Methuen High School Helps Push MSBA Over the $10 Billion Mark

October 22, 2013

Grossman and McCarthy Visit Renovation Project to Celebrate Benchmark

Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (MSBA), and MSBA Executive Director Jack McCarthy today reviewed the ongoing expansion and refurbishment of Methuen High School, a project that played a role in elevating the MSBA’s overall investment in statewide school buildings to over $10 billion.

“Methuen – along with almost every other community across the Commonwealth – has benefited immensely from this $10 billion investment and we are delighted to be here today to see the impact of that investment,” said Grossman. “Generations of local students will walk the halls of this state-of-the-art facility and gain valuable skills to help them compete and flourish in the Commonwealth’s innovation economy.”

Created in 2004 to better manage the way in which school building projects are funded, the MSBA reached the $10 billion mark in school infrastructure financing this month. Investment in the Methuen High School project was one of the contributions that helped the Authority reach this benchmark and MSBA officials commended the collaborative effort that led to the project becoming a reality.

“This historic moment is an example of government at its best,” stated Jack McCarthy, MSBA Executive Director. “The MSBA’s model of collaboration with local school districts has proven to be both effective and sustainable in the longterm. As we begin our second decade in operation, we remain committed to supporting the design and construction of educationally-appropriate, flexible, sustainable and cost-effective public school facilities.”

The new Methuen High School is being built at a cost of nearly $99 million, with a commitment of up to $64.5 million in funding from the MSBA. The project entails major renovations to existing portions of the school and the addition of approximately 47,800 square feet of new space. The new school is expected to be complete in the summer of next year. To date, the MSBA has invested nearly $80 million overall in Methuen school projects.

“Methuen is so grateful to have the MSBA as a valued partner in our project," said Methuen Mayor Stephen Zanni. "Their cooperation, guidance and financial commitment have been integral to the success of the new Methuen High School. Our students will have a state of the art learning environment in which to thrive – and for that, the City cannot be more thankful for the MSBA’s contribution.”

The timely payments that the MSBA provides to municipalities have saved cities and towns over $2.9 billion in avoided local interest costs.