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DASNY News & Updates: APRIL 2017
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Partnering with CUNY to Lead on Energy Efficiency
DASNY and CUNY have teamed up on approximately $380 million in energy efficiency upgrades spread across 12 campuses. The work is part of the Sustainable CUNY Conserves program and helps fulfill Governor Andrew Cuomo’s Executive Order 88 to reduce energy use in state buildings by 20 percent by 2020.
"New York State leads the way in reducing energy consumption to reduce environmental impacts,” said Gerrard P. Bushell, DASNY President & CEO. “DASNY is proud to partner with CUNY in support of Governor Cuomo’s energy vision and to generate savings that is reinvested in students."
The operational savings produced by the upgrades is being reinvested into campus initiatives that benefit students while reducing environmental impact. The projects range from high-efficiency lighting to the replacement of outdated heating and cooling equipment.
You can read the full press release from Governor Cuomo’s office here.
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Supporting Governor Cuomo’s Housing Agenda
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L to R: Jeffrey Dansler, resident; Tiffany Sims, Westhab; Bob Greco, Rende Contracting Corp.;
Horace Bush, resident; Saky Yakas, SLCE; Dawn Miller, resident; Moira Tashjian; OMH; Kristina Reed, resident; Budd Isaacson, OMH; Richard Nightingale, Westhab; New York City Councilwoman Vanessa Gibson; Mark McIntyre, NYC OER; Greg Watson, NY HCR; Dan Magidson, Enterprise; Michael McGuire, UnitedHealthcare. Photo Source: Colin Sussingham
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A new affordable housing community is providing an opportunity for people with mental disabilities in the Bronx to live independently. On April 20, the ribbon was cut on the $20.7 million Gouverneur Place Apartments, a 68-unit community that set aside 50 units for people with mental health disabilities through a program provided by the New York State Office of Mental Health (OMH). The project was developed by OMH’s private-sector partner, Westhab Inc., the largest not-for-profit providers of affordable housing and supportive services in Westchester County. OMH awarded the public-private-partnership $11.7 million in capital funds supported by bonds DASNY issued on OMH’s behalf.
“As one of the largest issuers of low-cost, tax-exempt bonds in the nation, DASNY understands the value these funds provide to the development of critical social infrastructure projects across the state,” said Gerrard P. Bushell, DASNY President & CEO. “Gouverneur Place Apartments is a great example of how public-private partnerships can successfully advance our social goals.”
The funding is part of Gov. Cuomo’s commitment to affordable housing and community revitalization, which includes the $1 billion House NY program, the state’s largest affordable-housing investment in nearly two decades. That investment is creating and preserving more than 14,300 affordable homes over five years.
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Preserving the Municipal Bond Tax-Exemption
DASNY President & CEO Gerrard P. Bushell took the opportunity at two speaking engagements in April to support the preservation of the federal tax-exemption for income earned on municipal bonds, which has come under fire as Congressional leadership considers tax reform.
At two speaking engagements – the April 5 Commercial Observer Development University Conference and the April 26 Real Estate Executive Council (REEC) Spring Meeting – Dr. Bushell made clear that developers, real estate consultants, and the general public should voice their support to preserve the tax-exemption in its current form.
Dr. Bushell explained the tax-exemption is “the central financing tool for infrastructure projects across the country, not only for governments, but also for not-for-profit higher education and health care providers.” It funds schools, roads and bridges, and public transit, Dr. Bushell said. Reducing or eliminating the exemption would raise borrowing costs and cut down on opportunities for work, he said.
“There is no one involved in the planning and construction of any government-supported infrastructure program who won’t lose business if the exemption is reduced, or worse eliminated,” Dr. Bushell said.
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