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MSBA approves funding agreement for NRHS build

Massachusetts School Building Authority Approves Project Funding Agreement with Nashoba Regional School District for New High School Construction

Bolton, Mass. (September 1, 2023) –  On August 30th, 2023 the Massachusetts School Building Authority’s (MSBA) Board of Directors voted unanimously to approve a project funding agreement with the Nashoba Regional School District for the construction of a new Nashoba Regional High School. This collaborative effort is a significant development in providing improved educational facilities for the students and district towns of Bolton, Lancaster, and Stow.

Superintendent Downing, expressed his appreciation, stating, “We are thankful for the support of the Massachusetts School Building Authority in this endeavor. This funding agreement represents a significant step towards providing our students with the necessary facilities to support their education.”

The Nashoba Regional School District School Committee voted to incur debt for the Nashoba Regional High School Building Project during its August 2, 2023 meeting. Per the regional agreement, each member town’s share is determined based on their pupil enrollment in the school on an annual basis.  Using FY24 enrollment data the shares and estimated construction cost totals for all three towns are:

  • Estimated Total Project Cost -$241,714,926
  • MSBA Contribution – $64,811,362
  • Total Taxpayer Contribution – $176,903,564
  • Estimated Bolton Share: 31.87% ($56,379,165)
  • Estimated Lancaster Share: 32.97% ($58,325,105)
  • Estimated Stow Share: 35.16% ($62,199,293)

Ross Mulkerin, Nashoba’s Director of Finance and Operations, commented, “As we have moved through the final stages of approval with the MSBA and approach the town meetings, we have begun a process of modeling the bonding of this important project.  Along with our financial advisors, our bonding advisory group, made up of member town finance committees and town employees, has helped us review models and bring definition and clarity to potential bonding strategies.”