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DASNY News & Updates: January 2016
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DASNY is #1
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DASNY was the biggest issuer of municipal bonds in the U.S. in 2015, with more than $9 billion issued over 34 deals. The State of California was the second biggest.
This incredible achievement recognized by The Bond Buyer and Reuters could not have been reached without the support of DASNY’s partners and clients. DASNY is their advocate throughout the entire issuance process and has positioned itself to do even more for clients in 2016, said Gerrard P. Bushell, DASNY President & CEO. The $9 billion included state-supported debt and bonds issued for private clients.
“DASNY’s position as the number one issuer of municipal bonds last year demonstrates that we are a reliable partner as we deliver for institutions that anchor communities and help drive New York’s economy,” Bushell said. “We are already building on last year’s success. We ended 2015 with an overhaul of our financing guidelines and policy to provide borrowers with greater speed, certainty and flexibility. This streamlined process enables DASNY to do more for the great State of New York.”
In December, DASNY’s board approved the guidelines and policy changes that speed borrowers to the market. They also provide certainty by doing away with unpredictable outcomes from often-waived requirements for DASNY’s top-rated clients. The highest-rated borrowers now also have more control over their investments.
The overhaul marks a significant turn for DASNY. The Authority is becoming faster, more flexible and more responsive to clients and partners. It is continuing to broaden its expertise in alternative project delivery methods and deploying new construction technology. Under President Bushell’s leadership, DASNY is modernizing everything it does, from internal operations to its interactions with the bond market.
For more details, see the new guidelines and financing policy.
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DASNY cuts the ribbon on $350 million Bronx Behavioral Health Campus
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John Collazzi, Chief of Staff for Michael Benedetto, Member of Assembly 82nd District; Senator Ruth Hassell-Thompson, New York State Senate, 36th District; Thomas Messina, Sr., District Representative for Member of Congress Joseph Crowley (14th); Dr. Ann Marie T. Sullivan, Commissioner of the NYS Office of Mental Health; Anita Daniels, MS, RN-BC, Acting Executive Director, Bronx Psychiatric Center, Office of Mental Health; Marcia Alkins, MA, Acting Interim Executive Director, NYC Children’s Center-Bronx Campus, Office of Mental Health; Edward Killeen, Director, Administrative Support Services Group, NYS Office of Mental Health (hidden); Dan Petroff, Chief of Strategy & Business Development, DASNY; and Dr. Joseph Battaglia, Clinical Director, Bronx Psychiatric Center, NYS Office of Mental Health
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DASNY and its partner, the New York State Office of Mental Health, opened a $350 million, state-of-the-art Bronx Behavioral Health Campus on Jan. 19.
The 436,310-square-foot project was managed by DASNY, from the design that began in 2008 to its completion in December 2015. It took more than 5,000 workers to complete. When approved, it will be DASNY’s 37th LEED-certified project. It will provide an estimated 21 percent energy savings or about $300,000 annually to the Office of Mental Health, and therefore, New York State taxpayers.
“The beautifully designed Bronx Psychiatric Center and the Bronx Campus of the New York City Children’s Center represent the State’s continued commitment to the City of New York and its most vulnerable residents,” said Dr. Ann Marie T. Sullivan, Commissioner of the Office of Mental Health. “This new campus offers safe and secure facilities for individuals with mental illness to find hope, realize recovery and build resiliency in a setting that exemplifies the best of what New York State has to offer.”
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DASNY bundles library financings; Suffolk County communities benefit
 DASNY’s Board approved refundings up to $26 million this month that are expected to bundle three Suffolk County public libraries to provide savings. The refundings are expected to price in February and close in early March.
DASNY is responding to its clients’ needs with this financing structure for Comsewogue Public Library ($4M), Rogers Memorial Library Company ($4M) and Smithtown Special Library District ($18M,) which will enable all three libraries to achieve economies of scale by sharing costs of issuance.
The residents of these communities will benefit from the savings, said Noah Nadelson, Chief Executive Officer of Munistat Services, who is the financial advisor for the libraries. DASNY simplifies the process for local governments, which can be unfamiliar to them and complex, he said.
“DASNY’s staff provides an excellent level of service, expertise and professionalism which results in a relatively seamless process,” Nadelson said. “For these three libraries in Suffolk County, this DASNY financing means budgetary savings that will be reinvested in the community.”
Read more: Financing, Design and Construction Programs for Public Libraries.
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