For Immediate Release - October 17, 2013

Springfield School Helps Push MSBA Over The $10 Billion Mark

Grossman and McCarthy Visit Refurbished Forest Park School to Celebrate Benchmark

               Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (MSBA) and MSBA Executive Director Jack McCarthy today visited the newly expanded and refurbished Forest Park Middle School in Springfield, a project that played a role in elevating the MSBA’s overall investment in statewide school buildings to over $10 billion.

                “Springfield -- 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.  “Generations of Forest Park students will walk the halls of this state-of-the-art facility and gain valuable skills to help them compete and flourish in the Commonwealth’s innovation economy.”  

                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 Forest Park Middle School project 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.

               Mayor Domenic J. Sarno stated: "To date the MSBA has invested in over 50 % of our school buildings. We are incredibly grateful to State Treasurer Grossman and MSBA Executive Director Jack McCarthy for the investment the MSBA has made in the City of Springfield. Treasurer Grossman understands the needs of an urban city and in that we cannot do it alone. His commitments and actions since the June 1st tornado and October snow storm to fund Brookings and Dryden at 100% is helping the City rebuild its schools neighborhoods; with more help on the way. On behalf of the current students, teachers and parents who now benefit from theses state-of-the-art facilities and for the generations to come; thank you."

               Superintendent of Springfield Schools Daniel J. Warwick said the school district is extremely grateful for the support of the MSBA since its inception.

               “The MSBA has been a tremendous asset, provider and supporter for Springfield Public Schools,” said Warwick. “Their unwavering commitment has given our students access to cutting-edge, 21st century equipment and facilities and we know that increases their readiness and competiveness for college and career.”

                “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 new Forest Park School was built at a cost of $44 million, with a commitment of up to $39 million in funding from the MSBA.  The project entailed the renovation of approximately 140,000 square feet of the existing school and the addition of approximately 8,800 square feet of new space.  The newly refurbished school was substantially completed this school year.  To date, the MSBA has invested more than $297 million overall in Springfield 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.