Morris Brown College officials believe they would be able to sell off some property, settle mounting debt and keep most of the campus intact under a $20 million plan submitted to a bankruptcy court, the Associated Press reported on Wednesday. The plan comes less than a month after college trustees turned down an offer of nearly $10 million in taxpayer money. Atlanta Mayor Kasim Reed had offered the money to try and eliminate the school's debt and has expressed skepticism toward the school's plan. The school is about $35 million in debt and has no steady cash flow. The bankruptcy deal calls for leasing out certain school property — such as Herndon Stadium, which was built for the 1996 Olympics.
