Higher Education Facilities Capital Matching Grants Program

Agency Web Site: https://www.dasny.org/about/what-we-do/grants-administration/hecap-board

Budget Highlights

The 2006-07 Budget included a new $150 million higher education facilities capital matching grant program for private colleges in New York. Under this program, $150 million will be awarded to private colleges based on enrollment and relative student financial need as measured by total awards provided through the Tuition Assistance Program. This program generally requires a three-to-one (non-State-to-State) match by institutions.

Under this program, grants are awarded by the Higher Education Capital Matching Grant Board consisting of three members (one appointed directly by the Governor with the remaining members appointed upon the recommendation of the President of the Senate and the Speaker of the Assembly) serving one year terms. Grants may be used for the design, construction or acquisition of new facilities, rehabilitation and repair of existing facilities or for any projects for targeted priorities including economic development/high technology (including wet labs), critical academic facilities and urban renewal/historic preservation. To date, 123 capital projects have been approved, generating over $126 million in capital matching grants from the State.

This program, once fully implemented, will leverage over $450 million in external funds to match the State’s $150 million investment, thereby providing for a combined capital program totaling $600 million. The State’s share of the program will be financed through the issuance of bonds.

The 2012-13 Executive Budget continues $150 million in reappropriation authority for both approved grants and those yet to be determined by the Board and extends the program to allow for full implementation.

Note: Most recent estimates as of 1/17/2012

Click for additional detailed appropriation tables