BOSTON, MA – State Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (“MSBA”) and Katherine Craven, MSBA Executive Director, announced today that the MSBA Board voted to move McKinley Elementary School into the MSBA’s Capital Pipeline for potential funding. The project will move into the Feasibility Study phase where Revere and the MSBA will work in collaboration to study potential solutions to the problems identified in the district’s Statement of Interest.
“I am pleased to welcome McKinley Elementary into the MSBA’s Capital Pipeline. We are committed to working with Revere to find the most economical solution to the problems at McKinley so that the children of Revere can grow and learn in an educationally appropriate and safe facility,” said State Treasurer Steven Grossman.
“The MSBA is committed to working with Revere to better understand the deficiencies at McKinley Elementary,” stated Katherine Craven, MSBA Executive Director. “We look forward to continuing our due diligence to determine what the best plan of action is moving forward.”
The MSBA strives to find the right-sized, most fiscally responsible and educationally appropriate solutions to create safe and sound learning environments. The MSBA is committed to protecting the taxpayer’s dollar by improving the school building grant process and avoiding the mistakes of the past in the funding and construction of schools. The MSBA reformed the Commonwealth’s formerly rampant and unsustainable program, which was more than $11 billion in debt. The MSBA has made $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.
