Treasurer Cahill and Katherine Craven Help Open the New Academic Wing at Beverly High School

November 19, 2010

BOSTON, MA – State Treasurer Tim Cahill, Chairman of the Massachusetts School Building Authority, and Katherine Craven, the MSBA’s Executive Director helped cut the ribbon at Beverly High School today to formally open the school’s new academic wing. The total budget for the addition and renovation project is $81.5 million with the MSBA funding 58.42% of the project or up to $46,826,551. The 368,300 square foot school serves approximately 1,200 students. In addition to the new academic wing, the school’s auditorium, cafeteria, kitchen, gymnasium and locker rooms will be renovated.

“This investment will not only benefit the taxpayers of Beverly -- by saving them the expense of a new school -- but also generations of Beverly High School students who will be able to receive a 21st century education in a 21st century facility,” stated Treasurer Cahill.

“I want to commend Mayor Scanlon and Beverly’s legislative delegation for being such tireless advocates for this project. This new wing, and the renovations still to come, will provide the students of Beverly with a modern, efficient facility that will encourage learning,” said Katherine Craven.

The MSBA strives to find the right-sized, most fiscally responsible and educationally appropriate solutions to create safe and sound learning environments. The MSBA is committed to protecting the taxpayer’s dollar by improving the school building grant process and avoiding the mistakes of the past in the funding and construction of schools. The MSBA reformed the Commonwealth’s formerly rampant and unsustainable program, which was more than $11 billion in debt. The MSBA has made nearly $7.3 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.