DUSD borrows $15 million with COP financing

In some COP agreements, a municipality will give ownership of a property to the nonprofit it is entering into a lease agreement with, and will regain the property title in a lease-to-own format; however, in this case DUSD is not transferring ownership of its property to the nonprofit. Instead, DUSD is using that property as collateral, or assurance that the district will pay back the funds.