MSBA Announces $8.6 Million Grant Approval for New Field Elementary School in Weston

September 28, 2011

The Massachusetts School Building Authority Announces $8.6 Million Grant Approval for a New Field Elementary School in Weston

MSBA Board votes to contribute up to $8,610,302 towards the new school

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 Field Elementary School in Weston. One of the next steps is for Weston 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 elementary school will be built upon a design enrollment of 355 students in grades 4 and 5. The MSBA will be contributing up to 34.54% of eligible costs for a total grant of up to $8,610,302 towards the new school.

“The plans for this new elementary school are the direct result of a collaborative partnership forged by Weston officials and the MSBA,” said Treasurer Grossman. “We look forward to helping deliver an efficient, sustainable, and cost-effective facility that will meet the community’s educational demands and save local and state taxpayer resources.”

“The new Field Elementary School will address facility deficiencies as well as eliminate overcrowding,” stated Katherine Craven, MSBA Executive Director. “Students will soon have a state of the art school which will 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 $8 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.