M E M O R A N D U M

		November 17, 2010	
				       
To:	Members of the Board of Trustees	

From:  	Nancy L. Zimpher, Chancellor

Subject: 	Approval of Community College Capital Project Budget � Bond Financed

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	I recommend that the Board of Trustees adopt the following resolution:

	Resolved that the applications of the local sponsors of the community colleges identified below to the Dormitory Authority of the State of New York for financing of the State�s share of capital costs of the projects identified below, being in accordance with Chapter 53 of the Laws of 2010, be, and hereby are, approved; and, be it further
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	Resolved that the Chancellor, or designee, be, and hereby is, authorized to approve in the name of and on behalf of the State University of New York, in accordance with Chapters 464 and 465 of the Laws of 1972, any and all executed disbursement and use agreements between each such local sponsor and the Dormitory Authority of the State of New York in support of the application of such local sponsor for capital construction financing approved herewith; and, be it further
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	Resolved that the Chancellor, or designee, be, and hereby is, authorized to transmit such applications and disbursement and use agreements, as shall be approved pursuant to this resolution, to the State Director of the Budget for appropriate action.
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	COLUMBIA-GREENE COMMUNITY COLLEGE

	Resolved that the applications of the Legislature of Columbia County and the Legislature of Greene County, local sponsors for Columbia-Greene Community College, to the Dormitory Authority of the State of New York for financing of the State�s share in the amount not to exceed $950,000 of the total capital cost of $1,900,000 for the Capital Reinvestment Project, being in accordance with Chapter 53 of the Laws of 2010, be, and hereby are, approved.

MONROE COMMUNITY COLLEGE
	
	Resolved that the application of the Legislature of Monroe County, the local sponsor for Monroe Community College, to the Dormitory Authority of the State of New York for financing of the State�s share in the amount not to exceed $250,000 of the total capital cost of $500,000 for the Dental Lab Renovation Project, being in accordance with Chapter 53 of the Laws of 2010, be, and hereby is, approved.

	SULLIVAN COUNTY COMMUNITY COLLEGE

	Resolved that the application of the Legislature of Sullivan County, the local sponsor for Sullivan County Community College, to the Dormitory Authority of the State of New York for financing of the State�s share in the amount not to exceed $200,000 of the total capital cost of $400,000 for the Herman Memorial Library Roof Replacement Project, being in accordance with Chapter 53 of the Laws of 2010, be, and hereby is, approved.

Background

	The resolution authorizes the State�s one-half share of the capital cost of the community college projects described in the resolution.  The State�s one-half share will be funded by the proceeds of bonds issued by the Dormitory Authority of the State of New York.

	Once an appropriation for a capital project has been enacted, the State University Board may entertain a local sponsor�s application for the financing of the State�s share with proceeds of bonds issued by the Dormitory Authority of the State of New York (8 NYCRR �603.1(b)).  A resolution by each local sponsor which authorizes the local share of project costs has been received for each project.
Board Resolution	- 3 -	March 11, 2008




Board Resolution	-2-	November 17, 2010