Welcome to the website of the Massachusetts School Building Authority!
On July 28, 2004, legislation was signed creating the Massachusetts School Building Authority ("MSBA") as a new independent public authority.
For over a year, various departments of the Treasurer's office worked diligently with the Legislature to craft and pass a responsible reform plan for the school building assistance program. This reform plan pledges 20% of the state's future sales taxes as a dedicated revenue stream to pay down the existing $10.7 billion in debt, while creating a new authority charged with managing the cost and operations of the program in the future.
The passage of this legislation and the creation of the MSBA provide a solution that keeps the state's commitment to cities and towns, provides an ongoing revenue source for new school construction for our children, and presents a significant opportunity for new economic development. All promises made by the state will be kept - ensuring that hundreds of new schools across our state will be built.
I have appointed Katherine P. Craven as Executive Director of the MSBA. Katherine understands the financial complexities behind this reform and brings a great deal of experience and professionalism to the role of Executive Director. She will prove invaluable in helping the MSBA to assess and fund the school building needs of cities and towns throughout our Commonwealth.
I look forward to working with the MSBA on funding and building our schools in an efficient and cost effective manner. I know our efforts will assist many communities throughout the Commonwealth, for many years to come.
Sincerely,
Timothy P. Cahill
State Treasurer and
Massachusetts School Building Authority, Chairman