Higher Education Facilities Capital Matching Grants Program
skip breadcrumbsAgency 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.
Budget Highlights
The FY 2017 Executive Budget includes $30 million in appropriation authority to support a new round of competitive HECap projects and $74.5 million in reappropriation authority for HECap projects not yet fully disbursed. Once fully implemented, HECap will leverage more than $720 million in external funds to match the State’s $240 million investment across all four rounds, thereby providing for a combined capital program totaling $960 million. The State’s share of the program is financed through the issuance of bonds.
| Category | Available 2015-16 |
Appropriations Recommended 2016-17 |
Change From 2015-16 |
Reappropriations Recommended 2016-17 |
|---|---|---|---|---|
| Capital Projects | 30,000,000 | 30,000,000 | 0 | 74,536,000 |
| Total | 30,000,000 | 30,000,000 | 0 | 74,536,000 |
Note: Most recent estimates as of 01/13/2016