Hoadley since he moved to Olmsted Falls and he is a pretty intelligent guy. (Note the "Dr." in front of his name). He has received national press with his request for $100 million in Federal bailout money for the district. Although many have criticized Dr. Hoadley for what seems like a publicity stunt - I salute him for bringing the school funding problems in Ohio and many other states to center stage. Just maybe enough uproar will get school funding laws changed where the State Supreme Court has failed to enforce past mandates.
Mark Madere
akron, oh
Posted 09:44 AM, 12/11/2008
Among the parents I have spoken with, Hoadley is a hero in Olmsted Falls.
Compared to the banking, insurance, and automotive bailouts, Hoadley's plan results in the least amount of golden parachutes and executive golf outings. It's also a whole lot cheaper than the $621 million that was spent on the new Capitol Visitors Center.
The real issue in Olmsted Falls is the tendency of voters to reject levies. Thanks to commuter income taxes and a relative lack of commercial development in Olmsted Falls, we have little choice but to try and tax our residents after they have been taxed elsewhere already. As a result, people vote against local services for themselves after paying for the same services in other municipalities. This is classic "taxation without representation". People who pay commuter income taxes receive nearly nothing in the way of services. They cannot vote on how the money is spent, or how much is collected. Most taxpayers are not well served by this arrangement. Olmsted Falls is an extreme case, but other cities are suffering to varying degrees.
Those who ignore history are condemned to repeat it. Somehow we forgot about "The Boston Tea Party" and here we are facing the modern day equivalent.
I think a municipality's taxation authority should be limited to its own residents. A statewide ballot initiative could bring this problem to a screeching halt. It certainly worked for payday lending.
The issue of federal TARP money for Olmsted Falls would never have existed if the inequities of commuter income tax were not starving the system.
