MSBA Announces $17.5M Approval for New Elias Brookings Elementary School in Springfield

State Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (MSBA), and Jack McCarthy, MSBA Executive Director, today announced that the Authority’s Board of Directors voted to approve funding for the new Elias Brookings Elementary School in Springfield.  The Brookings School was severely damaged in the June 1, 2011 tornado that struck Springfield and other communities in Western Massachusetts.

Presently, the District is authorized to receive MSBA reimbursement for 80 percent of eligible project expenses with a maximum Total Facilities Grant of $17,474,808.  However, special legislation filed by Senator James Welch passed this summer authorizing the Authority to reimburse up to 100 percent of eligible costs in the future. 

During a visit to Springfield in August of this year, Treasurer Grossman reemphasized his commitment to have the MSBA finance the replacement of the damaged school, saying, “I saw firsthand the devastation caused by the tornado only days after it hit.  In a time of crisis, Massachusetts citizens rally around each other and lend a hand, and that’s exactly what we’re doing with the Brookings School project.”

One of the next steps is for the District 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 for the MSBA grant.

“The construction of the new Brookings School represents a major step in Springfield’s recovery from last year’s devastating storm,” Executive Director McCarthy said. “The MSBA stands alongside the people of Springfield every step of the way in this project.”

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 inception, the Authority has made $9 billion in reimbursements for school construction projects. These timely payments have saved municipalities over $2.9 billion in avoided local interest costs and have provided much needed cash flow to communities.