State Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (“MSBA”), and MSBA Executive Director Jack McCarthy announced today that the MSBA Board voted to invite the Mount Greylock Regional High School into the MSBA’s Eligibility Period.
“I’m delighted that the Board has voted the Mount Greylock Regional High School into the Eligibility Period,” said Treasurer Grossman. “We look forward to working collaboratively with Mount Greylock officials to develop the best solution to meet the district’s educational needs in a fiscally responsible manner.”
During the 270-day Eligibility Period, the MSBA will work with the Mount Greylock Regional School District to determine its financial and community readiness to enter the capital pipeline. The next step is for the district to complete preliminary requirements pertaining to local approval and formation of a local school building committee. Upon timely and successful completion of the Eligibility Period requirements, the district becomes eligible for an invitation into the Feasibility Study phase of the capital pipeline, subject to a vote of the Board of Directors.
“The Eligibility Period is a critical step in the MSBA’s process of evaluating potential work on the Mount Greylock Regional High School,” stated Executive Director McCarthy. “We look forward to our continued partnership with the District as it enters the Eligibility Period.”
The MSBA partners with Massachusetts communities to support the design and construction of educationally-appropriate, flexible, sustainable, and cost-effective public school facilities. Since its inception in 2004, the Authority has made $9.9 billion in reimbursements 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.