I wonder what my Texas friend Eric thinks of this story?
A north Texas developer created a non profit organization that donates a 1/2% of the sale price to educational efforts in his development, Castle Hills. Most love it, however there are dissenters. One says that most of the proceeds actually benefit affluent families who don't really need it.
A quote from the story: "The fund gives full-time, passing college students $2,000 dollars a year... Over the last 4 years the Castle Hills Schools Foundation has distributed more than a million dollars. The money's gone to 11 schools and college attending residents, while other developers are looking at it. Next year the Schools Foundation will also help Castle Hill's teachers pay tuition for advanced degrees."
A novel idea. Though since I'm completely unfamiliar with the development in question, I wonder if there's anything to the insularity argument. I notice that the money only goes to schools in that one development and perhaps that's not a bad thing, especially since other developers are considering similar initiatives.
This may just be old news to Texans, (even those who live 300 miles and half a state away)--but the story didn't make it to NPR til this morning. I did find an item on PRweb about it, dated March 2005 so I guess it still has some currency.