Treasury Department Announces New York’s Capital Projects Fund Award

The US Department of the Treasury announced the approval of high-speed internet projects in New York under the American Rescue Plan’s (ARPA) Capital Projects Fund (CPF). The state will use its funding to connect nearly 100,000 low-income housing units to affordable, high-speed internet. A key priority of the CPF program is making funding available for reliable, affordable high-speed broadband infrastructure, advancing President Biden’s goal of affordable, reliable, high-speed internet for everyone in America. New York is approved to receive $100 million for high-speed internet infrastructure, which the state estimates will connect roughly 100,000 households and businesses to high-speed internet access. New York’s award will fund the state’s Affordable Housing Connectivity Program, a competitive grant program designed to fund high-speed, reliable broadband infrastructure to and within low-income housing buildings. CPF funds will be used to upgrade internet access in affordable housing units. The plan submitted to Treasury and being approved today represents 29% of the state’s total allocation under the CPF program. New York submitted plans for the remainder of their CPFs and these applications are currently under review by Treasury.