Southern Tier Region expected to receive over $2.5 million for SUNY Delhi
Investment Complements “Southern Tier Soaring” – Region’s Successful Upstate Revitalization Initiative to Grow the Economy and Create New Opportunities
ALBANY, N.Y. (May 10, 2017) -- Gerrard P. Bushell, DASNY President & CEO, announced today that the Dormitory Authority of the State of New York and The State University of New York issued approximately $150 million in low-cost, tax-exempt bonds through DASNY’s SUNY Dormitory Facilities Program for residence hall capital projects across New York State.
The DASNY-SUNY financing partnership is expected to deliver over $2.5 million to the Southern Tier, an investment that complements “Southern Tier Soaring” -- the region’s successful Upstate Revitalization Initiative plan to create new opportunities and grow a strong economy.
The financing would support renovations at several residence halls at SUNY Delhi. The renovations include roof replacements, kitchen renovations and exterior wall insulation.
DASNY President & CEO Gerrard P. Bushell said, “DASNY is proud to partner with SUNY to deliver low-cost financing to develop and upgrade residence halls in the Southern Tier. Best-in-class living and learning infrastructure achieved at low cost is paramount to New York’s ability to attract the best and the brightest students, and send the Southern Tier economy soaring.”
SUNY Chancellor Nancy L. Zimpher said, “SUNY is happy with the excellent result of this bond sale, which will provide low-cost borrowing for the self-sufficient residence hall program. This will help maintain a safe, convenient, and affordable living environment for our students. We are pleased to, once again, provide this necessary financing in partnership with DASNY.”
SUNY Delhi President Michael R. Laliberte said, “Improving and updating our residence halls to provide safe, modern living environments that enhance the collegiate experience for our students is a priority. The financing partnership between SUNY and DASNY is an important step toward helping us achieve that goal.”
Enhancing the educational infrastructure helps the Southern Tier Soaring economic development plan by enhancing the region’s ability to attract the best and brightest students to its colleges and universities. The Southern Tier’s plan centers on bringing talent and investment to create high-technology discoveries and entrepreneurship activities. The region was awarded $500 million through Governor Andrew Cuomo’s Upstate Revitalization Initiative to further its transformation and the success of the Governor’s Regional Economic Development Councils.