Grossman and McCarthy Visit Accelerated Repair Project to Celebrate Milestone
 
Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (MSBA), and MSBA Executive Director Jack McCarthy today visited the Lake View School in Worcester to review a $1.4 million repair project, as well as to celebrate the investment of $186,822,308 by the MSBA in Worcester public schools since the Authority’s 2004 inception. The Lake View School project helped elevate the MSBA’s overall investment in statewide school buildings to over $10 billion. The MSBA is also working with the City on nine other school projects at the Chandler Magnet School, Dr. James Caradonio New Citizens Center, Jacob Hiatt Magnet School, May Street School, Nelson Place Elementary School, Columbus Park Preparatory Academy, Tatnuck Magnet School, Worcester Arts Magnet School, and the Worcester East Middle School.

“The MSBA's investment in Worcester has been substantial since 2004, and we're delighted that this project played a role in helping us surpass $10 billion in investment to date,” said Treasurer Grossman. “We've worked collaboratively with Worcester officials and all of our colleagues at the local level to reach this impressive benchmark, and we look forward to continuing the kind of cooperative partnerships that move these school building projects from concept to reality.”
 
The $1,435,093 Lake View School project consists of repairs to windows, doors and roof in the 27,900 square-foot school.  The project is being conducted as part of the Authority’s Accelerated Repair Program, which focuses on energy-saving repairs to extend the working lives of schools that are otherwise structurally, functionally, and educationally sound.  The MSBA is contributing 80% of eligible expenses toward the project, for a total grant of up to $1,119,530.
 
“I am excited about the Massachusetts School Building Authority and Treasurer Steve Grossman’s commitment to the Public Schools of the City of Worcester,” said Worcester Mayor Joseph M. Petty. “With an actual investment of over $18 million from the MSBA, we already have been able to improve and update five schools with improvements coming to four more schools in the next year. Additionally, we are underway in taking the necessary steps to replace the Nelson Place Elementary School with an anticipated $32 million from the MSBA. We have achieved and continue to achieve infrastructure upgrades because of the great partnership between the MSBA and the City of Worcester.”

“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, like Worcester, 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 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 billion in reimbursements for education capital improvement projects. These timely payments have saved districts over $2.9 billion in avoided local interest costs and have provided much needed cash flow to communities.