For Immediate Release - October 17, 2013

Holyoke School Helps Push MSBA Over the $10 Billion Mark

Grossman and McCarthy Visit Dean Vocational Tech to Celebrate Benchmark

               Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (MSBA) and MSBA Executive Director Jack McCarthy today visited the William J. Dean Vocational Technical High School in Holyoke to review a $5.7 million science lab upgrade project, work that played a role in elevating the MSBA’s overall investment in statewide school buildings to over $10 billion.

               “Holyoke -- along with almost every other community across the Commonwealth -- has benefited immensely from this $10 billion investment, and we are delighted to be here today to see the impact of that investment,” said Grossman.  “Our students need a 21st century science curriculum and learning environment to compete in the innovation economy, and it’s exciting to see the vast educational opportunities created by this new space.”

               Created in 2004 to better manage the way in which school building projects are funded, the MSBA reached the $10 billion mark in school infrastructure financing this month.  Investment in the science labs at Dean Vocational Tech was one of the contributors that helped reach this benchmark, and MSBA officials commended the collaborative effort that led to the project becoming a reality.

               "This is an invaluable investment that will continue to impact future generations of Holyoke students," said Mayor Morse, "I would like to thank Treasurer Grossman and the MSBA for their continued commitment to ensure that our students are provided with a learning environment that encourages success. If we are going to develop a sustainable economy in our community, we must provide our children with the tools they need to thrive in the real world."

               “This is an example of government at its best,” stated Jack McCarthy, MSBA Executive Director.  “The MSBA’s model of collaboration with local school districts has proven to be both effective and sustainable in the long-term. As we begin our second decade in operation, we remain committed to supporting the design and construction of educationally-appropriate, flexible, sustainable and cost-effective public school facilities.”

               The $5.7 million project involved a complete refurbishment of science lab space at the school with new equipment and flexible teaching space with combined laboratory and lecture rooms.  The MSBA has committed to funding up to $4.5 million of the improvements.  To date, the MSBA has invested nearly $28.5 million overall in Holyoke school projects.

               The timely payments that the MSBA provides to municipalities have saved cities and towns over $2.9 billion in avoided local interest costs.