MSBA Announces $54 Million Approval for New Franklin Model High School

January 25, 2012

Massachusetts School Building Authority Announces $54 Million Approval for a New Franklin Model High School

MSBA Board votes to contribute up to $54,558,408 towards the Model school

State Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (“MSBA”), and Jack McCarthy, MSBA Executive Director, today announced that the MSBA Board of Directors voted to approve funding for the replacement of the existing Franklin High School with the construction of a new facility as part of the MSBA’s Model School Program. One of the next steps is for the Town of Franklin 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 new Franklin High School will be designed to serve an enrollment of 1,650 students in grades 9-12. The MSBA will contribute up to 59.52% of eligible costs for a total grant of up to $54,558,408 towards the project. 

“Our Model School Program has saved communities across the Commonwealth valuable time and money.  I am pleased Franklin’s needs are a good fit for this program and that they can take advantage of this potential savings while providing their high school students with a modern learning environment that fully supports the district’s educational plan,” said State Treasurer Steven Grossman.

“I look forward to continuing our work with Franklin officials during this next stage in the process to build a new Model High School that meets MSBA guidelines,” said Jack McCarthy, Executive Director of the MSBA.

The MSBA’s Model School Program effectively adapts and re-uses design elements from successful, recently-constructed schools, simplifying the design process, reducing the amount of time projects are in the design phase, and lowering design fees.  Using elements of a previously designed Model School allows projects to begin construction faster and reduces construction costs for the project.  At least a year of design work can be saved by using a Model School.

The MSBA strives to find the right-sized, most fiscally-responsible, and educationally-appropriate solutions to create safe and sound learning environments.  In its six year history, the MSBA has made more than $8 billion in reimbursements to cities, towns, and regional school districts for school construction projects.  These timely payments have saved municipalities more than $2.9 billion in avoided local interest costs and have provided much needed cash flow to communities in these difficult economic times.