The most important date in the Boston University Chelsea Partnership was not the day in 1989 when the initial partnership agreement was signed. Nor was it the date in 1997 when the School Committee voted unanimously to renew the partnership for five additional years. If an objective history of the Boston University-Chelsea Partnership were written, Sept. 12, 1991 would be the date that would loom largest. This was the day the Commonwealth placed the City of Chelsea in receivership because widespread corruption and mismanagement had produced a fiscal meltdown. The author looks back at Boston University's Chelsea Experiment by uncovering the realities and controversies surrounding this partnership. Achievements of the partnership are also discussed.