HOLYOKE — The city is on track to save almost $12 million on its middle school building project after the Massachusetts School Building Authority boosted its reimbursements with money included in the state’s fiscal year 2024 budget.
Holyoke Public Schools announced Thursday that the additional money, estimated at $11.7 million, would raise the MSBA’s contribution to the $85.5 million project to an estimated $57.6 million. This would reduce Holyoke’s share of construction costs to approximately $27 million, or 32% of the total cost, the school district said.
After funding was approved in June for the new, 550-student school to replace the William R. Peck Middle School, Holyoke officials learned in September that construction cost projections had come in more than $4 million lower than previously estimated.
Demolition of the old school began two weeks ago, and will continue until December. Construction of the 105,000-square-foot building is expected to begin in February and last 18 months, with an opening planned for the fall of 2025.
The MSBA in June granted Holyoke $46 million to fund the new building, leaving the city to pay the remaining $40 million. Avoiding a tax override, the city’s financing plan involves long-term bonds and federal funds from the American Rescue Plan Act and Elementary and Secondary School Emergency Relief Fund.
State Sen. John Velis, D-Westfield, said the Senate fought to raise the annual cap on MSBA grants and boost supplemental funding for previously approved school building projects.
“Our children deserve to be educated in school buildings and classrooms that are equipped with the resources that meet the needs of modern-day education,” Velis said in a statement, noting that the Peck School was an aging building in desperate need of replacement.
The next steps for the school project include finalizing construction documents and advertising for construction bids in two stages this month; completing demolition in December; and selecting the lowest qualified bidder early next year.