Independent Colleges, Universities Slated For Matching Grants Under New State Budget

Albany, N.Y.--The 2005-06 New York State budget includes a new "Higher Education Capital Matching Grants" program that includesfunding forindependent colleges and universitiesstatewide, includingseveral throghout the Southern Tier-Finger Lakes region, according to State Senator George H. Winner, Jr. (R-C, Elmira).

"Our independent colleges and universities will be able to access this state funding to advance capital projects including the construction of new facilities and equipment purchases," said Winner, a member of the Senate Higher Education Committee. "This higher education matching grants program is envisioned as a meaningful state investment in a vital segment of many regional economies, including the Southern Tier-Finger Lakes region."

The program allocates funding on a formula basis and will be administered by the state Dormitory Authority through a newly created Higher Education Capital Matching Grants Board. The board will evaluate and approve grant applications. Eligible projects will include those advancing critical academic facilities, economic development/high-technology and urban renewal/historic preservation. Colleges and universities are required to raise $3 in non-state funds for each dollar received under the state program.

Winnersaid that the region’s independent colleges and universities are eligible for the following matching grants through the new Higher Education Capital Matching Grants program:

> Cornell University, $3,772,156;

> Elmira College, $644,873;

> Ithaca College, $2,239,628; and

> Keuka College, $750,868.