per acre: the acquisition cost of the Hoover Elementary property for use by City High.
The going rate for property for development is something closer to the neighborhood of thirty thousand dollars per acre.
Those extra zeros are a lot of money to pay for land for a parking lot.
Those extra zeros are a lot of money to pay for land for athletic fields.
Those extra zeros would pay for a lot of air conditioning.
Update: follow up post: Three Million Dollars Explained.