After a lengthy review, the state this week announced it is releasing $46.6 million in a grant for the controversial new $195.2 million Newton North High School, the most expensive school ever built in the state.
Massachusetts School Building Authority officials, who have been critical of the project in the past, said they were satisfied with the documents Newton submitted describing the project's budget and scope. The city can expect to receive an initial payment of $28.7 million for the project Monday, said Katherine Craven, executive director of the building authority.
"This is great from the Newton taxpayer's perspective," Craven said yesterday. "It's the bird in the hand, having our cash in Newton's treasury, given that the ability to borrow has been so rocky lately. This reduces their borrowing costs, at least in the short term."
Newton spokesman Jeremy Solomon called the move "an important step in the Newton North project and especially its financing."
In addition to the $46.6 million announced yesterday, about $15 million of the project will be funded by a low-interest loan from the School Building Authority and the remainder through long-term borrowing by the city, Solomon said.
A showplace originally designed by the internationally renowned architectural firm Graham Gund, the school is expected to feature a student restaurant; a zigzag shape to allow maximum sunlight; and an indoor pool. It became a symbol of excess to taxpayers, especially in the last two years when the city disclosed that the price tag had grown from $141 million to $195.2 million in a span of about 15 months.
State Treasurer Timothy P. Cahill has called Newton the "poster child" for the old school building system, which critics say let costs rise unchecked. Newton's $46.6 million grant was approved under the old system.
The solution, MSBA officials have said, is more oversight. The grant to Newton will be paid out under the oversight guidelines of the new system, which the Legislature enacted in 2004. Under new guidelines, the state audits each cost a community incurs in building a school. Newton must submit its invoices, be audited, and receive grant money in various increments over the life of the project.
To date, Newton has submitted invoices for $48.8 million in expenses, of which about $900,000 was spent on things such as legal fees and doesn't qualify for state reimbursement. The state will reimburse Newton for 60 percent of all expenses that qualify, with a cap of $46.6 million, Craven said.
The release of this grant also means Newton can move forward in the process for other school building projects. The city submitted 15 elementary schools for consideration, and the authority expects to discuss future plans in the next few months, Craven said.
The authority has a "couple of hundred" other projects around the state in the same position as Newton's elementary schools, Craven said, and is sending teams of people out to prioritize projects and identify solutions.
The new Newton North High School is expected to open in September 2010.
Rachana Rathi can be reached at
rrathi@globe.com.
