Atlanta Mayor Kasim Reed had offered the money that would eliminate HBCU Morris Brown College’s $35 million bankruptcy debt to solve its legal problems; however, the trustees of Morris Brown College turned down the offer of nearly $10 million in taxpayer money.
Anne Aaronson, Morris Brown’s lawyer stated, “The city’s offer was insufficient because it covered the college’s debt but didn’t provide operating funds.” She told reporters that the school has a better offer from an unnamed donor and declined any further details on the transactions.
Reed and city officials released a statement sharing that they find it hard to believe that anyone else has offered the money to the school. Reed is disappointed that the trustees declined the money and that their decision puts the future of the HBCU in more financial danger and also postpones the city’s plans to rebuild the area.
