MSBA Announces $25 Million Approval for Southeastern Regional Voc Tech High School

March 30, 2011

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 voted to approve funding for the addition and renovation project at Southeastern Regional Vocational Technical High School. The next step in the process 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 under which the district will receive its grant from the MSBA.

Southeastern Regional Vocational Technical High School is 309,760 square feet and serves 1,262 students. The total budget for the addition and renovation project is $32 million with the MSBA contributing 80% of eligible project costs for a total MSBA grant of $25.9 million.

“This is a great day for the district, its students and the MSBA. I am pleased that the MSBA Board approved this grant of $25 million. We have worked together long and hard and now we have plans for an efficient, sustainable, affordable and much improved Southeastern Regional Voc Tech that will save not only local taxpayers but also taxpayers state-wide,” said State Treasurer Steven Grossman.

“This addition and renovation project will address facility deficiencies as well as allow Southeastern’s teachers to better deliver their educational and vocational programs,” stated Katherine Craven, MSBA Executive Director.

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 school facilities. In its six year history, 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 in these difficult economic times.