2015-16 Access DASNY Masthead

DASNY News & Updates: October 2015

DASNY completes $43 million for SUNY in three short months

SUNY Logo 

DASNY staff members were hard at work over the summer serving SUNY customers. A core component of our work with SUNY is summer residence hall rehabilitation. Over a 90-day period, we successfully completed 31 SUNY summer projects at 12 campuses. These projects, provide innovative, sustainable and modern living spaces for students from throughout New York State, across the country and around the world. DASNY managed four additional major capital projects for SUNY valued at $62.2 million. These projects represent substantial economic activity for the local communities. 

  • At SUNY New Paltz, we completed Ridgeview Hall (shown below),a beautiful new $31.5 million residence hall that will be home to 225 students.

  • At Buffalo State College, we completed Tower One, a $12.7 million renovation project that is expected to receive LEED Silver Certification.

  • At SUNY Oswego, we completed the $11.5 million renovation of Waterbury Hall, which is now home to 224 students. The new building provides a healthier living space and an enhanced learning environment. In keeping with SUNY and DASNY's steadfast commitment to sustainability, construction waste was sorted, existing stone was reused, light pollution was reduced, a storm water system was installed, LED lights with timers were integrated into the building, auto shut-off faucets were fitted, refrigerants from the old, discarded drinking fountains were reclaimed, and new drinking fountains capable of filling water bottles were placed throughout.

  • At SUNY Plattsburgh’s Mason Hall, we completed a $6.5 million interior gut renovation, providing a fresh, new home to 199 students.
SUNY New Paltz's Ridgeview Hall

DASNY supports New York's youth in need  Ketchum-Grande Memorial School opens doors on newly renovated campus

 Student in classroom

In New York State, so-called "853 schools," provide programs to students under 21 years of age who have disabilities such as mental illness, learning disabilities, physical disabilities, behavioral problems, and autism. DASNY has been financing and constructing facilities for "853 schools" since 1991. 

Last fall, the DASNY Board approved up to $5.5 million in bond proceeds on behalf of, the Ketchum-Grande Memorial Schoool in Burnt Hills, a “853 school” that provides special educational services to day students referred by local school districts, and to residents of the Charlton School, a not-for-profit residential treatment center affiliated with Ketchum-Grande.

Donald Marshall, Executive Director of the Charlton School, explained that this expansion project will give vulnerable and at risk students a second chance at an education that can make a very significant difference in their lives and in their futures. These are real and very special kids that are being benefited.” 

DASNY, acting as a conduit issuer on behalf of Ketchum-Grande, worked with its governmental partners at the State Education Department and the Division of the Budget to provide access to low-cost, tax-exempt debt to maximize the school’s capital dollars. The financing allowed Ketchum-Grande to improve their educational facilities by adding four classrooms to the existing seven-classroom building and renovating an existing classroom. In addition, Ketchum-Grande installed a geothermal heating system that will significantly reduce energy costs. 

On October 18, the Charlton School/Ketchum-Grande Memorial School held an Open House for students, parents, and the community to show off the expansion and renovation of the campus academic building. This $4.7 million, financing may be modest in terms of total dollars, but the educational and social benefits to the students, faculty, and community are immeasurably large.

Bryant Rabbino LLP, an MWBE firm, served as DASNY’s sole bond counsel and M&T Bank served as the purchaser of the bond issue in a direct placement.
DASNY helps its public finance clients to successfully navigate fluctuating markets
DASNY's public finance clients also had a very successful summer. At the end of July, DASNY issued approximately $1.5 billion in New York State Sales Tax Revenue Bonds. Demand was so strong for this issue that it was upsized twice and generated significant savings to the State. Standard & Poor’s rated the Sales Tax Revenue Bonds AAA, S&P's highest possible rating, and Fitch rated the bonds AA+. Fitch stated that, "the State’s sales tax is broad-based and provides generous coverage of debt service.”

The market has taken notice of Governor Cuomo’s strong stewardship of the State’s economy
In early September, DASNY priced $1.1 billion in New York State Personal Income Tax (PIT) Revenue Bonds. In the midst of a particularly volatile market period, the team was able nevertheless to accelerate the transaction and price all of the bonds in one day.
Getting to 30 percent
2015 NYS MWBE Forum DASNY Panel - Web
DASNY has long been and continues to be at the forefront of MWBE utilization. On October 12, Governor Cuomo and his team hosted the Fifth Annual New York State MWBE Forum. DASNY President Gerrard P. Bushell and many members of DASNY leadership team, participated in panel discussions and workshops addressing topics critical to the success of MWBE firms. More MWBEs doing business with New York State means a larger pool of talented experienced partners for the State, better project results, and, ultimately, a more robust, growing economy. DASNY is firmly committed to maximizing diversity and inclusion in all procurements and to meeting the Governor’s 30 percent goal. 

Here you can access more information on DASNY’s MWBE programs and see the latest DASNY RFP & Bid Opportunities.
New Leadership at DASNY
DASNY welcomes a team of new leaders to augment the existing management team. Their vision and direction will help DASNY to become even stronger and more resilient as we strive for absolute excellence in all that we do.                                                           
Gerrard P. Bushell
President & CEO 
(518) 257-3180 (Albany)
(212) 273-5150 (NYC)

*Previous DASNY President was Paul T. Williams, Jr. 
Gerrard P Bushell
Caroline V. Griffin
Chief of Staff 
(518) 257-3661 (Albany)
Caroline Griffin
Daniel Petroff
Chief of Strategy and Business Development 
(212) 273-5105 (NYC)
(646) 874-2509 (mobile)
Dan Petroff
Yvette Malave Diaz
Director of Operations
(518) 257-3540 (Albany)

*Previous DASNY Director of Operations was Joel Pierre-Louis
Yevette Malave Diaz
Caprice G. Spann
Managing Director of the Office of Executive Initiatives
(518) 257-3386 (Albany)
(212) 273-5127 (NYC)

*Previous Director of the Office of Executive Initiatives was Carra L. Wallace
Caprice Spann
Paul M. Quigley
Acting Director of Information Services
(518) 257-3511 (Albany)

*Previous Director of Information Services was Leigh Favitta
Paul Quigley
J.M. Moore
Acting Director of Real Property
(518) 257-3133 (Albany) 

*Previous Director of Real Property was Rick Wynne
Matt Moore

Additionally, we look forward to welcoming Kimberly J. Nadeau,Chief Financial Officer & Treasurer on
ovember 2, 2015.

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