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 $28 million to build a new Woodland Elementary School in Milford.
“This is a down payment on the academic excellence of Milford students,” said Treasurer Grossman. “Upon completion, this new school will provide a modern learning environment and create the space needed to deliver on the school district’s educational commitments and goals.”
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.
Woodland Elementary School will be built based on a design enrollment of 985 students in grades 3 through 5. The MSBA will contribute 59.94% of eligible costs toward the project, for a total grant of up to $28,082,547. The current school was built in 1977 and suffers from deficiencies in major building systems including mechanical, electrical and windows.
“The new Woodland Elementary School will replace an aging school with an up-to-date, 21st century learning facility,” stated Executive Director McCarthy. “Students 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 $10.4 billion in reimbursements for school capital improvement projects. MSBA reimbursements have saved districts over $2.9 billion in avoided local interest costs and have provided much needed cash flow to communities.