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Marlborough officials present $160.5M bond request for Richard K–5 school and $6.3M stormwater work
Summary
Officials introduced a bond authorization packet seeking $160,544,091 to build the Richard K–5 elementary school and $6,300,000 for stormwater capital improvements; the city awaits an MSBA reimbursement determination at its June 24 meeting and plans a council vote on July 20.
City officials presented a bond authorization request for a proposed Richard K–5 elementary school that seeks $160,544,091 for construction and an additional $6,300,000 for stormwater capital improvements.
Officials said the project has completed several milestones, including selecting an owner's project manager and finishing a feasibility study and schematic design. "Our journey toward a new Richard School began in the summer of 2024," the presenter said, and the city will receive a final determination of its reimbursement from the MSBA at the MSBA's June 24 meeting.
Because the MSBA's reimbursement rate affects the city's net cost, officials said they submitted the council packet so the council could approve the bonds and project cost at the Marlborough City Council meeting scheduled for July 20. No final city council authorization was recorded in the transcript; the item was introduced and advanced for later council consideration.
The presenter also identified a $6.3 million capital request for stormwater flooding work tied to the project. City staff framed the bond authorization as part of the funding process used to finance and cover project costs and noted that the city's final cost will be determined after the MSBA vote.
Next steps for the project are the MSBA reimbursement determination and a formal city council vote to authorize bonding and set the project's reflected cost in the city record.
