The City and the District will enter into a Cooperative Agreement for the construction, renovation and operation of Community Learning Centers within the Akron City School District. Akron’s neighborhoods will have new and renovated school buildings funded by Issue 10 that can be used by the community for recreation, lifelong learning and other services after school, on weekends and during the summers. Akron Community Learning Centers will be available to those who reside or work in the City.

To secure an additional $409 million from the State of Ohio, Akron must provide local funds of $284 million. The $693 million generated would be used to implement an aggressive 15 year plan to rebuild or remodel every public school in the Akron City School District.

These local funds for the Community Learning Centers will be funded by a levy of one-quarter of one percent (0.25%) additional income tax. The City will issue bonds to assist in the District's funding of the local share of basic project costs. Revenue from the levy will be used to pay off the bonds and interest charges on the debt.

The Memorandum of Understanding, to be approved by the School Board, Akron City Council, and the Ohio School Facilities Commission includes the following:

• The City will issue bonds and pay to the District in a lump sum funds sufficient for the local share of Segment 1 of the school construction project
• The District will contribute $3 million per year from its permanent improvement levy to the bond fund
• If a County sales tax is levied to fund school facilities, those revenues received by the District will be transferred to the City to pay off the debt
• The District will be the record owner of the Community Learning Centers. The City will have an undivided ownership interest in the Community Learning Centers, along with the Ohio School Facilities Commission as provided by law
• The term of the agreement will be 30 years, renewable for an additional 20 years
• The City and the District will each appoint five members to a Joint Board of Review. The Community Learning Centers will be constructed, renovated and operated by the joint board. If the joint board is unable to agree, the parties will select a neutral person by mutual agreement
• The Community Learning Centers will be used by "school users" and "community users" under joint procedures to be set forth in the Cooperative Agreement for scheduling the centers. School users will have priority use of the centers during regular school hours
• The agreement will also provide for janitorial services, maintenance, security and liability protection