MSBA Announces $37.9 Million Approval for New Wilmington High School
MSBA Board votes to contribute up to $37,993,245 towards the new school
State Treasurer Steven Grossman, Chairman of the Massachusetts School Building Authority (“MSBA”), and Katherine Craven, MSBA Executive Director, today announced that the MSBA Board of Directors voted to approve funding to build a new Wilmington High School. One of the next steps is for Wilmington and the MSBA to enter into a Project Funding Agreement which will detail the project’s scope and budget and set forth the terms and conditions under which the Town will receive its grant from the MSBA.
The new High School will be built upon a design enrollment of 960 students in grades 9 through 12. The MSBA will be contributing up to 55.19% of eligible costs for a total grant of up to $37,993,245 towards the new school. The new High School will be built as an energy efficient “green” school.
“This is a great day for Wilmington, students of the high school, and the MSBA. I am pleased that the MSBA Board approved this grant of $37.9 million. We have worked together long and hard and now we have plans for an efficient, sustainable, affordable and much improved high school that will save not only local taxpayers but also taxpayers state-wide,” said State Treasurer Steven Grossman.
“The new Wilmington High School will address facility deficiencies and core academic spaces,” stated Katherine Craven, MSBA Executive Director. “Students will soon have a beautiful new space which will undoubtedly enhance and improve their ability to excel in the classroom.”
The MSBA strives to find the right-sized, most fiscally-responsible, and educationally-appropriate solutions to create safe and sound learning environments. In its six year history, the MSBA has made more than $8 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 in these difficult economic times.