MSBA Funds up to $30 Million for Renovations at Chicopee Academy

April 3, 2013
State Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (“MSBA”), and MSBA Executive Director Jack McCarthy today announced that the MSBA Board of Directors voted to approve a grant of  up to $30.1 million for renovations to Chicopee Academy.  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, along with the conditions under which the City will receive its MSBA grant.

“This is a down payment on the academic excellence of Chicopee students,” said Treasurer Grossman.  “Upon completion, these renovations will provide a modern learning environment and create the space needed to deliver on the school district’s educational commitments and goals.”

Chicopee Academy serves 825 students in grades 6 through 8. The project will consist of major renovations to address deficiencies in structural integrity and in building systems including mechanical, electrical, plumbing, envelope and windows. The MSBA will contribute 80% of eligible costs toward this project, for a total grant of up to $30,100,581.

“It’s really great when we can extend the useful life of these buildings,” stated Executive Director McCarthy.  “Students at Chicopee Academy will soon have a beautiful new space which will undoubtedly enhance and improve their ability to excel in the classroom.”

The MSBA partners with Massachusetts communities to support the design and construction of educationally-appropriate, sustainable and cost-effective public school facilities. Since its creation, the MSBA has made more than $9.6 billion in timely payments to cities, towns and regional school districts for school construction projects. These reimbursements have saved municipalities over $2.9 billion in avoided local interest costs and have provided much needed cash flow to communities.