DOH Releases Information on Capital Restructuring Financing Program
The Department of Health (DOH) has released new information concerning the Capital Restructuring Financing Program (CRFP) enacted as part of the 2014-15 Budget. Jointly administered by DOH and the Dormitory Authority of the State of New York (DASNY), the program will make available up to $1.2 billion in grants over the next six years for capital projects that will "enhance the quality, efficiency and financial viability of the state's health care delivery system." State-supported debt will serve as the source of the funds.
Eligible projects include, but are not limited to, "closures, mergers, restructuring, improvements to infrastructure, development of primary care service capacity, development of telehealth infrastructure, the promotion of integrated delivery systems that strengthen and protect continued access to essential health care services and other transformational projects." Expenditures eligible for payment under these grants include:
- The planning or design of the acquisition, construction, demolition, replacement, major repair or renovation of a fixed asset or assets, including the preparation and review of plans and specifications including engineering and other services;
- Construction costs;
- Renovation costs;
- Asset acquisitions; and,
- Equipment costs, including capital costs for health information technology.
Expenses incurred for operational purposes or for working capital purposes are expected to be ineligible for reimbursement through this program.
Although the statute authorizing this grant program provides for funding for both providers participating in Delivery System Reform Incentive Payment (DSRIP) program projects and those that are not participating in such projects, DOH has characterized the grants as complementing and supporting DSRIP. DOH advises DSRIP applicants to submit one CRFP grant application per PPS, along with their DSRIP project application. A CRFP application may include multiple projects, which will be scored separately. As required by statute, applications for the capital grants will be reviewed by the DSRIP advisory panel. A strong preference will be given to projects with "a close nexus to the DSRIP program’s health system transformational goals and a significant investment beyond CRFP funding."
LeadingAge NY will continue to post information concerning this program as it becomes available.
Contact: Diane Darbyshire, ddarbyshire@leadingageny.org, 518-867-8828