The Massachusetts State College Building Authority was established by the Legislature in 1963 to plan, design, finance, and construct housing and student activity facilities for the following nine campuses: Bridgewater State University, Fitchburg State University, Framingham State University, Massachusetts College of Art and Design, Massachusetts College of Liberal Arts, Massachusetts Maritime Academy, Salem State University, Westfield State University, and Worcester State University.
To fund its work, the Authority issues revenue bonds and applies student rent and fees to pay the cost of debt service, operations, and reserves for its projects. Rent and fees must be adequate to cover all project expenses while maintaining the lowest possible cost to students.
Approximately 13,000 students reside in the 40 residential complexes owned by the Authority; these facilities house one-third of full-time undergraduate students and comprise about three million square feet of space in approximately 90 separate structures on the nine state university campuses.
STUDENT ACTIVITY FACILITIES
Since 1998, in coordination with the Division of Capital Asset Management (DCAM) and the Board of Higher Education (BHE), the MSCBA has become more involved in the planning, financing and development of student life facilities which complement programs provided in residence halls. These include dining, parking, athletic, bookstore, and other revenue-producing facilities.
The Building Authority employs prudent master, capital and financial planning in the assessment and implementation of these projects and the institutions' goals.
The projects are financed through:
- revenue bonds that are repaid through student fees
- vendor contributions
- university operating and reserve funds