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Clarkson University Will Seek $1.4 Million From Capital Matching Grants Program Announced By Governor Pataki
The Capital Matching Grants Program for more than 100 independent colleges and universities as proposed by Governor Pataki in his State of the State Address in January 2004 became fact Wednesday when the $150 million program was approved in the state budget.
The infusion of capital by New York State is expected to spark more than $2 billion in projects on the campuses of independent colleges and universities over the next five years. In order to qualify for the matching funds, private higher education institutions will be required to raise $3 for every $1 in state matching grants. The money must be utilized for projects that initiate economic development, support high technology, or are related to critical academic facilities and/or urban renewal and historic preservation.
“As a president of a New York university and board member of the Commission on Independent Colleges and Universities, I commend Governor Pataki, our state senators, and members of the assembly, particularly Senators Ray Meier and Jim Wright, as well as Assembly Members Darrel Aubertine and Dede Scozzafava for investing in private higher education in a way that stimulates our economy,” said Clarkson President Tony Collins. “Their action sends the right message about the kinds of partnerships that institutions like Clarkson are creating with private industry and New York State to spur regional job growth and commercial opportunities.”
The impact that the Capital Matching Grants Program could have in New York is significant. Estimates are that as many as 6,800 jobs could be created in construction and related services.
The formula adopted by the state budget takes into consideration the size of the campus and the family income of the student body. Clarkson anticipates requesting approximately $1.4 million based on the formula for eligibility outlined in the legislation.
“Clarkson is in the process of a comprehensive review of all its capital project needs and funding alternatives,” said University spokesman Rick Burt. “Certainly renovations to the University library will receive strong consideration for our application to the Matching Grants Program, but we want to consider all our options under the program guidelines.”