10/16/2026
"State finance officials on Wednesday approved Newark Public Schools’ nearly $500 million, 30-year lease for a single elementary school, brushing past Republican opposition and warnings of a 'half-billion-dollar debacle.'
"After hearing more than an hour of fiery testimony, six finance board members present voted 4-2 in favor of the lease, despite concerns about the unusually high price for a single K-8 school serving 667 students. State finance officials on Wednesday approved Newark Public Schools’ nearly $500 million, 30-year lease for a single elementary school, brushing past Republican opposition and warnings of a “half-billion-dollar debacle.”
"Twenty Assembly Republicans, led by state Assemblywoman Dawn Fantasia (R-Sussex) and Minority Leader John DiMaio (R-Warren), submitted a joint letter in April to state officials urging them to reject the deal."
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State board board approved $500 million school lease deal in Newark, dismissing Republican lawmakers' opposition.