The MSBA Board approved the schematic design
State Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (“MSBA”), and Jack McCarthy, MSBA Executive Director, today announced that the MSBA Board voted to approve the schematic design and funding for additions and renovations to the Lincoln School in Lincoln. 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 and set forth the terms and conditions under which the District will receive its grant from the MSBA. The District is eligible to receive reimbursement from the MSBA for 44.80% of eligible expenses with a Maximum Total Facilities Grant for the project of $20,988,972.
“Listening to the needs of a community and developing projects accordingly are priorities at the MSBA, and the Lincoln School project is a case study in that sentiment,” said Treasurer Grossman. “Thanks to our collaborative work with local officials, we are working to build a safe and modern educational facility that will provide students with a top-notch learning environment.”
The project will consist of a 53,000 square-foot addition to the existing school, including system, structural, and architectural upgrades to meet current building code requirements and to support the District’s educational program. The Lincoln School was built in 1948 and serves 600 students from Kindergarten through grade 8.
“We have studied all the options and this is the most cost-effective plan to provide an excellent educational environment for Lincoln students,” said Executive Director McCarthy.
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 inception, the Authority has made $8.9 billion in reimbursements 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