State Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (“MSBA”), and MSBA Executive Director Jack McCarthy today announced that the MSBA Board of Directors voted to approve a grant of up to $44.4 million for renovations to Winchester High School. One of the next steps is for the District and the MSBA to enter into a Project Funding Agreement, which will detail the project’s scope and budget, along with the conditions under which the Town will receive its MSBA grant.
"This is a down payment on the academic excellence of Winchester students,” said Treasurer Grossman. “Upon completion, these renovations will provide a modern learning environment and create the space needed to deliver on the school district’s educational commitments and goals.”
The Winchester High School project has a design enrollment of 1,370 students in grades 9 through 12. The project will consist of major renovations to address deficiencies in structural integrity and in building systems including mechanical, electrical, plumbing, envelope, and windows. The MSBA will contribute 42.92% of eligible costs toward this project, for a total grant of up to $44,493,270.
“It’s really great when we can extend the useful life of these buildings,” stated Executive Director McCarthy. “Students at Winchester High School will soon have a beautiful new space which will undoubtedly enhance and improve their ability to excel in the classroom.”
The MSBA partners with Massachusetts communities to support the design and construction of educationally-appropriate, flexible, sustainable, and cost-effective public school facilities. Since its 2004 inception, the Authority has made over $9.9 billion in reimbursements for education capital improvement projects. These timely payments have saved districts over $2.9 billion in avoided local interest costs and have provided much needed cash flow to communities.