Building Upon Successes

DASNY Director of Construction and WNY Operations Rob Ryan with President & CEO Gerrard P. Bushell at event in Rochester on 6/6/17.
DASNY Director of Construction and WNY Operations Rob Ryan with President & CEO Gerrard P. Bushell at event in Rochester on 6/6/17.

It has been an incredible two years since I accepted Governor Cuomo’s challenge to lead DASNY and became the first DASNY President and CEO to be confirmed by the New York State Senate. 

Over these past two years, we have changed the direction of DASNY, using a renewed focus on our clients as a springboard. We are providing them with a wider array of solutions, from broadening the use of a hybrid financing structure that combine tax-exempt and taxable bonds, to delivering projects with design-build and other alternative methods. 

These efforts are producing clear results. The Bond Buyer and Reuters have recognized DASNY’s leadership in the bond market in each of the last two years as one of the nation’s top municipal bond issuers. In Fiscal 2016, DASNY broke a financing record with approximately $8.3 billion and in Fiscal 2017 we issued $829 million on behalf of New York University, the largest private client deal in DASNY’s history. 

DASNY is also playing a central role in a rising scientific research corridor. We financed and built CUNY’s approximately $700 million Advanced Science Research Center and issued $50 million in green bonds to support Columbia University’s Jerome L. Greene Science Center. A $321.8 million portion of NYU’s historic issuance is supporting the university’s integrated technology, urban studies and arts program facility at 370 Jay Street in Brooklyn. 

DASNY’s success has been built on change. Over the last two years DASNY has:

• Comprehensively redesigned its organizational structure – people, processes, and technology – to streamline the flow of information and decision-making.

• Revised its financing guidelines and policies to increase our clients’ ability to access the financial markets with speed, certainty, and flexibility.

• Improved the requisitioning process through the Department of Health to cut red tape and speed access to bond proceeds.

• Added construction manager build to DASNY’s alternative project delivery method tool kit and redesigned our design-build contract for SUNY College at Brockport’s new $21 million residence hall, which is scheduled for completion ahead of the school year that begins in the fall of 2018. 

• Broadened a hybrid financing structure that combines taxable and tax-exempt bonds to give clients greater flexibility.

• Implemented new technology that enhances productivity and modernizes its approach, including Office 365, ePayables for vendors, and mobile technology in the field.

By continuing to push forward, DASNY will help New York State win the competition for the best minds and talent, and expand access to health care. We will create inclusive, sustainable communities to best position them to compete for businesses on the global stage and grow New York State’s economy. 

We look forward to continuing to grow our partnerships across the state so that we can provide the very best service to our clients and New Yorkers.