Replacing or renovating all 3 elementary schools will cost more than 2X the cost of the current proposed elementary school for ALL.
Replacing or renovating all 3 elementary schools will take decades that we don’t have and cannot afford.
Meanwhile, taxpayers continue to pour money into obsolete buildings.
On June 23rd the Massachusetts School Building Authority (MSBA) committed $34,350,000 to the cost of our new twin elementary school.
The MSBA will not offer this support indefinitely; we need to vote this Fall to take this opportunity now.
The MSBA will not financially support replacing or renovating all 3 elementary schools – and we cannot afford to do it without MSBA funding!
Record low interest rates mean the new twin elementary schools are the most financially responsible option for Swampscott taxpayers.
A $34,350,000 grant from the MSBA makes the new twin elementary schools the most financially responsible option for Swampscott taxpayers.
The time to build is now. 30-year municipal bonds in Massachusetts recently issued at the amazingly low interest rate of 1.9%.
The new twin elementary schools will cost Swampscott taxpayers only .82 cents per day for median value single family home – because of Swampscott’s historically high financial reserves that will be used to offset the cost to taxpayers.
Swampscott’s Finance Committee, Capital Improvement Committee and Select Board unanimously support (with 1 abstention) the new twin elementary schools option as the most financially responsible option for Swampscott taxpayers.
Tenley, the Swampscott School Committee's student representative, introduces viewers to the current state of Swampscott's elementary schools.