The Massachusetts State College Building Authority (the Authority) supports the nine state colleges: Bridgewater State College, Fitchburg State College, Framingham State College, Massachusetts College of Art and Design, Massachusetts College of Liberal Arts, Massachusetts Maritime Academy, Salem State College, Westfield State College, and Worcester State College.

The Authority issues revenue bonds, and manages the design and construction of revenue-funded student activity facilities on these campuses.

The MSCBA was established by Chapter 703 of Acts of 1963 as an Authority of the Commonwealth. Financing capacity was renewed by Chapter 290 of Acts of 1998. Authorization to use alternate construction procurement was provided by Section 260 of Chapter 127 of Acts of 1999.

The MSCBA houses approximately 12,000 students (about 35% of the full time students system-wide) each year in 3 million square feet of on-campus housing.

The MSCBA sets rents and user fees, makes certain that revenues are adequate to maintain the system and pay debt service at lowest possible cost to students. The MSCBA is revenue financed and receives no direct appropriation from the Commonwealth.

AUTHORITY

• Established in 1963, charged with financing, developing and overseeing maintenance of revenue-generating facilities at the nine State Colleges
• Component of Massachusetts Higher Education System

• 34,730 FTE students enrolled in State College system
• 11,890 beds in 3 million square feet and 45 residence hall complexes

• $47 million in annual rent revenue
• $26 million annual debt service
• No Commonwealth Appropriations
• $65 million in outstanding Commonwealth-guaranteed debt
• $310 million issued in non-guaranteed debt (Moodys: A1)
  

• revenue bonds that are repaid through student fees
• vendor contributions
• college operating and reserve funds