From the President: DASNY No. 1 in Municipal Bond Market
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Dear Colleagues,
DASNY has once again been ranked as the nation’s top issuer, according to
The Bond Buyer and Thomson Reuters. This is a distinction it has held twice in the past four years.
We have worked hard for this honor – introducing many process improvements, expanding services, promoting collaboration and inclusion across all divisions to advance our mission and better assist our partners. And it’s working. DASNY’s public finance business had a strong year. Bond issuances totaled approximately $9.1 billion, despite the impact the repeal of advance refunding had on the municipal bond market.
In our construction division, we have a pipeline of more than 1,000 projects valued at more than $6.6 billion. DASNY is expanding its energy performance contracting offerings, enabling clients to pay for needed facility improvements with the energy savings generated from these upgrades. The program enables us to offer a turn-key solution to both public and private clients to finance, design, and build capital projects that save energy through a combination of
DASNY’s Tax-Exempt Equipment Leasing Program (TELP)
, as well as its
procurement
and
construction
services.
This new energy-saving program is a natural extension and integration of our finance and construction services. It also places us at the forefront of Governor Cuomo’s bold agenda to reduce the state’s carbon footprint, setting New York on a path to make the state’s energy 100 percent carbon free by 2040.
We are on a quest in our 75
th
year to do more, and do it better. Only by providing the highest level of service and offering inventive solutions to challenges, will we deliver more for all New Yorkers.
Best,
Gerrard P. Bushell, Ph.D.
DASNY President & CEO
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Governor Cuomo Outlines 2019 Justice Agenda
in Ninth State of the State Address
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Justice is at the forefront of Governor Andrew M. Cuomo's agenda in 2019. The Governor delivered his
ninth State of the State address on January 15, promising to ensure true economic, social and racial justice
for all.
The agenda will deliver voting reform, strengthen gun laws, protect a woman’s right to choose, provide health care safeguards, decriminalize the use of marijuana, and reform the criminal justice system.
Specifically, the agenda includes:
- Launching a $150 billion infrastructure plan;
- Introducing a ‘Green New Deal’ to make the state’s electricity 100 percent carbon neutral by 2040;
- Leading the fight to repeal the cap on state and local taxes (SALT), while continuing tax cuts for middle-class families;
- Protecting public-sector unions and expanding workers’ rights in the private sector; and
- Investing more in affordable housing and reforming rent regulations, including ending vacancy decontrol, repealing preferential rent, and limiting capital improvement charges.
The Governor also expressed support for the expansion of alternative delivery methods such as design-build, a method that expedites project delivery and provide savings while maintaining a high level of quality.
DASNY successfully deployed design-build to deliver the $24 million,
263-bed residence hall at SUNY Brockport. That project has created the footprint which will help pave the path for the $750 million, design-build New York State Life Sciences Public Health Laboratory in the Capital Region and the $27.8 million, 257-bed, design-build residence hall at SUNY Polytechnic Institute in Utica.
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DASNY Project Named “Best of the Best”
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DASNY’s work with the New York State Office of Parks, Recreation, and Historic Preservation to improve upon the unforgettable experience of visiting Niagara Falls State Park is being recognized once again. The six-year restoration project has been named a
national winner (“Best of the Best Renovation/Restoration”) by the Engineering News Record (ENR).
DASNY managed
$70 million in projects to update the oldest state park in the nation. The work has made this world-renowned park more accessible, safe and interactive.
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DASNY Delivers State-of-the-Art Equipment
to New Yorkers with Disabilities
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For more than seven decades, DASNY and The Arc New York have been dedicated to serving the people of New York. Over the course of that time, the two have collaborated on various transactions aimed at helping those in need, including on Friday, Dec. 28.
That's when
DASNY and The Arc New York closed a $7.03 million
transaction
, the first portion of a $20 million tax-exempt equipment lease authorization for the purchase of adaptive equipment and specialized vehicles for individuals with disabilities, as well as information technology equipment upgrades.
“The tax-exempt rate of the DASNY TELP financing allows us to leverage the savings to purchase additional items,” said Saundra M. Gumerove, President of The Arc New York. “In the current fiscal climate, where our field is struggling to adequately fund our staff and programs, any opportunity for savings is appreciated and necessary.”
Being able to access DASNY’s tax-exempt status to obtain lower interest rates enables The Arc of New York to leverage the savings, gained through the transaction, to upgrade and purchase additional equipment, making it possible for the organization to provide better care and service.
In FY 2018, DASNY delivered $148.7 million in low-cost leases through DASNY’s Tax-Exempt Equipment Leasing Program (TELP).
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Dr. Bushell Featured at
The Bond Buyer’s
National Outlook Conference
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Providing infrastructure solutions to help improve the lives of New Yorkers. That was the theme on January 29 as Dr. Bushell delivered the keynote address at
The Bond Buyer’s
National Outlook Conference in New York City.
He explained to the capacity crowd DASNY has focused on people, processes, performance, and impact and “we have applied what we have learned to better assist our partners in higher education and health care.”
“It is important for New York to be a center of excellence,” said Dr. Bushell. “Our work advances the state’s support of innovation, impact, growth and inclusion.”
Dr. Bushell also sat down with
The Bond Buyer’s
Andrew Coen for a podcast interview. Topics ranged from maintaining success and remaining competitive in an ever-changing marketplace to what clients can expect in DASNY’s 75th year. You can listen to the interview in its entirety on
The Bond Buyer’s website
.
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"Driving Change and Getting Results:
Meet the Women Who are Building New York"
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DASNY is hosting a Women's Leadership event on
Tuesday, March 19 from 6-8 p.m. in the Katie Murphy Amphitheatre at FIT.
The event will feature a 30-minute interview with FIT President Dr. Joyce Brown.
RSVP to
events@dasny.org
by
5 p.m on Friday, March 15
. (Include: name, title, company, email, phone)
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Employment Opportunities
Want to be part of the DASNY team?
All qualified candidates are encouraged to apply.
DASNY is currently searching for:
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- Electrical Engineer (Downstate Design), New York City: The Engineer manages the design process and administers professional services contracts for consultants providing design services to the Authority and conducts formal reviews of consultant prepared design documents throughout all phases of building design. Learn more.
- Senior Internal Auditor (Internal Audit), Albany: The Senior Internal Auditor assists Management in performing independent, objective and complex internal audits and analysis of DASNY operations and construction projects to ensure compliance with established policies and procedures. Learn more.
DASNY is an Equal Employment Opportunity employer
committed to excellence and diversity.
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DASNY offices will be
CLOSED
Monday, Feb. 18
for Presidents Day.
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WE FINANCE, DESIGN and BUILD INFRASTRUCTURE
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