For Immediate Release - October 29, 2013

School Building Authority Marks $10 Billion In Expenditures

Infrastructure Investment has Benefited Every Corner of the Commonwealth

             Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (MSBA), MSBA Executive Director Jack McCarthy, House Speaker Robert A. DeLeo, and other members of the Legislature today celebrated the agency having surpassed $10 billion in school building expenditures since its inception in 2004.

            “Almost every community in the Commonwealth has benefited immensely from this $10 billion investment,” said Grossman.  “We’ve visited many of these communities and have seen firsthand how modern, state-of-the-art learning environments are better preparing students to compete and flourish in the Commonwealth’s innovation economy.”

            “I commend Treasurer Grossman, Jack McCarthy and the MSBA for reaching this significant milestone,” House Speaker (D-Winthrop) said.  “When the Legislature established the MSBA, we reaffirmed our belief that quality school facilities provide a strong foundation for topnotch education.  Since its inception, the work of the MSBA has proven that to be true.  I thank the Authority and know the sustainable and innovative planning model it created will serve the Commonwealth for decades to come.”

            Created nearly a decade ago with a mandate to bring effective planning, oversight and financial stability to the public school building process, the MSBA reached the $10 billion mark in school infrastructure financing this month.  Since its inception, the MSBA has provided local reimbursements for hundreds of school projects, and MSBA officials commended the collaborative partnerships with school districts that help move projects from idea to reality.

            “This historic moment 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 MSBA is funded with one penny of the state sales tax for every dollar spent.  This dedicated stream of revenue allows the agency to provide reimbursement to cities and towns on school building projects that have been approved as priorities.  The timely payments that the MSBA provides to municipalities have saved cities and towns over $2.9 billion in avoided local interest costs. 

            A town-by-town list of MSBA expenditures since 2004 pdf format of MSBA Paymnts to Cities & Towns, Regional School Dists.
is attached.