History taken from the State University Construction Fund website at https://www.sucf.suny.edu/about/history.cfm

The State University Construction Fund (Fund) was created in 1962 by Governor Rockefeller and the State Legislature. At that time, the State University of New York (SUNY) was expanding rapidly and had to compete with the other State agencies for construction of facilities by what is now the State Office of General Services. The Fund was established to expedite the completion of SUNY's $700 million master plan that would enable SUNY to accommodate double the number of students. In its first five years, from 1962 to 1967, the Fund completed 336 projects valued at $395 million and had an additional $205 million in projects under design.

The Fund is a public benefit corporation, governed by a three member Board of Trustees appointed by the Governor. One Fund trustee must also be a SUNY trustee….SUNY is the Fund's only client. The Fund has no authority to build for any other entity, and our sole mission is to act as an agent for SUNY to design, construct, acquire and improve State University facilities.

The Fund manages the capital projects for the educational facilities (all campus facilities excluding residence halls), and hospital facilities, on each of the state-operated campuses and hospitals. Capital projects for these facilities can also be managed by the campuses. The Fund coordinates funding and capital planning for both Fund and campus-managed projects. Residence hall projects are currently managed by the Dormitory Authority of the State of New York or by the campus.