Colleges to receive second round of Building Our Future Bond funding

On Monday, Gov. Chris Christie announced a second round of grant funding from the 2012 Building Our Future Bond Act for a Fall 2015 grant cycle. New grant awards will be made from the Higher Education Capital Improvement Fund.“To keep more of our best students in New Jersey and to make our colleges and universities more attractive research partners for industries looking to bring good-paying jobs and businesses here, we must have modern educational facilities in order to remain competitive,” said Christie. “Through this second round of funding, we’re making $180 million available to help build, repair and update these critically needed academic facilities.”

Secretary of Higher Education Rochelle Hendricks added that these grants were essential in keeping the state’s institutions competitive with others around the globe.

“We are renewing our commitment today to provide modern, world-class facilities that will help New Jersey higher education remain competitive with the finest institutions in the world,” she said.

Approved in a vote by New Jersey citizens and signed by Christie, the 2012 Building Our Future Bond Act was the first state-backed funding for higher education construction in 25 years and authorized up to $750 million in state grants for new academic facilities. Combined with grant funding made available from other state-supported grant programs for higher education facilities, the Christie administration authorized nearly $1.3 billion in grants in 2013. These covered 176 projects at 46 institutions for cutting-edge research laboratories, computerized classrooms and cyber-networks that allow students and faculty to interact with colleagues around the world.

In the new Fall 2015 grant cycle, institutions will compete for funding by submitting proposals to the secretary. Funds will be awarded to projects that meet state priorities and help students prepare for high-demand fields.