Capital Transformation Grants Announced

On Feb. 15, 2023, Governor Hochul announced the award of $658 million in capital grants for 127 projects under the Statewide Health Care Facility Transformation Program (SHCFTP) to strengthen access to high-quality health care. Twenty-five awards were made in this round to long term care providers, totaling approximately $93 million. To date, under all three phases of the SHCFTP, approximately 12 percent of funds have been awarded to long term care providers.

According to the press release, the funding was awarded under the second phase of SHCFTP III and the first phase of SHCFTP IV. The State will award an additional $1.15 billion through later phases of SHCFTP IV, and the State Fiscal Year (SFY) 2023-24 Executive Budget includes $1 billion in additional funding to establish SHCFTP V.

A list of the awardees is available here. This has historically been an extremely competitive program, especially for long term care providers. LeadingAge NY will continue to advocate for long term care providers to be prioritized for capital funding.

Contact: Karen Lipson, klipson@leadingageny.org