The actual alternative is to provide resources to schools that are in bad areas. And to provide resources for people in those areas themselves.
Because there is such good precedents that providing unlimited resources to troubled areas actually fix problems.
As others have told you, there is no evidence that increased school funding in and of itself results in better results.
Contrary to what is often said, there is no shortage whatsoever of funding for public schools in urban areas. New York City spends more per student than anywhere else in the US. <https://www.silive.com/news/2019/06/how-much-does-new-york-c...> Baltimore, an incredibly poor and run-down city, spends the third most. #4-6 and #8 are all wealthy suburbs of Washington DC, but their schools are all far better than those of Baltimore or NYC on average, despite Baltimore spending slightly more per student and NYC spending 60-70% more.
The results from Abbott Districts in New Jersey would suggest that increased funding and resources does little if anything to improve results. Abbott Districts in New Jersey have been getting funding at roughly the same level or higher as the wealthiest districts in the state since 1990, and they have nothing to show for it:
https://en.wikipedia.org/wiki/Abbott_district
The difference in math proficiency for Abbott students vs. non-Abbott students has stayed roughly the same, while thr language proficiency gap has actually increased.