BOSTON, MA – State Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (“MSBA”), and Katherine Craven, MSBA Executive Director, today announced that the MSBA Board approved funding for a new Quincy Central Middle School to be built through the Model School Program. The next step in the process is for the City of Quincy 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 city will receive its grant from the MSBA.
The total budget for the project is $50 million with the MSBA funding 80% of eligible project costs for a total MSBA grant of $32.9 million. The new 114,975 square foot school will serve 620 students grades six through eight.
The MSBA’s Model Schools 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.
“Our Model School Program has saved communities across the Commonwealth valuable time and money. I am pleased Quincy’s needs are a good fit for this program and that they can take advantage of this potential savings while providing the students of Quincy Central Middle School with a modern learning environment that fully supports the district’s educational plan,” said State Treasurer Steven Grossman.
“The Model School approach allows communities, like Quincy, to move forward in a fiscally responsible manner that benefits taxpayers, administrators, teachers and students,” said Katherine Craven, Executive Director of the MSBA.
"We have said from Day One that we were going to build the first-class facility that our children deserve, but do it in a way that respects and protects the taxpayers of this City. The reimbursement rate awarded to the City is a testament to the hard work of many people to reach that goal," said Mayor Koch. "I wish to thank Superintendent DeCristofaro, City Solicitor Timmins, and the Building Committee for their efforts, and especially MSBA Executive Director Katherine Craven and her staff for working with us in partnership."
"The 80% reimbursement is an enormous help with getting the new Quincy Central Middle School built. Receiving the maximum reimbursement reflects the hard work and collaboration between the city and the School Building Authority,” said State Rep. Tackey Chan.
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 $7.5 billion in reimbursements 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 in these difficult economic times.
