The Winston-Salem Foundation is donating $500,000 to Winston-Salem/Forsyth County Schools to help pay down the district’s debt.
It’s the second donation from the foundation in the past week. The money will go even further thanks to a new agreement approved by the Forsyth County Board of Commissioners.
Under the deal, for every dollar the district raises privately to pay off its debt, the county will reduce what the district owes by the same amount — as long as those funds are raised by December 31.
Including the latest gift, nearly $900,000 has been raised for repayment so far.
The district owes the county about $5 million. Its overall debt stands at roughly $37 million.