The MSBA Announces a $21 Million Approval for the Addition/Renovation Project at Norton High School

June 13, 2011

The Massachusetts School Building Authority Announce $21 Million Approval for Norton High School

The MSBA will Contribute up to $21,484,408 Towards the Addition/Renovation Project

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 of Directors voted to approve funding for an addition and renovation project at Norton High School. The next step in the process is for Town of Norton 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.

“This is a great day for Norton, its high school students, and the MSBA. I am pleased that the MSBA Board approved this grant of $21 million. After a great deal of hard work and collaboration, we have plans for an efficient, sustainable and affordable renovation of Norton High School that will save not only local taxpayers but also taxpayers state-wide,” said State Treasurer Steven Grossman.

“A larger, renovated Norton High School will address the school’s facility deficiencies as well as eliminate its overcrowding, allowing the teachers to better deliver their educational program,” 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. It is committed to protecting taxpayers’ dollars by improving the school building grant process and avoiding the costly mistakes of the past in the funding and construction of schools. The MSBA reformed the Commonwealth’s formerly rampant and unsustainable school building program, which was more than $11 billion in debt.

Since its inception in 2004, the Authority has made $7.6 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.