Public approval of a $750 million bond issue referendum for higher education on the November 6, 2012, general election ballot will open up new revenue sources for the College of Saint Elizabeth (CSE) to further upgrade academic facilities on campus. If passed, the Building Our Future Bond Act will be the first time in 24 years that the state has provided capital construction funding for our universities and colleges. Of the $750 million total, $52.5 million will be available for the state’s private institutions with an endowment of $1 billion or less. Institutions that receive the grant money will be required to use the funds for construction of academic and research facilities, and match 25 percent of project costs with their own funding.
“If approved, the money will support construction of academic facilities only.The projects will strengthen higher education in New Jersey and increase the number and quality of our graduates,” Brian Markison, guest columnist for The Star-Ledger wrote on October 10, 2012. “Gov. Chris Christie and the Legislature support the ballot measure because one, they recognize spending $750 million on college campuses will create jobs, and two, they appreciate it is both overdue and essential if our colleges and universities are to serve the needs of the state, its students and business community.”
As part of the voter registration drive underway on CSE’s campus, students are encouraged to vote, and support the Building our Futures Bond Act. That drive is being coordinated by the offices of CSE Student Life and CSE Career Services.
In August 2012, Governor Christie signed legislation for the $750 million bond issue referendum which has strong bipartisan support. Public approval on the November 6, 2012 ballot is now required.