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Finance committee backs $160.5 million Richards K–5 bond; MSBA reimbursement expected to cover majority of costs
Summary
The Marlborough City Finance Committee voted 5–0 on July 13 to approve a $160,544,091 bond authorization for the Richards K–5 school project. Project presenters said MSBA reimbursement is expected to cover roughly 63% of total costs, the city appropriated $2 million previously, and planners outlined a Fall 2029 opening target and linked stormwater work estimated at roughly $5 million.
The Marlborough City Finance Committee on July 13 approved, by a 5–0 vote, a bond authorization of $160,544,091 for the Richards K–5 elementary school project, advancing the project toward a planned Fall 2029 opening.
Christopher Eberly, project executive for the Vertex Companies, told the committee the total project budget in the packet was $162,544,091 inclusive of prior appropriations and that the city had already appropriated $2,000,000 for the feasibility study. He said the Massachusetts School Building Authority (MSBA) review found about 86% of the budget eligible for reimbursement and that the effective reimbursement would work out to roughly 63% of total costs after caps and category adjustments. Eberly cited an MSBA-funded reimbursement amount of about $103,134,993 under the presented scenario and described multiple budget scenarios showing how bid results and contingency use would change the city’s net cost.
Eberly outlined schedule milestones: procurement of a construction manager (CM) in October, design development by year-end, early construction packages in March, and full bid documents roughly one year out. He said the project is about 30% through design and that the team is focused on disciplined decisions to keep costs manageable. “The best dollar is the one not spent,” Eberly said, summarizing the approach to value and contingency management.
Project partners explained the stormwater issue adjacent to the school site: HydroCAD modeling by the civil designer showed recurrent flooding at Ripley and McGee avenues and wetlands that tie into Millham Brook. City engineer Tom DiPercio told the committee the trunk drain lines constructed when the neighborhood was built are now undersized; potential fixes include upsizing the trunk line and work tied to MassDOT infrastructure (a stilling basin and a drainage channel). Vertex said two preferred stormwater options in the study would carry roughly $5,000,000 in construction costs plus about $1,300,000 in design/contingency if handled as a separate DPW project; MSBA requires the stormwater work to be run separately from the MSBA-funded school project.
On municipal finance impacts, city staff said the average median homeowner would see an annual tax impact of about $193.23 under the plan, with a highest single-year impact near $275.50. The comptroller (Brian) explained that the city uses a level-principal bond schedule that front-loads payments (and tax impact) to avoid adding long-term interest costs.
A councilor moved to approve the Richards K–5 bond authorization and appropriation; the motion was seconded and passed 5–0 with the committee agreeing to suspend rules to advertise the item prior to reporting it to the full City Council.
Next steps include entering a project scope and budget agreement with MSBA pending final financing approval, continuing design with LPA and Vertex, and procuring a construction manager.
