FAQ – Financial

The Massachusetts School Building Authority (“MSBA”) is a quasi-independent government authority created to reform the process of funding capital improvement projects in the Commonwealth’s public schools. The MSBA strives to work with local communities to create affordable, sustainable, and energy-efficient schools across Massachusetts.

The MSBA has worked closely with the District and Neary Building Committee to ensure the maximum return from the Core Building Program. We estimate that the MSBA will contribute significantly to the qualified portions of the building project.

Total Project Cost: $108,517,025

Expected MSBA Grant: $35,279,062

Expected Federal/State Geothermal Energy Credits: $5,035,697

Net Estimated Project Cost to Town: $68,202,266

Estimated Annual Debt Service (30-year bond at 4.25%): $4,070,000

Less: K–8 Operational Savings (from FTE reductions): $1,195,354

Net Estimated Annual Cost of Project: $2,874,646

Estimated Annual Tax Impact per Average Household (home value: $1,245,274): $703