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1. What is the estimated total cost of the new elementary school?

Construction and equipping of the new elementary school is estimated to cost $98 million. This figure derives from two independent cost estimators that each projected the cost of the new building and then met to reconcile any differences between their two estimates and arrived at a single cost estimate. The estimated cost of the project includes contingencies for future cost escalation.

2. Is the Town getting any grant money to reduce the cost to the Town?

Yes, the Town has been accepted into the selective Massachusetts School Building Authority (MSBA) program and the MSBA is providing a maximum facility grant to the Town to reduce the cost to the Town, projected to be $43 million. The Town’s share of the cost of the new elementary school is projected to be $55 million before applying any other funding sources.

3. What else is the Town doing to reduce the cost?

The Town has partnered with Eversource to generate a maximum of $1.6 million of energy incentives/rebates and the Town Council has approved a Community Preservation Act grant in the amount of $700,000 to offset the cost of the fields.

Town officials worked with its State Legislators to advocate for an increase to the grant from the MSBA. These efforts resulted in over $3 million of additional grant funding.

The Elementary School Building Committee (ESBC) has reviewed project costs and identified over $5 million of cost saving measures from the initial estimate.

The Town will continue to pursue other funding opportunities such as new legislation that allows municipal entities to utilize payment in lieu of tax credits for energy sustainability improvements.