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District submits schematic design to MSBA; project team estimates $166–$168 million local share
Summary
District staff told the school committee they submitted the schematic design to the Massachusetts School Building Authority; the MSBA will review budget, schedule and eligibility on Oct. 30 and consult with the district. Consultants projected a roughly $14 million first-year cash-flow need and staff outlined a plan to use short-term borrowing if required.
District staff said the South Shore Regional Vocational Technical district has submitted its schematic design to the Massachusetts School Building Authority and is awaiting the authority’s review of the design, schedule and budget.
"We submitted to the MSBA a couple weeks back," Kevin said, describing the materials the district provided and outlining the next steps in the state review. Staff said the MSBA will meet with the district on Oct. 30; that MSBA determination will be pivotal to securing state reimbursement and moving the project to a town vote in January 2025.
A member of the committee said the project team has "ballparked" the district's local share in the range of $166 million to $168 million, a figure staff said will be refined after MSBA feedback. Kevin cautioned that state reimbursement can exclude certain costs and that the district will receive a detailed MSBA analysis that will determine the final district share.
District and project consultants also discussed short-term cash-flow planning. Consultants have projected an initial cash-flow need of about $14 million in the project's first fiscal year if construction begins in January 2025; staff said the district is likely to consider a bond anticipation note (interest-only in the near term) to bridge that need and would include any interest projections in each town’s assessment in FY26.
Dr Hickey reiterated the timeline: staff will report MSBA findings after the authority's review and return to committees with updated financial impacts, followed by the formal town vote expected in January.
What happens next: MSBA review of the schematic design on Oct. 30, district receipt of MSBA findings, updated town-level financial impacts prepared by staff and consultants, and a probable January 2025 town vote on the project.
