Mercy College has been awarded a $3.5 million grant from the Board of the New York State Higher Education Capital Matching Grant Program (HECap) to support renovations to the college’s main campus in Dobbs Ferry.
“We are proud to have been awarded this funding to support renovations to the Dobbs Ferry campus. These renovations will be vital to our continuing efforts to improve and enhance services to our students, as well as provide additional space for expanded academic programs,” says Mercy College President Dr. Kimberly R. Cline.
More than $58 million in grants has been awarded to independent colleges and universities across New York State. The funds will support 48 different projects, leverage an additional $484 million in local investment and are expected to create more than 4,800 construction jobs and 2,200 related industry jobs.
“I am pleased to announce the award of these matching capital grants to New York’s colleges and universities. The HECap program provides another avenue for State investment in the higher education sector and a powerful economic and academic stimulus for students and families throughout New York,” said Governor David Paterson. “… the HECap program will help further solidify New York State as a leader in the global knowledge economy.”
HECap provides a $1 match for every $3 raised for capital investment at New York’s independent (private not-for-profit) institutions of higher education. Funds are distributed according to a formula that considers such factors as overall student enrollment, student body financial need and size of existing and planned campus facilities. This distribution recognizes the role that private colleges and universities play in providing higher education access to low- and moderate-income students.
This announcement represents the second round of awards in the $150 million program created in the 2005-2006 Enacted Budget. For more information, view Governor Paterson’s press release.