The basics:

• $250M in state-backed grants announced for NJ higher education
• $110M from Higher Education Capital Improvement Fund (CIF)
• $140M from Higher Education Facilities Trust Fund (HEFT)
• Grants support deferred maintenance, safety and modernization

The Murphy administration announced $250 million in capital facilities grant funding Aug. 18, available to support deferred maintenance needs at higher education institutions in New Jersey.

The funding comes via a joint solicitation of two state-backed, revolving bond programs. According to officials, it will help eligible public and private institutions of higher education pursue projects that promote the success and safety of students.

It breaks down like this:

• $110 million from the Higher Education Capital Improvement Fund (CIF)
  Aimed at providing grants for the cost (or portion of the cost) of the renewal, renovation, improvement, expansion, construction, and reconstruction of facilities and technology infrastructure
  Applicable institutions: Four-year public and private institutions of higher education that are eligible to receive state aid
• $140 million from the Higher Education Facilities Trust Fund (HEFT)
  Provides grants for the cost (or portion of the cost) of the construction, reconstruction, development, extension and improvement of instructional, laboratory, communication and research facilities
  Applicable institutions: Public and private institutions that are eligible to receive state aid (including county colleges)
• New Jersey City University will receive a portion of the grants toward deferred maintenance and other capital needs

“We are committed to leaving New Jersey’s higher education sector better than we found it: more accessible, more collaborative, and more resilient for the future,” said Gov. Phil Murphy in an Aug. 18 press release. “By leveraging the State’s bonding capacity, we’re helping institutions address critical repairs and improvement projects and reinforcing their role as engines of opportunity and economic growth across our communities.”

New Jersey Secretary of Higher Education Brian Bridges said students succeed when colleges and universities are strong.

“Which is why a state-level partnership to promote the long-term financial health of our institutions must remain a top priority,” said Bridges. “Capital funding continues to be an area of need, but today’s investment shows our commitment to maintaining safe, modern, and accessible campuses. It is a meaningful step in ensuring all students, now and in the future, have the opportunity to succeed within New Jersey’s diverse higher education ecosystem.”

Smart thinking

New Jersey Educational Facilities Authority Executive Director Sheryl Stitt said deferred maintenance needs continue to grow across the higher education sector nationally.

“And New Jersey is no exception,” said Stitt. “The funds provided by these grants will help the state’s colleges and universities address emergent maintenance and repairs at their physical plants at a time when resources are limited. The Authority is thrilled to once again be partnering with the Secretary and his office to facilitate these programs.”

Senate President Nick Scutari, D-22nd District, said this is an important investment in New Jersey’s future.

“This is an investment in the opportunities we offer our students so that they will pursue a higher education here in New Jersey,” said Scutari. “Supporting capital improvements to our colleges and universities will ensure that they continue to play a key role in educating generations of students who will benefit from quality facilities and modern technologies.”

Scutari’s legislative leadership counterpart – Assembly Speaker Craig Coughlin, D-19th District, also echoed that sentiment. Coughlin said investing in our colleges and universities is one of the smartest things we can do for New Jersey’s future.

“By putting resources into our higher education infrastructure, we’re creating safer, more innovative, and more accessible learning environments …” said Coughlin. “Modern facilities are essential to attracting and retaining students, and the grants announced today will have an impact that lasts for years to come.”