Senator Michael O. Moore announced last week that the Massachusetts School Building Authority (MSBA) celebrated the agency having surpassed $10 billion in school building expenditures since its inception in 2004.
“The Second Worcester District has benefited immensely from this $10 billion investment from the MSBA,” said Senator Moore. “This funding directly impacts local municipalities through the construction of modern, state-of-the-art facilities that help foster learning environments to better prepare students for future. This historic moment is a shining example of government at its best.”
Created nearly a decade ago with a mandate to bring effective planning, oversight and financial stability to the public school building process, the MSBA reached the $10 billion mark in school infrastructure financing this month. Since its inception, the MSBA has provided local reimbursements for hundreds of school projects, and MSBA officials commended the collaborative partnerships with school districts that help move projects from idea to reality.
The MSBA is funded with one penny of the state sales tax for every dollar spent. This dedicated stream of revenue allows the agency to provide reimbursement to cities and towns on school building projects that have been approved as priorities. The timely payments that the MSBA provides to municipalities have saved cities and towns over $2.9 billion in avoided local interest costs.
The Auburn School District has received $23,018,411 from the Massachusetts School Building Authority since 2004.