One of the foreclosures being advertised for sale next month is for Cherokee County's largest secular private school.
Parents of the school's 325 pre kindergarten through 12th grade students were notified of the decision on Thursday, he said.
One, he said, is Cherokee Charter Academy, which recently was approved to be Cherokee's first public charter school. Officials with Charter Schools USA, which plans to open a school in the "Holly Springs area" in August, didn't return calls for comment.
Manufacturers and Traders Trust and Company is foreclosing on the 13.24 acre campus including all facilities, according to attorney David McAlister of the Atlanta law firm of Arnall Golden Gregory LLP, which is representing the lender.
The school is looking at two options for relocation sites, both of which are in Cherokee and not very far from the current campus. Both would require some interior construction work to be used for the academy, he said, noting one site is preferred as it's both newer and nearer.
"The relocation will impact everyone. This is our second home," Nikkhoo said, adding that the change in the end will be better for its current and future families. "We want them to bank on being with us for years to come."
The academy's current campus also may soon have a tenant, Nikkhoo said, noting the lender is in talks with several prospects.
The lender, he said, has been "very supportive," but there was no way Nike Air Max 95 Blue Grey
"We want to stay as close as we can to our location," he said, adding a letter of intent Nike Air Max 95 Womens Pink
in the current economy the school could raise $12 million through donors nor could he ask parents to share such a cost.
has been signed.
But the leadership of American Heritage Academy on Sixes Road south of Canton calls the news a "blessing," as it faces $12 million in debt and a facility now too large for its enrollment.
Cherokee private school set for foreclosure sale
The school's development director, Dr. Parviz Nikkhoo, said foreclosure was the best option for the lender and for the school in order to continue serving students.
The campus, with an assessed value of $14.4 million according to county records, includes the 75,881 square foot main building built in 1999 and the 24,545 square foot multi purpose building and gym added in 2008.
Not only would the move Air Max Kumquat relieve the school of the $12 million debt, it also would permit a move to a smaller space more "suitable for our needs" and cost efficient as far as utility usage.
start of the year has been the best since the economic downturn began, Nikkhoo added.
The school has seen its population decline by several hundred students, but enrollment interest since the Air Max 95 V Sp Patch
"It's a blessing to be able to relocate somewhere else," he said.
"The holder of the bond will get the short end of the stick," Day said, adding it was "a shame" the school faced foreclosure.
The lender also is talking with at least one university, Nikkhoo said.
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