Some of the most dramatic gains in urban education have come from school districts using what is known as a "portfolio strategy." Under this approach, districts negotiate performance agreements with public schools--traditional, charter, and hybrid models. The arrangement affords school leaders substantial autonomy to handcraft their schools to fit the needs of their students. Districts give parents choices among the schools while working to replicate successful schools and replace failing ones. Many doubt such a strategy is possible with an elected board, because closing schools and laying off teachers triggers fierce resistance. In this article, the author presents how an elected school board in Denver, Colorado, employs portfolio strategy to lift achievement.