The Seattle School Board has turned down an opportunity to acquire a vacant Federal Reserve building in downtown Seattle.
The building would be free, but there would be strings attached.
It would cost an estimated $53 million to renovate the building, and the district would have to do so within three years.
Downtown residents who want an elementary school close to home argued that it was too good an opportunity to pass up.
But board members said in order to finance the renovation the district would have to take out loans without a public vote, in violation of board policy.
They pointed out that there is still space available at schools in neighborhoods close to downtown.
And that while a downtown school is a good idea, the district doesn't have the money for this particular project.
