I much prefer this approach, at least in communities of modest size where one pool can be used by everyone. I hope my township eventually goes this route and builds a nice natatorium with a 50 meter indoor pool. Take the capital expense away from the schools and simply charge them rent when the high schools use the pool.We built a new North Jr/Sr HS building here in Evansville about 13 years ago (ftr, the budget was ~$70m). The original plans called for a natatorium. But the school corp scrapped it when officials and parents from the other high schools complained about North getting a pool and nobody else.
Eventually the city just built a new natatorium that all of the schools can use -- which makes a helluva lot more sense.