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DASNY News & Updates: SEPTEMBER 2017
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From the President's Desk: End of Summer Update
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Dear Clients and Partners,
I hope you enjoyed your summer, and were able to take time to spend with family and friends. The transition from summer to fall is invigorating. It is an opportunity to reflect on our accomplishments and once again place our feet firmly onto the gas pedal as we steer into the future.
This summer was a busy one for DASNY. We drew toward completion of capital and summer work projects in every corner of the state, once again demonstrating our hallmark speed and efficiency through our SUNY Residence Hall program. We continued to execute the $21 million design-build residence hall project at the College at Brockport, and moved toward completion of our work at Niagara Falls State Park.
We also built on the strong start to our Fiscal Year 2018, when the DASNY Board approved $2.9 billion in financings at its April meeting. Just last month, we closed on a refunding for Nassau BOCES that will help it achieve about $1.7 million in gross savings over the next 11 years, enabling the 56 school districts it serves on Long Island to invest more in student learning.
Through it all, we continued to focus on providing the very best of service so that all of you can continue to deliver at the highest level for New Yorkers. We look forward to finding new ways to grow our partnerships. Please enjoy our news from the summer, which follows.
Sincerely,
Gerrard P. Bushell
DASNY President & CEO
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DASNY and NYU Support Innovative Communities
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Dr. Bushell and NYU President
Andrew Hamilton tour progress
at 370 Jay Street |
In early July, DASNY President and CEO Gerrard P. Bushell joined NYU President Andrew Hamilton on a tour of New York University’s 370 Jay Street, a new technology and art center in Brooklyn.
The project is central to NYU’s expansion in the sciences and technology and is scheduled to open this fall. Bob Berne, NYU’s Executive Vice President for Health who has been shepherding the project, says 370 Jay Street will be “the epitome of collaboration among engineers and artists all working side-by-side in what will be a very vibrant and dynamic building.”
Dr. Bushell said he was honored to have the opportunity to see first-hand how the partnership between DASNY and NYU is delivering for the University, New York City and New Yorkers.
“370 Jay Street and the ambitious projects it will house is certain to transform how we connect with our cities and each other,” Dr. Bushell said.
“This project is deeply integrated with the surrounding community, and establishes connected spaces that will inspire creativity and collaboration. 370 Jay Street will prove to be an economic engine.”
To date, DASNY has issued a total of $352 million in low-cost, tax-exempt, and taxable bonds on NYU’s behalf for this project. The 370 Jay Street project was supported by a $829 million bond issue in June 2016 that made history for being the largest single issuance DASNY has ever conducted on behalf of a private client.
Learn more about NYU's 370 Jay Street.
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DASNY Breaks from Past with 2017 Annual Report
Also in July, DASNY released its 2017 Annual Report. This year's report breaks with tradition as it has adopted a magazine-style format to bring to life stories as told through the eyes of DASNY’s clients. The report focuses on the impact DASNY and its clients have on creating inclusive, sustainable communities across New York State that are best able to compete for jobs.
Those stories include:
The report also celebrates partnerships, including 50 Years with CUNY as well as DASNY’s work with MWBE firm Siebert, Cisneros, Shank & Co. And it demonstrates how DASNY is maximizing its value to partnerships by broadening the use of its hybrid financing structure and expanding the use of alternative delivery methods.
For the full report, follow this link: DASNY 2017 Annual Report.
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DASNY Delivers for SUNY
DASNY’s construction division finished its annual summer work projects across SUNY campuses statewide. The work was completed in 90 days, ready in time for students to begin the fall semester.
At the same time, a handful of longer-term capital projects were completed. The projects include:
- A $19 million upgrade to SUNY New Paltz’s 49-year-old Bevier Hall, including improvements to heating and ventilation, the addition of a new elevator, enhancements to student lounge space and improved lighting. The project is expected to be awarded LEED Gold for its sustainable and energy efficient upgrades.
- A $15 million gut rehab to SUNY Plattsburgh’s Wilson Hall, including new windows and doors, electrical, mechanical, and plumbing systems.
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A series of regional press releases were sent and can be viewed here, as can photos of the work.
The completed summer and capital projects have a combined value of roughly $80 million.
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A 50-Year Partnership with CUNY; Leadership in MWBE Contracting
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DASNY President & CEO Gerrard Bushell
speaking at CUNY/CUCF Contract
Opportunities Conference |
August began with Dr. Bushell speaking at the CUNY/CUCF Contract Opportunities Conference. There he highlighted the 50-year partnership between CUNY and DASNY, and how together we have worked to alter the landscape of New York City and create new avenues of opportunity.
“When you look back at the totality of this work, you can see that together we have financed and built the network of colleges that comprise CUNY and made education accessible to millions of New Yorkers,” said Dr. Bushell. “This education made health care, technology and research-focused jobs attainable for New Yorkers as the economy shifted away from traditional manufacturing.”
Dr. Bushell also explained how as DASNY and CUNY embark on the next 50 years, we face the task of maintaining the existing infrastructure while also advancing it to meet CUNY’s new needs.
Central to all of this work is DASNY’s focus on meeting and, in some cases, exceeding Governor Andrew M. Cuomo’s benchmark for a 30 percent minority- and women-owned business enterprise (MWBE) participation rate on State Contracts.
You can read Dr. Bushell’s complete speech here.
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Harlem Week 2017
The following week of August, Dr. Bushell addressed attendees at this year’s Harlem Week Economic Development Day. The topic: building capacity and creating opportunities for MWBEs.
“For us at DASNY it is not enough to just provide opportunity for MWBEs and SDVOBs, Dr. Bushell said. “It is also our obligation to also help them expand their capacities so they can take on larger roles.”
From large- and small-scale construction projects to bond issuances and surety bond training programs, Dr. Bushell explained how DASNY is delivering on our mission of inclusivity. Members of our Resource Acquisition team were on site promoting DASNY and other state initiatives.
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