Providence City Council to consider $14m charter proposal for vacant elementary school building
The
Advertisement
The bigger picture:
Excel Academy started accepting fifth graders from Providence, North Providence, and Central Falls during the 2022-2023 school year, and it already has approval from the Rhode Island Department of Education to eventually grow into a K-12 school.
Get Rhode Map
A weekday briefing from veteran Rhode Island reporters, focused on the things that matter most in the Ocean State.
Enter Email
Sign Up
In other words, the council doesn't have the ability to stop the school from growing; it can just disrupt the process by not allowing the school to lease city-owned property. (Excel has also been in talks with Rhode Island College about using the former
There are 8,206 students from Providence attending charter schools in the current school year, and that number is expected to grow to 9,311 by the 2026-2027 school year. The district lost 2,650 students between 2020 and 2024, although it has ticked up slightly in the current school year.
Advertisement
What's next:
Excel Academy needs space to continue its currently approved growth plan, but it also wants to get a deal done before the 2026 election season begins interfering with everything.
Charter school leaders across the state are also keeping an eye on the changes in the Rhode Island Senate, where newly elected
This story first appeared in Rhode Map, our free newsletter about Rhode Island that also contains information about local events, links to interesting stories, and more. If you'd like to receive it via email Monday through Friday,
.
Dan McGowan can be reached at
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Boston Globe
7 hours ago
- Boston Globe
NCAA settlement will reshape Providence College sports
Even more fundraising, according to Athletic Director Steve Napolillo. The settlement guarantees $2.8 billion in back payments to athletes who competed in college sports between 2016 and now, and Napolillo said Then there's what is being described as a new salary cap, which allows schools to pay $20.5 million a year to its athletes. The cap will increase every year for a decade as part of the settlement. Advertisement 'As you navigate the landscape, we're going to do everything we can to maximize new revenue,' Napolillo said on Monday. Get Rhode Map A weekday briefing from veteran Rhode Island reporters, focused on the things that matter most in the Ocean State. Enter Email Sign Up Napolillo acknowledged that the salary cap could be an advantage for For context, the athletic program brought in $10.7 million in fundraising and $8.5 million in ticket sales Napolillo declined to say whether Providence will consider cutting any of its men's and women's sports as a result of the settlement, but non-revenue generating sports across the country could see reductions in scholarships or be eliminated entirely, Advertisement 'We're going to have to look at all avenues of how we're going to be successful in this new model,' said Napolillo, who is just wrapping up a stint as chair of the Big East Athletic Directors. For now, Napolillo said he's looking for creative ways to raise funds, including corporate sponsorships, ticket fees, and seeking more donations to the college. He noted that the athletic program now holds eight golf tournaments a year for fund-raising purposes. 'This is a challenging time in higher education and college athletics,' Napolillo said. 'I don't make the rules, but I have to navigate them.' This story first appeared in Rhode Map, our free newsletter about Rhode Island that also contains information about local events, links to interesting stories, and more. If you'd like to receive it via email Monday through Friday, . Dan McGowan can be reached at
Boston Globe
12 hours ago
- Boston Globe
Approving the Excel Academy lease would put our students first – and prove what's possible
Partnering with Excel Academy allows the Lauro space to be utilized again while reducing the financial burden on the city and creating new opportunities for collaboration that serves all students. Between Excel's rent payments, capital improvements, facility costs, planned annual neighborhood beautification projects, and philanthropic support, the total investment coming into our city will be around $80 million. Get Rhode Map A weekday briefing from veteran Rhode Island reporters, focused on the things that matter most in the Ocean State. Enter Email Sign Up Excel Academy–which is open to any student from Providence, North Providence, and Central Falls, with the majority coming from Providence–is one of the top 10 schools in Rhode Island for student growth in both math and English language arts. Ninety-five percent of students identify as students of color, and many will be the first in their families to go to college. Advertisement Rhode Island Education Collective, This shared space agreement creates a meaningful opportunity for charter and district schools to collaborate in the way they were always meant to—by exchanging ideas, sharing resources, and learning from each other to better serve all students. Placing two strong schools under one roof creates a culture of partnership rather than competition, setting a powerful precedent for education across Rhode Island. Together, these schools can show how alignment between charter and district models can elevate instruction, enrich school culture, and expand access to high-quality education in Providence. It's the kind of innovative, student-centered cooperation our public education system urgently needs. This lease agreement also offers clear financial benefits. At a time when the Advertisement It shouldn't be revolutionary for a school district and a charter school to work together to do what's best for our children. I hope what's planned for Lauro becomes the first of many examples of our city's leaders coming together to put our students' needs first and ensure every child has access to the high-quality education they deserve, whether they attend a district, charter, or any other public school. Victor F. Capellan is the founder and CEO of Rhode Island Education was the former superintendent of schools in Central Falls and has been a leader in education for 25 years in various capacities in Rhode Island, Massachusetts and New York.
Business Insider
17 hours ago
- Business Insider
Microsoft Stock (MSFT) Shrugs Off Macro Blues and Returns to Record Highs
Microsoft (MSFT) is rapidly solidifying its leadership in the AI race, fueled by the strength of Azure's cloud platform, the transformative impact of Microsoft 365 Copilot, and strategic investments in AI infrastructure. These growth drivers are delivering impressive revenue and earnings momentum, helping justify the stock's premium valuation, especially for long-term investors. In an AI-driven future, Microsoft's position at the top appears firmly secured. Confident Investing Starts Here: Looking at the tech giant's share price in recent months is a far cry from where sentiment was back in March, when Donald Trump's trade policies with China and fears of a U.S. recession unsettled the stock, sending it back to $350 per share. Given the strong bounce-back, I remain bullish on the stock. Today, every Fortune 500 CEO is racing to integrate AI into their business, and Microsoft's Azure has become the engine powering that transformation. Azure's revenue soared 33% last quarter—well ahead of Wall Street's 30% estimate —with AI services accounting for nearly half of that growth. Microsoft reported $26.75 billion in cloud revenue, up 21% year-over-year, thanks to Azure's ability to deliver customized AI solutions, from predictive analytics in retail to real-time fraud detection in finance. At Build 2025, Microsoft showcased updates to its Maia AI chip, reinforcing its role as an innovation leader in the space. What stands out is the real-world impact. For instance, Walmart (WMT) is using Azure to streamline its supply chain through AI models that anticipate demand surges. Microsoft CFO Amy Hood noted on the latest earnings call that the company is working to expand data center capacity to meet what she called 'insatiable' demand. While infrastructure constraints remain a challenge, they serve as a testament to Azure's accelerating momentum. Simply put, Azure has become the digital backbone of the AI era—and Microsoft is making sure it stays that way. MSFT Envisages Everyone to Have an AI Copilot Let's turn to Microsoft 365 Copilot, the company's AI-powered productivity assistant that's rapidly becoming an indispensable tool for modern workplaces. Capable of drafting emails, analyzing data in Excel, and even assisting with real-time coding, Copilot is transforming how employees interact with everyday software. In the most recent quarter, Microsoft's Productivity and Business Processes segment, which includes Copilot, generated $29.94 billion in revenue, marking a 10% year-over-year increase and surpassing analyst expectations. Notably, Barclays' decision to roll out 100,000 Copilot licenses highlights growing enterprise adoption across multiple industries. What sets Copilot apart is its deep integration within the Microsoft ecosystem—seamlessly functioning across Teams, Outlook, Word, and more. This embedded approach provides users with enhanced functionality without disrupting existing workflows. At the Build 2025 conference, Microsoft showcased Copilot's ability to automate routine desktop tasks, positioning it not just as a tool but as a true digital collaborator. CEO Satya Nadella highlighted use cases in sectors like healthcare, where organizations are leveraging Copilot to streamline administrative tasks such as managing patient records, despite some initial concerns about data privacy. While the $30-per-user monthly fee may give some decision-makers pause, the potential for significant time savings makes a strong case. Ultimately, Microsoft is redefining productivity by embedding AI at the core of the digital workplace. MSFT Earmarks Future AI Spend, Byte by Byte Microsoft is allocating a massive $80 billion toward AI infrastructure this year, accelerating its data center expansion at a rapid clip. However, last quarter marked a slight decline in capital expenditures—from $22.6 billion to $21.4 billion—signaling a shift from sheer scale to strategic efficiency. Rather than cost-cutting, this appears to reflect Microsoft's growing confidence in its internal AI capabilities. As the chart indicates, MSFT's R&D spend remains the most considerable portion of its operating expenses. A prime example is the Discovery platform, which recently identified a non-toxic data center coolant in just 200 hours, showcasing how AI is already improving operational efficiency. CEO Satya Nadella has also emphasized that refining AI models, whether developed with OpenAI or independently, is significantly reducing costs while enhancing performance. This disciplined investment approach seems to be paying off. Major clients, such as Siemens, are already leveraging Microsoft's AI for advanced manufacturing processes, underscoring the tangible, real-world impact of these efforts. Microsoft's bet on more innovative AI-driven infrastructure appears not only calculated but increasingly validated. MSFT's Profit Machine Keeps Humming Here's where the investment case for Microsoft becomes especially compelling. Azure and Copilot aren't just driving revenue—they're fueling significant profit expansion. These high-margin segments are helping lift Microsoft's net margins toward the 45–50% range, up from the high 30% level earlier in fiscal Q1 2025. Analysts project earnings per share will grow by 13.5% this year, with Q3 FY25 already posting an impressive $3.46 per share—a robust 18% year-over-year increase. Microsoft's bottom-line growth is clearly accelerating, powered by the scalability of its AI initiatives. Yes, Microsoft stock trades at a premium P/E of 35, but exceptional companies rarely come cheap. With strong execution across cloud, AI, and productivity tools, the market's valuation reflects real momentum, not just hype. Investors waiting for a significant pullback may find themselves on the sidelines as Microsoft continues to outperform its peers. This is a business in its prime, and the long-term upside remains firmly intact. What is Microsoft's 12-Month Price Target? Despite trading near its highs, Wall Street remains extremely bullish on MSFT stock. MSFT features a Strong Buy consensus rating, with 31 analysts currently bullish and five neutral. Not a single analyst is bearish on the stock. MSFT's average stock forecast of $514.93 indicates upside potential of about 10% over the next twelve months. Microsoft at Full Throttle Justifies Its Premium Microsoft's AI-powered rise is a standout example of strategic innovation and flawless execution. With Azure, Copilot, and well-timed infrastructure investments driving both top-line and bottom-line growth, the company's premium valuation looks well-earned. Backed by $80 billion in AI-related investments and a clear commitment to staying ahead of industry trends, Microsoft is firmly positioned at the forefront of the AI revolution. I continue to view MSFT as a premier tech holding—operating at peak performance with strong momentum and no indication of slowing down.
