Treasurer Grossman and Katherine Craven Help Break Ground for New Maynard High School

September 20, 2011

The MSBA is contributing up to $23.8 million towards the project

BOSTON, MA – State Treasurer Steven Grossman, Chairman of the Board of Directors of the Massachusetts School Building Authority (MSBA), and Katherine Craven, Executive Director of the MSBA, were in Maynard today to take part in the groundbreaking ceremony for the new Maynard High School. The new 82,947 square foot school will replace the old high school built in 1962 and will serve grades 8-12. The MSBA is reimbursing 56.42% of the approximately $42.2 million of eligible costs for the new school.

“This $23.8 million investment will help build a top-notch learning facility that will enrich the lives of countless Maynard High School students,” said Treasurer Grossman. “We have already begun to make good on our commitment, delivering more than $1.2 million already for this project.”

“I am pleased to help break ground on this important community project,” said Executive Director Katherine Craven. “As a result of the collaboration between the MSBA and the district, the students and staff of Maynard High School will benefit from a much improved environment for learning and teaching while saving state and local taxpayers’ money.”

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 unsustainable school building program, which was more than $11 billion in debt.

Since its creation, the MSBA has made over $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.