The Massachusetts School Building Authority Announces $9.6 Million Approval for a New Thompson Elementary School in Arlington
MSBA Board votes to contribute up to $9,615,802 towards the new school
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 to build a new K-5 Thompson Elementary School in Arlington. One of the next steps is for Arlington 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.
The new K-5 Thompson Elementary School will be built based on a design enrollment of 380 students. The MSBA will be contributing up to 50.42% of eligible costs for a total grant of up to $9,615,802 million.
“This is a great day for Arlington, students of the Thompson School, and the MSBA. I am pleased that the MSBA Board approved this grant of $9.6 million. We have worked together long and hard and now we have plans for an efficient, sustainable, affordable and much improved Thompson School that will save not only local taxpayers but also taxpayers state-wide,” said State Treasurer Steven Grossman.
“The new Thompson Elementary School will address facility deficiencies as well as eliminate overcrowding,” stated Katherine Craven, MSBA Executive Director. “Students will soon have a beautiful new space which will undoubtedly enhance and improve their ability to excel in the classroom.”
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 than $7.9 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.
