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"The implementation and the follow-up are the most important things,” says New York City Council Education committee Chair Robert Jackson. “The follow-up is where we must make sure the money is being spent appropriately."

"We want to see what the action plan is from the DOE," Jackson says, adding that he anticipates details from DOE "in a couple of months." In both the City Council and the State legislature, "there has to be clear accountability in spending the money."

Set against the context of state and city education budgets of $50 billion and $23 billion, respectively, a win of $700 or $300 million enriches the general education coffers, even if it doesn’t mean enormous or direct infusions into cash-strapped classrooms. The city's portion of the grant will pay out over four years, resulting in annual gains of about $70 million a year, says Jackson. (By contrast, some city high schools have individual budgets of $15-26 million.)

Proponents argue that the essential reforms will shape education for generations. As the Mayor said after New York was named as a winner, “The money is useful, but the recognition is the real benefit.”

Hess disagrees. Race to the Top is “more about grant-writing and presentation skills than about substance,” he says. Some states worked with high-powered (and high-priced) consultants to write their applications; others asked teachers and volunteers to pitch in. If there’s a third-round Race, Hess says, it’s vital to “make sure you hire really good grant writers. I don’t think that’s the lesson Congress wanted states to take away from the process.”