Treasurer Grossman and the MSBA Announce Approval for a New Galvin Middle School
State Treasurer Steven Grossman, Chair of the Massachusetts School Building Authority (“MSBA”), and John K. McCarthy, MSBA Executive Director, today announced that the MSBA Board voted to approve funding for the Town of Wakefield to enter into the Project Scope and Budget phase for the construction of the new General John R. Galvin Middle School. One of the next steps is for the Town 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 Town will receive its grant from the MSBA.
The new Galvin Middle School will be designed based on the District and the MSBA mutually agreed upon design enrollment of 1,070 students serving grades 5-8. The Total Project Budget for the Galvin Middle School is $73,690,309, with an MSBA Estimated Maximum Total Facilities Grant of $32,631,619.
“Today’s vote is the culmination of months of intensive collaboration between Wakefield and the MSBA,” Treasurer Grossman said. “As a result, we have a proposed school that will serve more than 1,000 students in an efficient, sustainable and affordable way. The MSBA will continue to work closely with the District as the project moves forward.”
“The new Galvin Middle School will provide students with a cost effective, beautiful new space which will undoubtedly enhance and improve their ability to excel in the classroom,” said Executive Director McCarthy.
The MSBA works with local communities to identify school facility needs, develop fiscally responsible and educationally appropriate solutions, and create safe, sound, and sustainable learning environments. Since its 2004 creation, the MSBA has made more than $8.6 billion in timely payments to cities, towns, and regional school districts 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.
