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State Commits $400M to Higher Ed. Facilities

old Stockton building

By Herald Staff

NEW BRUNSWICK – New Jersey’s state schools are getting a big boost, with $400 million being committed to improve facilities. 
Gov. Phil Murphy announced Nov. 16 that the state will release the grant funding in a joint solicitation of four revolving bond programs.
In a statement issued by the governor’s office, Murphy referenced science labs and technology centers as some of the possibilities for how the money may be used.
“We want our high-achieving young people and out-of-state students to find the right college match in New Jersey,” stated Murphy. “We need to ensure our campuses include these critical resources to compete and win these young hearts and minds to seek their educational futures here.”
Both public and private institutions will be able to submit proposals in early 2022. The issuance will consist of funding from each of the following capital facilities bond programs:  

Higher Education Capital Improvement Fund (CIF): provides grants for the cost of renewal, renovation, improvement, expansion, construction and reconstruction of facilities and technology infrastructure  
Higher Education Facilities Trust (HEFT) Fund: provides grants for the construction, reconstruction, development, extension and improvement of instructional, laboratory, communication, and research facilities  
Higher Education Equipment Leasing Fund (ELF): provides grants to finance the purchase of equipment for lease to institutions  
Higher Education Technology Infrastructure (HETI) Fund: provides grants for the acquisition and installation of technology infrastructure within and among New Jersey’s institutions of higher education  

The programs were established to directly address funding for the preservation, renewal, and construction of facilities and equipment at institutions of higher education and the creation of a regular financing mechanism for this purpose. 
The Office of the Secretary of Higher Education anticipates offering awards in late 2022, pending legislative approval.  

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