Burlington Cuts Ribbon on New Memorial Elementary School

September 15, 2011

MSBA Attends Ribbon Cutting Ceremony For Burlington's New Memorial Elementary School
The MSBA is contributing up to $14 million towards the project

BOSTON, MA – Katherine Craven, Executive Director of the Massachusetts School Building Authority (“MSBA”), was in Burlington today to take part in the ribbon cutting ceremony for the new Memorial Elementary School. The new school which replaces the existing 55 year old facility, will house 500 students Grades PreK-5. The MSBA is reimbursing over $14 million or 52.11% of the $26.2 million of eligible costs for the new school.

“I am honored to help cut the ribbon for this beautiful new elementary school,” said Executive Director Katherine Craven. “As a result of the collaboration between the MSBA and the District, the students and staff of the new Memorial Elementary School will benefit from a much improved environment for learning and teaching while saving state and local taxpayers’ money.”

“The $14 million investment the State is making for the new Memorial Elementary School will create a modern learning facility that will address the specific educational needs of preschool and elementary school students,” said Treasurer Steven Grossman. “We have already begun to make good on that investment. To date the MSBA has paid Burlington more than $8 million for this project.”

The MSBA strives to find the right-sized, most fiscally responsible and educationally appropriate solutions to create safe and sound learning environments. The MSBA reformed the Commonwealth’s formerly rampant and unsustainable school building program, which was more than $11 billion in debt.

Since its creation, the MSBA has made $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.