ALBANY, N.Y. (September 6, 2017) -- Gerrard P. Bushell, President and CEO of DASNY, announced today that Nassau BOCES (Boards of Cooperative Educational Services) will achieve approximately $1.7 million in gross savings over the next 11 years as a result of DASNY’s refunding nearly $12 million of outstanding Nassau BOCES bonds.
“Nassau BOCES plays an integral role in keeping down costs and boosting educational services provided to Nassau County’s more than 200,000 students as they return to school,” said Gerrard P. Bushell, President and CEO of DASNY. “DASNY is proud to partner with Nassau BOCES to provide savings so it can do more for the students and educators it serves.”
The refunded bonds were first issued after voters approved Nassau BOCES’s 2009 purchase of the Robert E. Lupinskie Center for Curriculum, Instruction and Technology at One Merrick Avenue in Westbury, New York. At this location, Nassau BOCES provides teachers, support staff and administrators with cost-effective, professional development and other services that promote district collaboration, helping keep districts up-to-date with educational trends.
Nassau BOCES serves the 56 school districts in Nassau County, covering more than 200,000 students. As one of 37 BOCES throughout New York State, Nassau BOCES helps districts in Nassau County share services to reduce costs and enhance student learning.
BOCES cooperative services help to complement efforts by Governor Andrew M. Cuomo to reduce New York State’s property tax burden in part by cutting costs through collaboration and service sharing among school districts.
“Nassau BOCES works hard to provide our component school districts with cost-effective, cutting-edge services in support of educating the students of the county,” said James Widmer, Nassau BOCES Associate Superintendent for Business Services. “These services range from direct student instruction and supplemental educational offerings to technology support. We are very happy to have achieved the level of savings we did by refunding the remaining 2009 DASNY bonds.”
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Founded in 1944, DASNY – the Dormitory Authority of the State of New York – is New York State’s capital project development authority. It finances and constructs sustainable and resilient science, health and education institutions that help New York thrive. It is one of the largest issuers of tax-exempt bonds in the nation with an outstanding bond portfolio of approximately $47.9 billion as of June 30, 2017. DASNY is also a major public builder with a construction pipeline of 935 projects valued at more than $6.1 billion as of June 30, 2017.