DASNY Announces $5 Billion in Low-Cost Financing Helps Strengthen Educational and Nonprofit Institutions

Reuben R. McDaniel, III, President & CEO of The Dormitory Authority of The State of New York (DASNY) announced today $5 billion in low-cost financing obtained through DASNY has been issued to help school districts and higher education, and not-for-profit institutions reduce costs through low-cost financing for the first nine months of the year.

“By providing access to cost-effective capital financing, DASNY helps colleges, universities, schools, hospitals and nonprofits focus their funding on the critical work of serving New Yorkers,” said Mr. McDaniel.  

Examples of institutions benefiting from low-cost financings include: 

  • Interagency Council (IAC) – Agencies Serving New Yorkers with Developmental Disabilities  
    • Citizen Options Unlimited, Inc./Community Services Support Corporation/Nassau County AHRC Foundation, Inc. ($3.4 million) 
      • Supports acquisition and rehabilitation of 2 Oak Tree Drive in Smithtown, 38 Kirkland Drive in Greenlawn, and 588 Bellmore Drive in West Islip for use as residences for adults with developmental disabilities. 
    • Developmental Disabilities Institute, Inc. ($3.5 million) 
      • Supports acquisition and rehabilitation of 110 South Evergreen Drive in Selden and 27 Leslie Lane in Smithtown, for use as residences for adults with developmental disabilities, as well as the acquisition and rehabilitation of 99 Hollywood Drive in Smithtown for use as an intermediate care facility for adults with developmental disabilities. 
    • HASC Center, Inc. ($1 million) 
      • Supports the construction, renovation, furnishing, and/or equipping of 5601 1st Ave in Brooklyn for use as a day habilitation center for 77 adults with developmental disabilities. 
    • HeartShare Human Services of New York ($3.8 million) 
      • Supports the construction, renovation, furnishing, and/or equipping of 1062 Elton Street in Brooklyn for use as a day habilitation center for 120 adults with developmental disabilities, as well as the acquisition and rehabilitation of 53 Dreyer Ave and 89 Clearmont Ave on Staten Island for use as residences for adults with developmental disabilities. 
    • The Institutes of Applied Human Dynamics, Inc. (IAHD) ($4.5 million) 
      • Supports the acquisition and rehabilitation of 632 Manida Street and 621 Bryant Ave in the Bronx for use as intermediate care facilities for adults with developmental disabilities, as well as the acquisition and rehabilitation of 1249 Ward Ave in the Bronx for use as a residence for adults with developmental disabilities. 
    • QSAC, Inc. ($6.4 million) 
      • Supports acquisition and rehabilitation of 116-05 119th Ave and 134-21 in Jamaica, 396 Woodfield Road in West Hempstead, and 1 Kenmore Street in Dix Hills for use as residences for adults with developmental disabilities. 
    • Young Adult Institute, Inc. (YAI) ($5.5 million)  
      • Supports acquisition and rehabilitation of 21-60 31st Street, Astoria, 188 Landscape Drive, Wheatley Heights, and 111-20 115th Street South Ozone Park for use as residences for adults with developmental disabilities. 
  • New York University ($250 million)   
    • Finances, refinances, or reimburses costs associated with numerous construction and renovation projects across the NYU system, including the construction of a new mixed-use facility at 181 Mercer Street. 
  • School District Revenue Bond Financing Program ($335.2 million) 
    • Supports a range of projects across 40 school districts statewide, including technology updates to promote innovation and collaboration, interior and exterior renovations, fire, security, and air quality systems upgrades, and others.    
  • St. John’s University ($163.6 million): 
    • A portion of the bond proceeds supports a project to demolish the existing building at St. Vincent Hall, and acquire, construct, furnish, and equip a new health sciences building at the same location.