Shelby Academy membership votes 52-10 to keep financially troubled school open
Posted by Scottie Vickery — Birmingham News July 14, 2009 8:39 PM
The membership of the financially troubled Shelby Academy voted 52-10 tonight to keep the school open.
After the board vote, the crowd erupted into cheers.
Shelby Academy’s membership — made up of board members, parents of current students and parents of former students who pay a $100 membership fee — voted.
Mitchell Spears, attorney for the school, said the school is about $576,000 in debt. It owes $376,000 on the mortgage, and the rest is in unsecured debt and salary and wages owed to the staff. He said it would take about $80,000 a month to run the school if it had 100-110 students.
Paige Watson Phillips, who is a member of the alumni association, said before the vote that there were 1,000 alumni ready to help.

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