Ga. School Sold Film Studio at Loss to Taxpayers

9:25 AM, Sep 16, 2013   |    comments
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FAYETTEVILLE, Ga. (AP) - A Georgia school system is selling a school to a film studio at a loss of more than $4 million to taxpayers.

The Atlanta Journal-Constitution reports that Rivers Elementary School in Fayette County never housed more than a few dozen students since the day it opened four years ago.

An investment firm, River's Rock II LLC, is acquiring Rivers Elementary School for $5.17 million. The company is building the American headquarters of British film giant Pinewood Studios. Studio executives plan to use the 86,000-square-foot school for office space.

In the 1980s and 1990s, Fayette schools were adding 1,200 to 1,500 students a year. But when the recession hit and the housing industry collapsed, enrollment in Fayette County schools declined sharply.

 

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