State Officials Commit the Full Weight of their Offices to Help Schools Rebuild
State Treasurer Steven Grossman, Chairman of the Board of Directors of the Massachusetts School Building Authority (MSBA) and MSBA Executive Director Katherine Craven today joined local officials on tours of several Pioneer Valley-area schools that were impacted by last week’s severe storms. The two officials promised to work with affected school districts and reviewed the process for filing emergency Statements of Interest (eSOIs) with local officials.
“We were all stunned when we saw the full extent of the damage that these storms caused, and I want to ensure that every resource at our disposal is applied to the recovery effort,” said Treasurer Grossman. “In addition to gaining a first-hand appreciation of the true devastation that struck here last week, our visit today is meant to drive home a central message to this region – we are here for you, and we’re committed to helping you rebuild.”
“The MSBA is prepared to work with districts that have had schools impacted by the devastating weather,” said Executive Director Craven. “Our emergency SOI process is designed to expedite our process so we can assist districts with facilities that have been compromised due to unexpected circumstances such as last week’s severe storms.”
Grossman and Craven toured the Brookings Elementary School and the Dryden Elementary School in Springfield, as well as the Munger Hill Elementary School in Westfield. Between these visits, they convened a meeting of the MSBA Board of Directors at Westfield State University. The bi-monthly meeting, normally held in Boston, was moved to the Pioneer Valley so state leaders and MSBA Board members could get a firsthand look at the storm damage and reinforce their financial commitment to the region with local school officials.
An emergency SOI allows school districts to begin the process of working with the MSBA to secure potential funding to rebuild or repair schools in certain unexpected situations. To begin the eSOI process, a district must contact the MSBA within 10 days of the emergency situation. The MSBA would then initiate a period of review and inspection to determine whether that district is eligible to file an eSOI.
The MSBA strives to find the right-sized, most fiscally responsible and educationally appropriate solutions to create safe and sound learning environments. The MSBA reformed the Commonwealth’s formerly rampant and unsustainable school building program, which was more than $11 billion in debt.
Since the inception of the agency, the MSBA has made $7.6 billion in reimbursements to cities, towns and regional school districts for school construction projects. These timely payments have saved municipalities over $2.9 billion in avoided local interest costs and have provided much needed cash flow to communities.