There's very little doubt that LeBron James deserves a lot of credit for creating his I Promise School. People from all over the planet and from all different walks of life have praised the NBA star and new Los Angeles Laker for giving back to his community. The school hailed as one that will change lives comes with bells and whistles that include a skyrocketing price tag. Because he's attached his name to it and is paying for quite a bit of it out of pocket, the fact that he isn't the only one footing the bill has escaped the notice of some. It turns out that there are several hundred thousand investors who will be ponying up the cash to keep the school going, year after year.

Taxpayers in the state of Ohio will be called on to help offset some of the costs of the school. A new report by The Cleveland Plains Dealer says those taxpayers will be called on to pay as much as $8 million per year.

I Promise School has a price tag

The new report underlines that the I Promise School for at-risk teens is a public school in Akron. That means that the local school district will need to pick up additional costs once it is up and running. James has invested about $2 million this year in finishing construction on the site and providing materials for its students. While that is a very generous donation, it only tells some of the story. Officials are saying that the district will be paying more than half, and possibly as much as 75 percent of the total costs moving forward.

Since local Ohio taxpayers fund the region's budgets, landowners in the state are likely going to see an increase in their property tax bills in the coming years.

LeBron James' coverage masking the true investment by taxpayers

Bleacher Report points out that some officials inside the school district are uneasy with the little attention paid to the additional costs coming down the pike.

The plan, for now, is to cover the cost by "shifting students, teachers, and money from other schools."

"The coverage made it look like the whole thing is his," Akron Public Schools district spokesman Mark Williamson told the Plains Dealer. "He did a lot, but taxpayers should know it's their investment too."

There is something to be said for the nervousness the local government is feeling regarding the I Promise School considering the fact that many people think LeBron James is footing the entire bill. At the same time, the project was not forced on Akron public schools, as those that are now wringing their hands signed off on it.
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