Higher Education Facilities Capital Matching Grants Program

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

Mission

The FY 2006 Enacted Budget authorized the creation of the $150 million Higher Education Facilities Capital Matching Grant Program (HECap) to support capital projects at the State's various independent colleges and universities. Projects were selected through a formula-driven process and were required to have a three to one (non-State to State) dollar match by eligible academic institutions. Legislation enacted in 2013 extended the HECap program and established a competitive process for grant awards moving forward.

Organization and Staffing

The HECap Program is governed by a three-member Board appointed by the Governor, one of whom is appointed upon the recommendation of the Temporary President of the Senate, and one of whom is appointed upon the recommendation of the Speaker of the Assembly. The Dormitory Authority of the State of New York (DASNY) acts as staff to the board as well as administering grant awards.

Budget Highlights

The FY 2022 Executive Budget includes $143 million in reappropriation authority for HECap projects not yet fully disbursed. Once fully implemented, HECap will leverage more than $900 million in external funds to match the State’s $300 million investment thereby providing for a combined capital program totaling $1.2 billion. The State’s share of the program is financed through the issuance of bonds.

Program Highlights

HECap grants have supported more than 246 projects at private institutions. Grant funding has been used to improve critical academic facilities, drive economic development and high technology projects as well as foster urban renewal and historical preservation.

Note: Most recent estimates as of 01/19/2021