Senator Volker Announce Capital Funding For Western New York Colleges And Universities

Senator Dale M. Volker (R-C-I, Depew) today announced capital funding for Independent Colleges and Universities in the Western New York Region. The funds come from the $150 million dollar Capital Matching Grants Program included in the 2005-06 state budget chapter amendment approved by the State Legislature.

"We must never lose sight of the fact that in order for our private and public universities to stay competitive and attract the best and the brightest students throughout the nation, that we must make state resources available to invest in their capital needs," said Senator Dale M. Volker. "That is why New York’s private and public universities continue to be some of the best in the entire nation in educating our young people with the tools of knowledge that will bring about innovation, discoveries, public servants, and entrepreneurs. New York has made accessible and affordable education a priority, and these substantial capital investments for our colleges and universities will allow them to continue their mission in giving our young people opportunities to reach their professional and personal goals."

The grant funds are awarded on a formula basis, based on enrollment and TAP expenditures. Colleges and universities would be required to raise $3 in non-state funds for each dollar received under the Grant program. Eligible projects must relate to economic development, high technology, critical academic facilities and/or urban renewal and historic preservation.

According to the Commission on Independent Colleges and Universities (CICU), the program will create approximately 6,800 jobs in the construction and related service industries statewide.

The Higher Education Capital Matching Grants program for Independent Colleges and Universities is in addition to the more than $3 billion in the state budget for capital projects at SUNY and CUNY schools throughout the state.