Tuesday, July 5, 2022

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Higher Education Facilities Trust Fund (HEFT) (New Jersey)

 
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    CFDA#

     

    Funder Type

    State Government

    IT Classification

    A - Primarily intended to fund technology

    Authority

    New Jersey Educational Facilities Authority

    Summary

    New Jersey has an intense concentration of high technology industries and research facilities and is the headquarters of some of the world's most productive corporations. In the last decade of the 20th century, it has become obvious that New Jersey's institutions of higher education will have to change and improve their educational and research facilities in order not only to prepare students to fill existing jobs in a highly technical world, but also to create new jobs as well.  If New Jersey is to maintain the expansion of its economic development and continue to provide an adequately trained work force to retain and attract industry to the State, New Jersey's public and private institutions of higher education must be strengthened to provide services to meet the needs of the 21st century. 

    The Higher Education Facilities Trust Fund (HEFT) Program provides grants to New Jersey's public and private institutions of higher education for the cost, or a portion of the cost, of the construction, reconstruction, development, extension, and improvement of instructional, laboratory, communication, and research facilities.


    Projects will be evaluated based on the following criteria:

    • The improvement and expansion of educational opportunities for students;
    • The promotion of academic research excellence, workforce readiness, and
    • the enhancement of the State's academic and economic competitiveness and
    • prosperity by assisting in the production of a highly skilled workforce;
    • Consistency with the institution's educational mission;
    • Consistency with the institution's long-range facilities plan;
    • The cost effectiveness of the Project;
    • The degree to which the Project is construction ready;
    • Demonstrated commitment over the past ten (10) years to appropriate
    • maintenance of facilities previously funded by State of New Jersey grant
    • programs;
    • The degree to which the Project increases capacity for industry-valued
    • credentialing programs and experiential learning opportunities;
    • How the Project enriches existing materials and coursework that support
    • current academic curricula; and
    • Preference will be given to Projects that promote energy efficiency
     

    History of Funding

    None is available.

    Additional Information

    The HEFT program will be funded by money received from the issuance of bonds, an annual appropriation from the net proceeds of the State lottery established in an amount sufficient to pay the principal and interest on the bonds or notes, any money appropriated directly by the state for the purpose of this program, and all interest and investment earnings received on the money in the fund.


    For the purposes of this program the statute defines "South Jersey multi-institutional economic development facilities" as facilities that would promote economic development in the eight southernmost counties of the State and which involve more than one public or private institution of higher education.

    Contacts

     

  • Eligibility Details

    Eligibility is limited to public or private institutions of higher education that are eligible to receive State aid. A public institution of higher education is defined as Rutgers, the State University of New Jersey, the State colleges, the New Jersey Institute of Technology, Rowan University, Montclair State University, Kean University, the county colleges, and any other public university or college.

    A private four-year institution of higher education is defined as an independent college or university incorporated and located in New Jersey that is a nonprofit educational institution authorized to grant academic degrees and that provides a level of education that is equivalent to the education provided by the State's public institutions of higher education.

    Deadline Details

    Applications are to be submitted by September 7, 2022. For further information and future updates please check the program page frequently.

    Funds for the grant will not be disbursed until the Secretary certifies approval of the grant, subject to the approval of the State Legislature, the New Jersey Educational Facilities Authority issues the necessary bonds, and requisite grant agreements have been executed by grantees.

    Award Details

    The total amount of grant funds available for new grants under the Summer 2022 Cycle is $89,695,000. This is a bond-funded grant program. As bonds are paid off, new bonding capacity will become available to fund new grants up to a total of $200,000,000. The statute allows for funds to be allocated in the following manner over the life of the program (~10 years):

    • $48,000,000 for facilities at the State Colleges;
    • $38,880,000 for facilities at Rutgers, The State University;
    • $20,160,000 for facilities at the University of Medicine and Dentistry of New Jersey;
    • $12,960,000 for facilities at the New Jersey Institute of Technology;
    • $44,000,000 for facilities at the county colleges;
    • $21,000,000 for facilities at the private institutions of higher education;
    • $15,000,000 for South Jersey multi-institutional economic development facilities.
    • $20,000,000 for a new facility for Rutgers, The State University, School of Law, Newark

    No institutional match or contribution to debt service is required.

    Related Webcasts Use the links below to view the recorded playback of these webcasts


    • Funding Classroom Technology to Empower Students and Teachers - Sponsored by Panasonic - Playback Available
    • Maximizing Technology-friendly Workforce Development Grants - Sponsored by Panasonic - Playback Available
    • Funding Data-driven Workforce Development Projects - Sponsored by NetApp - Playback Available

 

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