Fundraising group plans to support 50 new charter schools in Chicago
Speaking of Duncan, great news from his home town of Chicago:
The Renaissance Schools Fund, which for the last six years has poured enough startup money into new charter schools to triple their number in the Chicago Public Schools system, has announced a new $60 million venture fund to add 50 more charter schools.
Unlike the previous initiative launched in 2004 to raise funds aimed at closing failing schools and opening new ones, this time the fund will focus on replicating successful charters in Chicago and bringing in high-performing charter schools from out of state.
The group also plans to drop Mayor Richard Daley's "Renaissance" moniker and take on a new name: New Schools for Chicago. The executives estimate the charters promoted through both funds will serve about 20 percent of the district in the next five years, an effort that they said has been met with enthusiasm by Mayor-elect Rahm Emanuel.