Code of Massachusetts Regulations
963 CMR - MASS. SCHOOL BUILDING AUTHORITY
Title 963 CMR 2.00 - School Building Grant Program
Section 2.21 - Closing Schools
Current through Register 1518, March 29, 2024
(1) A school district shall notify the Authority in writing, in a format prescribed by the Authority, six months prior to the sale, lease or removal from service as a public school building of any school facility, or portion thereof, in said district. The school district also shall submit:
(2) If the Authority determines that said facility that will be sold, leased or removed from service is an Assisted Facility or was an Assisted Facility that has received a payment from the Authority or the Commonwealth, but has not met the 50-year service requirement, the Authority may recapture a portion of the financial assistance that said Assisted Facility has received.
(3) A final Audit of the Assisted Facility must be completed to determine the final cost of the project.
(4) The sale, lease or removal from service of the Assisted Facility, or portion of that facility, shall be for no less than fair market value as determined by independent appraisal as agreed to by the Authority, unless the school district receives prior written approval from the Authority to do otherwise, and the proceeds from the sale or lease, or the determined fair market value for a facility removed from service, shall be divided between the Authority and the general funds of the applicable school district in proportion to the Commonwealth's and/or Authority's prior investments in the Assisted Facility.
(5) If a school district were to apply to the Authority for a grant, after having sold, leased or removed from service a school facility, said district may be eligible for a grant only if the Authority determines that the grant is not for the purpose of replacing a school facility sold, leased, or removed from service in the past ten years or that the need for the grant could not have been reasonably anticipated at the time of the sale, lease, or removal from service.
(6) The Authority may issue additional guidelines to recapture Commonwealth and/or Authority assistance for Assisted Facilities that are sold, leased or removed from service.
