The State University Construction Fund was established as a public benefit corporation in 1962 (Chapter 251) to reduce the time between inception and completion of new facilities for SUNY campuses. The fund was to be guided by the assumption that SUNY's enrollment would more than double in the next ten years. Before the fund was created, construction of SUNY facilities was chiefly the responsibility of the Department of Public Works with the Division of the Budget closely monitoring expenditures. In 1959 the governor and the Board of Regents of The University of the State of New York appointed a three-member Committee on Higher Education to review and make recommendations concerning higher education needs and facilities in New York State. The committee reported in 1960 that the process by which facilities planning and construction was carried out was not satisfactory to meet the expected rapid growth in SUNY enrollments. The committee's report was partly responsible for the eventual creation of the fund. The State University Construction Fund is administered by a board of three trustees appointed by the governor, at least one of whom must be a trustee of the State University; the appointment of the other two trustees must be confirmed by the senate.
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The State University Construction Fund is a public-benefit corporation responsible for construction projects on all State-operated campuses of the State University of New York (SUNY). It provides for planning, design, and construction of new facilities and rehabilitation of existing facilities. The Construction Fund consults with SUNY on space requirements, as outlined in the SUNY Master Plan, and then contracts with private architects, engineers, and builders to produce facilities. In addition, the fund provides in-house design services for a variety of rehabilitation/alteration types of projects. New projects are primarily funded with the proceeds from bond sales. From its inception through 1981, the Housing Finance Agency served as the bonding agent; subsequently, bonding was performed for the Fund by the Dormitory Authority of the State of New York.
