The MSBA is Contributing up to $29 Million Towards the Project
BOSTON, MA – Katherine Craven, Executive Director of the Massachusetts School Building Authority (“MSBA”), was in Sutton today. On behalf of State Treasurer Steven Grossman, Chairman of the Board of Directors of the MSBA, she took part in the groundbreaking ceremony at the site of the addition/renovation project at Sutton Middle/High School. The school will serve 840 students in grades six through twelve. The MSBA is reimbursing the district for 55.39% of eligible project costs -- or up to $29,843,511.
“I am pleased to help break ground for this project,” said Executive Director Katherine Craven. “As a result of the collaboration between the MSBA and the district, the students and staff of Sutton Middle/High School will benefit from a much improved environment for learning and teaching while saving state and local taxpayers’ money.”
“Listening to the needs of a community and developing projects accordingly are priorities for the MSBA, and the Sutton Middle/High School project is a case study in that sentiment,” said Treasurer Steven Grossman. “Thanks to our collaborative work with local officials, our $30 million investment will result in a safe and modern high school that will provide Sutton students with a top-notch learning environment.”
The MSBA strives to find the right-sized, most fiscally responsible, and educationally appropriate solutions to create safe and sound learning environments. It is committed to protecting taxpayer dollars by improving the school building grant process and avoiding the costly mistakes of the past in the funding and construction of schools. The MSBA reformed the Commonwealth’s formerly rampant and unsustainable school building program, which was more than $11 billion in debt.
Since its inception in 2004, 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.