2010 DASNY Annual Report
Transcript of 2010 DASNY Annual Report
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We Deliver.
DASNY:
We Finance. We Build.
Dormitory Authority State of New York | Annual Report 2010
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Letter from the Governor 1
Letter from Alfonso L. Carney, Jr. and Paul T. Williams, Jr. 2
Year in Review 5
Public Finance 11
New Issues 16
Tax-Exempt Equipment Leasing Program (TELP) 20
Construction 23
New Construction Projects 30
Completed Construction Projects 34
Opportunity Programs Group 39
Sustainability Programs 44
Summer Internship Program 46
Grant Programs 48
Governance 54
Bonds and Notes Outstanding 60
Audited Financial Statements 77
Managements Discussion and Analysis 80
Basic Financial Statements 89
Notes to Basic Financial Statements 92
Dormitory Authority State o New York
Annual Report 2010
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Dear Friends:
Tis year, the role o the Dormitory Authority has been more essential to the people o this
State than ever beore. At a time o great economic stress in New York State and around the
world, the Dormitory Authoritys core missionproviding low-cost capital financing and
managing public construction projects in New Yorkwas central to providing jobs and a wel-
come boost to local economies across the State.
As a leading public finance agency that is one o the largest public construction authorities in
the nation, DASNY helped to ensure that public as well as private not-or-profit institutions in
New York had access to the low-cost capital they needed.
It is with great pride that I acknowledge DASNYs lead role in implementing recommendations
rom my Executive Order 10 MWBE ask Force, a group chaired by DASNY President Paul
. Williams, Jr. DASNY has been a leader in creating new opportunities or MWBE financial,
legal and proessional service firms, while increasing the pool o businesses qualified to partici-
pate in and bid on state procurements. Te ask Force recommendations were the oundation
upon which historic legislation was built, which I am proud to say is now law. No doubt, this
will encourage increasing numbers o MWBE firms to locate and grow their businesses in New
York State, making New Yorks economy even stronger in the uture.
I commend the Dormitory Authoritys continuing dedication to its innovative All Green,
Only Green construction program and sustainability policies, goals which will help New York
prepare or the uture by cutting energy consumption and controlling greenhouse gas emis-
sions. Tese goals are critical environmental initiatives or our uture.
Te Dormitory Authority has been a trusted institution serving New Yorkers or 66 years. It
has answered New Yorks call to duty willingly and well again this year. I thank the Dormitory
Authority Board, its Chair, Alonso L. Carney, Jr., its President, Paul . Williams, Jr. and the
Authoritys dedicated staff or their leadership, proessionalism and service to the people o
New York: helping the State weather this economic storm and build a solid oundation or astrong recovery.
Sincerely,
David A. Paterson, Governor
State o New York
STATE OF NEW YORK
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Dear Governor Paterson and Distinguished Leaders:
We are proud to present the Annual
Report o the Dormitory Authority
o the State o New York. Despite theunprecedented pressure on State finances
as the recovery rom economic recession
begins, the Authority had a record year in
construction, maintained its outstanding
leadership and reputation in public
finance and achieved new heights in
diversity.
In Fiscal Year 2010, the Authority issued more than $7.1 billion
in tax-exempt bonds ending the fiscal year with an outstanding
portolio o bonds and notes o approximately $41.8 billion. Tese
financings supported a wide array o State programs and institu-
tions,
including the State University o New York, City University o
New York, and Mental Health Services Facilities, as well as the
Authoritys portolio o private, not-or-profit institutions. Among
those institutions are North Shore-Long Island Jewish Health
System, Memorial Sloan Kettering Cancer Center, Mount Sinai
School o Medicine, New York University, Cornell University,
Rockeeller University, University o Rochester, and Columbia
University. During calendar year 2009 the Authority was ranked
second in the nation or municipal bond issuance.
The HonorableDavid A. PatersonGovernorState of New York
The HonorableThomas P. DiNapoliComptrollerState of New York
The HonorableMalcolm A. SmithTemporary PresidentNew York State Senate
The Honorable Pedro Espada, Jr.Majority LeaderNew York State Senate
The Honorable Sheldon Silver
SpeakerNew York State Assembly
The Honorable Dean G. SkelosMinority LeaderNew York State Senate
The Honorable Brian M. KolbMinority LeaderNew York State Assembly
The Honorable Carl KrugerChairSenate Finance Committee
The HonorableHerman D. Farrell, Jr.Chair
Assembly Ways and MeansCommittee
The HonorableJohn A. DeFranciscoRanking Minority MemberSenate Finance Committee
The Honorable Jim HayesRanking Minority Member
Assembly Ways and MeansCommittee
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Alonso L. Carney, Jr., Chair Paul . Williams, Jr., President
Te Authority adopted new Financing Guidelines or independent
institutions to respond to the changing public finance market
environment, authorizing unenhanced financings rated in the BBB
category and the private placement o bonds to qualified institu-
tional buyers.
Te creation o Build America Bonds (BABs) as part o the
Economic Recovery and Reinvestment Act opened a new tax-
able financing option, one that offers potential savings through
ederal subsidies and has been well received by the market. O the
approximately $3.1 billion Personal Income ax (PI) Revenue
Bonds issued in Fiscal Year 2010, $1.2 billion were BABs, yielding
savings to the State. In addition, DASNY issued Bank Qualified
Bonds (BQBs) and Qualified School Construction Bonds (QSCBs)
under new ederal legislation.
Fiscal Year 2010 marked a major transition within DASNYs
Construction Division, with the operation reorganizing andrestructuring to increase efficiency and reduce costs. Te
Construction Division managed a pipeline o more than 700 proj-
ects across New York with a combined value o $6.7 billion. Over
the course o the year, DASNY expended nearly $993 million on
construction projects in localities across the State.
Important projects completed during the year include renovations
at City College School o Architecture, Brooklyn Colleges West
Quad, Rockland Childrens Psychiatric Center, dormitory projects
at SUNY Binghamton, Oneonta, and Cortland and major renova-
tions to three branches o the Albany Public Library.
Major ongoing construction projects include the City University
o New Yorks Fiterman Hall, an expansion to John Jay College,
a new academic building or Medgar Evers College, and new
and renovated science acilities at Lehman College and Queens
College. New York City Health and Hospitals Corporation projects
in progress include a major modernization or Harlem Hospital
and new construction and renovations at Gouverneur Healthcare
Services and Jacobi Medical Center. Large projects or the Office o
Mental Hygiene include the new campus or the Bernard Fineson
Developmental Disabilities Services Office and a major redevelop-
ment o the Bronx Psychiatric Center. New York City Court proj-ects include a new Staten Island Criminal and Family Court and
modernization o the Bronx Family/Criminal and Civil/Supreme
Courts. SUNY projects include new townhouse and residence
hall projects at Oswego, Stony Brook, and Albany, as well as re-
habilitation o dormitories at Potsdam, Brockport, and Oneonta.
DASNY also continued its commitment to sustainability, requir-
ing all major construction projects to register or LEED status
with a minimum goal o LEED Silver. For Fiscal Year 2010, green
projects include libraries in Albany and the newest dormitories
at Binghamton University, a SUNY school which was one o
18 schools nationwide named to the Princeton Reviews Green
Rating Honor Roll.
Te 2010 Business Diversity Act marked the culmination o the
historic work done by the Governors Executive Order 10 ask
Force. We are proud o DASNYs role in the passage o legislation
and the creation o policies removing obstacles that have histori-
cally limited the participation o Minority and Women-Owned
Business Enterprise (MWBE) firms in State procurements. AtDASNY we exceeded our MWBE construction goals by achiev-
ing more than 23 percent participation, with over $219 million
in expenditures to MWBEs during Fiscal Year 2010. Designations
to MWBE underwriting firms in calendar year 2009 or state-
supported debt transactions exceeded 30 percent. We have made
gains in the procurement o legal, accounting, and proessional
services rom MWBEs and we are committed to do more.
Tis is a time o challenge and opportunity, not just or the State
o New York, but the global economy. Te Dormitory Authority
is proud to do its part by offering unparalleled expertise in
both public finance and public construction, and leadership in
equity and diversity. We stand ready to assist the Governor, the
Legislature, and the people o New York as we prepare to meet
the challenges o a new decade.
Respectully,
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Year in Review
Mission Statement
Te Dormitory Authority o the State o New York (DASNY)
will be the public finance and construction partner o choice,
providing customers with low-cost quality sources o capital
and acilities delivered on time by a responsive, innovative
team o proessionals.
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Year in Review
During a time o great economic
uncertaintynot just in New York
but around the globethe Dormitory
Authority o the State o New York
(DASNY) continued to finance and build
projects that stimulated New Yorks
economy and created jobs.
Te Dormitory Authority demonstrated
its commitment to excellence, innovation,
and diversity in all the services it
delivered. DASNY implemented proposals
that expanded business opportunities
or women and minorities, initiatives
recommended by Governor David
Patersons Minority and Women-Owned
Business Enterprise (MWBE) ask
Force that have since become State law.
DASNY also maintained its dedication
to sustainability, applying its All Green,
Only Green standards to all new capital
construction.
DASNY:We Finance.We Build.We Deliver.
We can never lose sight of our endgoal, which is to create jobs and putNew Yorkers back to work.
Governor David A. Paterson, New York Academy of Sciences, June 8, 2009
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Year in Review
Jobs, Jobs, Jobs
During Fiscal Year 2010, the Dormitory
Authority delivered 33 bond issues
totaling $7.157 billion. About 70 percent
o that amount financed new capital
projects, keeping New Yorkers working
on public and private projects during
the fiscal year and helping the State
continue its recovery rom the effects o
the global recession.
DASNY projects created thousands o
jobs throughout the year. By March
2010, New York State had added jobs or
the third straight month in a rowlow-ering the States unemployment rate to
8.6 percent while the national average
held steady at 9.7 percent.
American Recovery andReinvestment Act of 2009
In 2010 the Dormitory Authority took
advantage o every stimulus tool avail-
able to it through the Federal American
Recovery and Reinvestment Act o 2009,including a product that received im-
mediate attention in financial markets:
Build America Bonds. Build America
Bonds help lower the cost o financing
new capital projects by allowing state
and local governments to sell taxable
bonds and receive a Federal subsidy
equal to 35 percent o the interest costs.
With the subsidy, the states net interest
cost or Build America Bonds is less
than the interest rate associated with
traditional tax-exempt bonds.
Te U.S. reasury reported that morethan $106 billion o Build America
Bonds were issued by state and local
governments in the first 13 months o
the program, resulting in $12 billion in
savings. Build America Bonds made up
about 26 percent o the issuance or the
year and were the astest growing part o
the $2.8 trillion municipal market, ac-
cording to a report by Bloomberg News.
Approximately $1.2 billion o the $3.1billion in Personal Income ax (PI)
Revenue Bonds DASNY issued in Fiscal
Year 2010 were Build America Bonds.
Capital projects on the campuses o the
City University o New York (CUNY)
and the State University o New York
(SUNY) benefited rom the savings
made available by Build America Bonds.
Enrollment at CUNY or the all o
2010 was at an all time high o 260,000
students, and SUNY reported 464,981
enrolled students in 2009. Projects at
these institutions will create acilities
and educational opportunities or
uture generations o New Yorkers who
will be well-prepared to take advantage
o the jobs created as the States econo-
my recovers.
President Barack Obamas 2011 budget
proposal would make the Build America
Bonds program permanent, lowering
the subsidy rate while expanding eligible
uses o Build America Bonds to supportfinancing or not-or-profits and a wider
range o municipal borrowing.
Te Recovery Act changed the rules
governing the eligibility or Bank
Qualified Bonds issued in calendar
years 2009 and 2010. Te Dormitory
Authority used this opportunity to
issue Bank Qualified Bonds or not-or-
profit borrowers. Te Recovery Act alsoauthorized the issuance o Qualified
School Construction Bonds to finance
improvements or public schools.
DASNY used these QSCBs to finance
capital grants or school districts.
Te Authority also undertook its own
initiatives to provide increased access
to the tax-exempt market or its not-
or-profit clients at a time when sources
o credit enhancement were limited.
Among these initiatives were amend-
ments to the Authoritys Financing
Guidelines to permit the issuance o
unenhanced bonds or its private clients
having an investment grade rating, or
through the sale o unrated securities
through a private placement to qualified
institutional buyers.
So far, the Recovery Act is responsible for thejobs of about 2 million Americans who wouldotherwise be unemployed. These arent just ournumbers; these are the estimates of independent,nonpartisan economists across the spectrum.President Barack Obama, February 17, 2010, the one-year anniversary of the signing of the Recovery Act
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Job Creation Close to 70 percent of the $7.157billion in bond issues the Dormitory Authority
delivered in Fiscal Year 2010 financed new capital
projects, putting thousands of New Yorkers to workon public and private projects and helping the
State continue its recovery from the effects of theglobal recession.
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Year in Review
Construction Division Reorganizesand Creates Jobs through MajorProjects
DASNYs Construction Division has
continued to create jobs or New YorkState through 715 projects across the
State worth more than $6.7 billion.
Construction expenditures on projects
managed by the Dormitory Authority
this year totaled close to $993 million,
reflecting the progress o several large
capital projects in the design or con-
struction phase.
Even as the work continued, the staff othe Dormitory Authority was evaluat-
ing its own perormance, looking or
innovative ways to continue to improve
client service. In these difficult economic
times, customers had two concerns
value and price. In Fiscal Year 2010 the
Construction Division was reorganized
in an effort to increase efficiency and
reduce costs. A major restructuring
created separate downstate and upstategroups, each o which include design and
construction services. All new projects
will benefit rom a more streamlined,
engaged process that is expected to also
result in significant savings to clients.
With several multi-year projects
like Fiterman Hall at the Borough
o Manhattan Community College,
Binghamton Universitys East Campus
Bronx Community College Construction is
ongoing for the North Instructional Buildingat Bronx Community College, a new 100,000
square foot, $102.3 million facility that willinclude instruction space, a library, open study
areas, and a learning center. Completion isslated for May 2012.
Housing Project, the expansion o the
John Jay College o Criminal Justice,
Bronx Psychiatric Center, and more
underway, DASNY continued to be an
important economic engine or NewYork State.
Expanded MWBE Opportunities
Te Dormitory Authority assumed a
leadership role in Governor Patersons
Executive Order 10 Minority and
Women-Owned Business Enterprise
(MWBE) ask Force, with DASNY
President Paul . Williams, Jr. serving
as ask Force Chairman in addition tohis duties with the Authority.
Governor Paterson created the ask
Force in response to a 2006 Department
o Economic Development report that
ound only 3 percent o all State procure-
ment contracts were awarded to busi-
nesses owned by women or minorities.
Te Governor accepted the ask Forces
final report in March 2010 and signedthe historic 2010 Business Diversification
Act into law in July 2010. Tis enactment
made major reorms to Article 15-A o
the Executive Law and other statutes
governing participation by Minority
and Women-Owned Enterprises in
public procurements.
Te E.O. 10 ask Force identified
best practice initiatives which have
demonstrated significant positive results.
In the underwriting sector, or example,
MWBE firms received 4.3 percent o all
designations in State-supported debt
transactions in 2007. In 2008, whenState-supported debt issuers began adopt-
ing MWBE best practices, that figure
increased to 23.9 percent. Within another
year, the total amount o MWBE designa-
tions in State-supported debt transactions
had increased by another 5 percent.
In Fiscal Year 2010, the Dormitory
Authority expanded its commitment to
the MWBE community and adopted theask Forces historic recommendations
to remove barriers to entry and increase
MWBE participation in legal, financial,
accounting, and proessional service pro-
curements. DASNY initiated new strate-
gies to increase opportunities or MWBE
financial and proessional services firms,
including authorizing joint ventures
and establishing a panel or emerging
law firms so that small law firms can
compete or legal assignments.
Public Service
In addition to service on the MWBE
ask Force, DASNY remained at the
oreront o New Yorks green move-
ment, with staff serving in leadership
positions on two groups created by
Governor Patersons Environmental and
Sustainability Executive Orders.
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The Dormitory Authority continues to be aleader in creating a level playing field whereall qualified firmslarge and small, upstate
and downstate, minority-owned and majority-ownedcan compete on equal footing for theopportunity to do business with us.Paul T. Williams, Jr., President of the Dormitory Authority of the State of New York, andChairman of the Minority and Women-Owned Business Enterprise (MWBE) Task Force
Harlem Hospital Paul T. Williams, Jr., President ofthe Dormitory Authority, with other DASNY officials
at the steel topping off ceremony for New YorkCity Health and Hospital Corporations Harlem
Hospitals $244.1 million modernization project.
Front row from the left:Ron Gecsedi, ChiefProject Manager, Downstate, Michael Clay,
Director, Opportunity Programs Group, Paul T.
Williams, Jr., DASNY President, Peter Jackson,Senior Project Manager, Steve Curro, Managing
Director of Construction, Chris Headley, FieldRepresentative III, Bethsaida Rios, Senior Assistant
Project Manager. Back row from the left:Dennis
Williams, Opportunity Programs Analyst, and JohnPasicznyk, Managing Director, Construction and
Metro NY Operations.
Staff members rom the Dormitory
Authority also served on the Governors
Economic Stimulus Cabinet and
associated committees, including
Finance, Projects, Regulatory andImplementation, Energy, and MWBE
subcommittees. Tey assisted the
Governors economic stimulus staff in
program development and implementa-
tion, project analysis, classification,
and assignment.
DASNY staff members screened 1,400
projects or eligibility or stimulus und-
ing, helping determine eligibility and, ineeded, reerring projects to the proper
State agency. Te Dormitory Authority
answered questions received via its
dedicated email and a special stimulus
section o its website regarding
stimulus projects.
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We finance.
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Public Finance
On the 48-acre campus o Long Island
Jewish Medical Center in Queens near the
Nassau County border, construction on
a new $300 million, 285,000 square oot,
state-o-the-art medical acility financed
by bonds issued by the Dormitory
Authority is well underway.
Long Island Jewish Medical
Center DASNY issued bonds in
part to finance the construction of
this 285,000 square foot, 88-bedtower that will add an additional 35
obstetric beds, and various otherimprovements to the hospital.
Te 88-bed Katz Womens Hospital will consolidate services
dedicated to the lielong health and well-being o womenon seven o its 10 floors, and offer a ull range o maternity
services and clinical care or a range o diseases and disorders
affecting women. Featuring a sleek curved acade covered in
glass, the acility will serve as the centerpiece or the 54-year-
old medical complex and connect to the existing hospital
tower on the second and third floors. Bonds totaling $421.5
million were issued on behal o North ShoreLong Island
Jewish Health System Obligated Group to finance construc-
tion o the Katz Womens Hospital and a Bioskills Education
Center in Lake Success.
Fiscal Year Activity
Te Dormitory Authority delivered approximately $7.2 bil-
lion par value o bonds in Fiscal Year 2010. Approximately
63 percent o these bonds were issued on behal o its public
clients such as the State University o New York (SUNY),
the City University o New York (CUNY), other State agen-
cies, and school districts; 28 percent were or its independent
higher education clients and other not-or-profit clients; and 9
percent were or independent health care clients.
Te largest public client bond issues included: our issues o
State Personal Income ax (PI) Revenue Bonds or clients
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Public Finance
such as SUNY, CUNY, various offices o the State Department
o Mental Health/Hygiene and capital grant programs,
totaling $3.1 billion; $616.7 million or Consolidated Service
Contract Reundings on behal o various State agency clients,
$418.7 million or New York State School Districts; and
$252.8 million or Mental Health Services Facilities.
Te largest private client bond issues in Fiscal Year 2010included: $466.6 million or New York University; $421.5
million or North ShoreLong Island Jewish Health System
Obligated Group; $369.9 million or Mount Sinai School o
Medicine; $305 million or Cornell University; $259.3 mil-
lion or Rockeeller University; $140.8 million or Yeshiva
University; $117.3 million or the University o Rochester;
and $117 million or Columbia University.
O the almost $7.2 billion in bonds delivered, approximately
$4.9 billion financed new capital projects and $2.3 billionreunded and refinanced existing debt. Te reunding op-
portunities resulted in present-value savings o $68.6 million
or Authority customers. An additional $428.9 million o
variable-rate demand bonds were reoffered during Fiscal Year
2010 and are not included in the numbers above.
DASNY ended the year with a portolio o bonds and notes
outstanding o approximately $41.8 billion, up rom $38.2
billion the previous year. O the total bonds outstanding, 54
percent were on behal o public programs (such as State-supported debt and school districts), 24 percent were on behal
o independent higher education institutions and other not-or-
profits, and 22 percent financed independent health care.
New Tools Introduced in 2009
Build America Bonds and Qualified School Construction
Bonds were among the new financial products the Dormitory
Authority introduced ollowing the passage o the American
Recovery and Reinvestment Act o 2009. Te Build America
Bonds, which are taxable bonds or which the State receives a35 percent Federal subsidy on interest costs, greatly reduced
the cost o borrowing or many o the States capital projects.
Te Recovery Act also authorized the issuance o Qualified
School Construction Bonds, which effectively allows the State
to borrow at zero (or close to zero) percent interest or the re-
habilitation, repair, and equipping o schools. Te Recovery Act
$8 80
70
60
50
40
30
20
10
0
$3
$4
$5
$6
$7
$2
$1
$0
Par Amount of Bonds and Notes Issued
Bonds and Notes Outstanding by Major Program (as of March 31)
Nonprofit Healthcare
New Money
Independent Colleges, Universities and Other Nonprofits
# of Issuances
Public Facilities
Refunding
2008
54%
26%
20%
2009
24%
22%
54%
2010
22%
24%
54%
2008 2009 2010
$inbillions
#ofIssuances
DASNY ended theyear with a portfolioof bonds andnotes outstandingof approximately$41.8 billion, upfrom $38.2 billion
the previous year.
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Samaritan Medical Center
The Dormitory Authority issued
$55.6 million in bonds for the
construction of a 355-space
parking garage with a helipad,
a four-story patient tower, new
surgical suites, and a critical care
unit at Samaritan Medical Center
in Watertown. The financing
also included the refinancing
of the Institutions share of the
New York State Housing Finance
Agency Hospital and Health CareProject Revenue Bonds, 1998
Series A Bonds.
Rochester Institute ofTechnology
DASNY issued $85 million in
bonds in 2008 to construct a
new mixed-use Global Village
residential housing complex and
upgrade energy systems and
buildings throughout the campus.
The Global Village was completed
in 2010 for occupancy by stu-
dents in the Fall 2010 semester.
Rockefeller University
DASNY issued fixed rate and
variable rate tax-exempt bonds
in the amount of $259.3 million
for Rockefeller University, a world
center for advanced study and
research in the natural sciences.
Proceeds are being used for the
completion of renovation and
reconfiguration of two halls into a
Collaborative Research Center.
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Public Finance
other eligible not-or-profit organizations. Staff had provided
the Board with three workshops over the course o a year toexamine the credit and policy issues associated with possible
changes to the Authoritys Financing Guidelines. Te revi-
sions were considered necessary in light o changes in the
market environment, in particular the limited availability o
bond insurance and the inability o industrial development
agencies to provide financing opportunities.
As a result o this examination and process, the Authority
amended its Financing Guidelines to authorize unenhanced
financings or bonds rated in the investment grade category.As revised, the Guidelines permit unenhanced financings or
bonds rated in the BBB category in addition to those rated in
the A category and better. Te Guidelines were also amended
to authorize the private placement o unrated bonds to quali-
fied institutional buyers who are sophisticated institutional
investors experienced in appropriate due diligence and mak-
ing inormed investment decisions. Tese privately placed
bonds will be sold in large denominations, will not be offered
to retail investors, and will not be able to be transerred to
investors that are not qualified institutional buyers.
Hutchings Psychiatric Center DASNY financed the bonds and is overseeingthe construction at this Syracuse-based facility. Renovations of Buildings 2
and 7 were recently completed, which provide inpatient services for childrenand youth.
New York University The Dormitory Authority issued bonds for improvementsto numerous buildings on the campus of New York University.
authorized Qualified School Construction Bonds to be issued
as tax credit bonds with investors receiving a Federal tax creditin lieu o an interest payment. Recent changes to the Qualified
School Construction Bond program created an option allow-
ing issuers to receive interest reimbursements on taxable bonds
equal to the ull yield on the bonds, up to the tax credit rate.
New Yorks 2009 allocation o Qualified School Construction
Bonds was approximately $192 million. DASNY issued about
$58 million in Qualified School Construction Bonds last year,
leaving a remaining authorized balance o close to $133 mil-
lion to be issued in 2010.
Te Recovery Act also permitted the Authority to issue Bank
Qualified Bonds in 2009 and 2010 or the benefit o some
o its private clients. In addition to taking advantage o the
provisions o the Stimulus Act, the Authority also took its
own actions to enable a broader array o not-or-profits to
borrow through the Authority. At its December 2009 Board
meeting, the Dormitory Authority Board approved modifica-
tions to the Authoritys Financing Guidelines or Independent
Institutions including, higher education, health care, and
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Authority Executes Leases for Cutting-Edge Technology
Te Authoritys ax-Exempt Leasing Program (ELP) is one o
the largest o its kind in the nation. During Fiscal Year 2010, the
Authority executed more than $254 million in 21 leases or cus-
tomers telecommunication, inormation technology, diagnostic,
and other medical equipment needs, saving them an average o
10 percent o their annual lease costs over taxable rates.
Since the programs inception, DASNY has helped clients se-
cure more than 370 leases to finance more than $2.1 billion in
equipment including MRIs C scanners, computer systems,
energy efficiency, and other high-tech equipment.
As a result o new legislation, qualified institutions will also be
able to use the ax-Exempt Leasing Program in the uture to
finance not only computers and other equipment but also the
cost o developing the inormation technology sofware and
other systems needed to run the equipment.
Personal Income Tax (PIT) Revenue Bond Changes
Various changes in State law, some o which are temporary
but have now been extended or several years, have expanded
Memorial Sloan-Kettering Cancer Center The Dormitory AuthoritysTax-Exempt Leasing Program (TELP) provided its largest technology and
equipment funding to the Memorial Sloan-Kettering Cancer Center forcomputer, laboratory, medical surgical, and radiology equipment.
Unity Hospital of Rochester Through the Tax-Exempt Equipment LeasingProgram (TELP), Unity Hospital of Rochester obtained equipment for the renal
and pulmonary departments, the operating room, as well as information technology equipment at significant savings compared to alternative taxable leasing.
the role o the Dormitory Authority in the Personal Income
ax Revenue Bond Program. One such change authorizedthe Dormitory Authority and the Empire State Development
Corporation to issue Personal Income ax Revenue Bonds
or all programs that may be financed under the Personal
Income ax Revenue Bond program. Te other change
authorized DASNY to issue Personal Income ax Revenue
Bonds or the Office o Mental Health, the Office o People
with Developmental Disabilities (the ormer Office o Mental
Retardation and Developmental Disabilities), and the Office
o Alcoholism and Substance Abuse Services acilities as an
alternative to issuing under the Authoritys Mental HealthFinancing Program.
Te Dormitory Authority brought to market a $798 million
Personal Income ax Revenue Bond financing in June 2009
that included $648 million or the Mental Health program.
Te bonds were successully marketed at a true interest cost
o 4.87 percent. Tis represented a significant savings given
the higher rating and stronger credit o the Personal Income
ax Revenue Bond program as compared to the Mental
Health program.
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Issue and Purpose Amount
Blythedale Childrens Hospital Revenue Bonds $27,000,000
The Series 2009 Bonds were issued to pay the costs of the construction of a new two-story addition to theexisting hospital, renovation of the Respiratory Therapy Center and Family Resource Center, a new resource
library, addition of a new entrance and lobby, additional parking area, as well as acquisition and installation
of furnishings and equipment. (June 2009)
Brooklyn Law School Revenue Bonds 22,340,000
The Series 2009 Bonds were issued to refund the Authoritys outstanding Brooklyn Law School Insured
Revenue Bonds, Series 2003C auction rate bonds. (July 2009)
Columbia University Revenue Bonds 117,000,000
The Series 2009A Bonds were issued to finance various construction and renovation projects throughout
the Columbia University system. (May 2009)
Consolidated Service Contract Refunding Revenue Bonds 616,740,000
The 2009 Bonds were issued to refund certain maturities of the Dormitory Authority of the State of New
York, State University Educational Facilities Revenue Bonds, Series 1997 and Series 1998A Bonds;
Revenue Bonds (Office of General Services Issue), Series 1998 Bonds; Office Facilities Lease Revenue
Bonds (Department of Audit and Control), Series 1999 Bonds; Revenue Bonds (Department of Education
of the State of New York), Series 1998 Bonds; State University Athletic Facility Revenue Bonds, 1998
Bonds; and the Upstate Community Colleges Revenue Bonds, Series 1999A Bonds. In addition, the Bonds
were issued to refund certain maturities of the New York State Housing Finance Agency, Service Contract
Obligation Revenue Bonds, 1997 Series C, 1992 Series C, 1993 Series D, 1994 Series A, 1995 Series A
and 1996 Series A Bonds. (September 2009)
Cornell University Revenue Bonds 305,000,000
The Series 2009A Bonds were issued to refinance a portion of the Authoritys outstanding Commercial
Paper Notes (Cornell University 1998 Issue) and various construction and renovation projects throughout
the Universitys campus. (April 2009)
Fordham Preparatory School Bank Qualified Private Placement Bonds 6,500,000
The Bonds were issued to pay the cost of constructing a new fourth floor to add chemistry, biology,
engineering science and forensic science laboratories, as well as a greenhouse, and renovations to the
existing physics labs, creation of six additional classrooms, and provide a dedicated music room and
orchestra practice space. (February 2010)
Friends Academy Bank Qualified Private Placement Bonds 6,500,000
The Bonds were issued to pay the cost of renovations to the Lower School facilities. (January 2010)
Hamilton College Revenue Bonds 12,700,000
The Series 2010 Bonds were issued to refund the Authoritys outstanding Hamilton College Insured
Revenue Bonds, Series 1999. (February 2010)
Hospital For Special Surgery FHA-Insured Mortgage Hospital Revenue Bonds 82,955,000
The Series 2009 Bonds were issued to pay the costs of a major expansion and renovation project that
will add approximately 60,000 square feet of new space to the East Wing of the Main Building and a new
mechanical rooftop space. (December 2009)
Lease Revenue Bonds (State University Dormitory Facilities Issue) 100,120,000
The Series 2009A Bonds were issued to finance new facilities and/or renovations to existing facilities at
Albany University, Binghamton University, Brockport, Buffalo State, Buffalo University, Canton, Cobleskill,
Cortland, Delhi, Geneseo, Morrisville, New Paltz, Oneonta, Oswego, Potsdam, Stony Brook University and
Utica/Rome. (November 2009)
New Issues
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Bonds delivered during the fiscal year ended March 31, 2010 Dormitory Authority State o New York(A Component Unit o the State o New York)
Issue and Purpose Amount
Marymount Manhattan College Revenue Refunding Bonds 49,275,000
The Series 2009 Bonds were issued to refund the Authoritys outstanding Marymount Manhattan CollegeInsured Revenue Bonds, Series 1999. (December 2009)
Master Boces Program Lease Revenue Bonds (Nassau County Issue) 17,525,000
The Series 2009 Bonds were issued to pay the costs of the acquisition of the property located at One
Merrick Avenue, Westbury, Long Island for utilization as an office building and a teacher training center.
(July 2009)
Mental Health Services Facilities Improvement Revenue Bonds 252,830,000
The Series 2010A Bonds were issued to current refund the Authoritys Mental Health Services Facilities
Improvement Revenue Bonds, Series 1998 and Series 1999 Bonds. (March 2010)
Mount Sinai School Of Medicine Of New York University Revenue Bonds 369,915,000
The Series 2009 Bonds were issued to pay the costs of construction, renovation, repairs and equipment
for an 11-story Center for Science and Medicine building and the 10-story 102nd Street Facility, as well as
utility upgrades to these two buildings. (November 2009)
New York Law School Revenue Bonds 40,500,000
The Series 2009 Bonds were issued to finance the construction and equipping of the Academic Building,
relocating the Mendik Law Library, and various other renovations and improvements. (June 2009)
New York University Revenue Bonds 466,640,000
The Series 2009A Bonds were issued to pay the costs of financing, refinancing or reimbursement of the
costs of construction, acquisition, capital improvements and equipment relating to projects at various
campus locations of the University. The Series 2009B Bonds were issued to refinance indebtedness
incurred in connection with a facility for the School of Medicine. (December 2009)
North Shore-Long Island Jewish Obligated Group Revenue Bonds 421,505,000The 2009A-D Bonds were issued to finance the cost of the construction of a 285,000 square foot, 88-bed
tower that will add an additional 35 obstetrics beds to the Long Island Jewish Medical Center and various
other hospital improvements. In addition, the 2009A Bonds were issued to finance the cost of infrastructure
improvements to the North Shore University Hospital. The Series 2009E Bonds were issued to refund a
portion of the North Shore-Long Island Jewish Obligated Group Revenue Bonds, Series 2007B Bonds.
(September 2009)
Northern Westchester Hospital Association Revenue Bonds 17,000,000
The Series 2009 Bonds were issued to pay the costs of the construction of a new two-story 38,500 square
foot addition to the existing hospital to accommodate an expanded and modernized Emergency Room
Department. (December 2009)
NYSARC, Inc. Revenue Bonds 46,150,000The Series 2009A Bonds were issued to finance or refinance various real estate acquisitions, renovations
and equipment purchases for participating Chapters. (July 2009)
Pratt Institute Insured Revenue Bonds 50,325,000
The 2009C Bonds were issued to pay the costs of the acquisition, construction and equipping of an
educational condominium unit to be built at 526-542 Myrtle Avenue, Brooklyn, New York. (August 2009)
Rockefeller University Revenue Bonds 159,295,000
The Series 2009A and Series 2009B Bonds were issued to current refund certain maturities of the
Rockefeller University Revenue Bonds, Series 1998. (April 2009)
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New Issues (continued)
Issue and Purpose Amount
Rockefeller University Revenue Bonds 100,000,000
The 2009C Bonds were issued to pay the costs of renovation and modernization of several existingbuildings on the Universitys campus, renovation and expansion of the Universitys animal care facility and
the initial design and construction of a bridging building which will link two existing buildings. (August
2009)
Samaritan Medical Center Revenue Bonds 55,605,000
The Series 2009 Bonds were issued to pay the costs associated with the construction of a 355 space
parking garage with a helipad, a 4-story patient tower, new surgical suites and a critical care unit center. In
addition, the Bonds were issued to refinance the Institutions share of the New York State Housing Finance
Agency Hospital and Health Care Project Revenue Bonds, 1998 Series A Bonds. (April 2009)
School District Revenue Bond Financing Program Revenue Bonds 62,330,000
The Series 2009A Bonds were issued to finance all or a portion of the costs of school district capital
facilities and equipment and to refinance certain bond anticipation notes. (April 2009)
School District Revenue Bond Financing Program Revenue Bonds 356,405,000
The Series 2009B through Series 2009E Bonds were issued to finance all or a portion of the costs of school
district capital facilities and school district capital equipment and/or to refinance certain bond anticipation
notes issued to finance all or a portion of the costs of school district capital facilities and school district
capital equipment. (June 2009)
Siena College Revenue Bonds 20,865,000
The Series 2009 Bonds were issued to fund the construction of a residence hall, including a dining facility.
(December 2009)
State Personal Income Tax Revenue Bonds (General Purpose) 798,010,000
The Series 2009A Bonds were issued to fund certain capital projects for State and voluntary agency
facilities for the Office of Mental Health, the Office for People with Development Disabilities formerly known
as the Office of Mental Retardation and Developmental Disabilities, the Office of Alcoholism and Substance
Abuse Services, and the City University of New York senior college facilities and community college facilities.
The Series 2009B Bonds were issued to current refund a portion of certain outstanding variable rate Mental
Health Services Facilities Improvement Revenue Bonds previously issued by the Dormitory Authority. The
Series 2009C Bonds were issued to current refund a portion of certain outstanding variable rate Mental
Health Services Facilities Improvement Revenue Bonds previously issued by the Authority that could not be
refunded on a tax-exempt basis. (July 2009)
State Personal Income Tax Revenue Bonds (General Purpose) 1,261,560,000
The Series 2009D Bonds were issued to fund projects and capital expenditures for State University of
New York facilities, SUNY Upstate Community College facilities and City University of New York Senior
College facilities, grants for private colleges and universities under the Higher Education Capital Matching
Grant program, grants under the Expanding our Childrens Education and Learning program, grants to
libraries for the acquisition, construction, renovations and rehabilitation of buildings, a State Court Officers
Training Academy and economic development grants under various programs, including the Community
Capital Assistance Program, the New York Economic Development Capital Program, the New York State
Technology and Development program, the New York State Regional Economic Development program,
the New York Economic Development Program, the New York State Capital Assistance Program, the New
York Economic Development Assistance Program, the Strategic Investment Program and other individual
projects. The Series 2009E Bonds were issued to fund projects and capital expenditures for SUNY facilities,
economic development grants under various programs, including the New York Economic Development
Capital Program, the New York Economic Development Program, the New York State Capital Assistance
Program and the New York Economic Development Assistance Program.
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Bonds delivered during the fiscal year ended March 31, 2010
Dormitory Authority State o New York (A Component Unit o the State o New York)
Issue and Purpose Amount
State Personal Income Tax Revenue Bonds (General Purpose) (continued)The Series 2009F Bonds
are Federally Taxable Build America Bonds that were issued to fund projects and capital expenditures forSUNY facilities, SUNY Upstate Community College facilities, CUNY Senior College facilities and certain
programs and projects that otherwise may be funded with the Series 2009D Bonds. (August 2009)
State Personal Income Tax Revenue Bonds (Education) Qualified School Construction Bonds 58,560,000
The Series 2009 Tax Credit Bonds were issued for the purpose of funding grants under the Expanding our
Childrens Education and Learning program. The Program finances capital works and purposes for school
districts which fall into one of the following categories: projects designed to enhance the use of technology;
health and safety improvement projects; expansion and new construction projects intended to increase the
availability of instructional space and reduce class size; projects designed to enhance accessibility of school
facilities for individuals with disabilities; and energy conservation projects. (October 2009)
State Personal Income Tax Revenue Bonds (General Purpose) 377,635,000
The Series 2009G and Series 2009H Bonds were issued for the purposes of funding projects and capitalexpenditures for CUNY Senior and Community College facilities. (October 2009)
State Personal Income Tax Revenue Bonds (General Purpose) 591,380,000
The Series 2010A Bonds were issued to finance certain capital grants under the Healthcare Efficiency
and Affordability Law for New Yorkers Capital Grant Program (the Heal NY Grant Program) and various
environmental and other infrastructure projects and grants, and to refund certain outstanding Mental Health
Services Facilities Improvement Revenue Bonds issued by the Authority. The Series 2010B Bonds were issued
to fund costs of certain required State matching contributions made to the Water Pollution Control Revolving
Fund, and for the payment of Refunded Mental Health Bonds that cannot be refunded on a tax-exempt basis.
The Series 2010C Build America Bonds were issued to fund capital expenditures for various environmental
and other infrastructure projects and to fund remediation of hazardous waste sites. (March 2010)
United Health Services Hospitals, Inc. FHA-Insured Mortgage Hospital Revenue Bonds 28,880,000
The Series 2009 Bonds were issued to refund all of the Dormitory Authority of the State of New York
United Health Services Hospitals, Inc. FHA-Insured Mortgage Hospital Revenue Bonds, Series 1997.
(October 2009)
University Of Rochester Revenue Bonds 117,279,240
The Series 2009A, Series 2009C and Series 2009E Bonds were issued pay the finance various design,
construction, and renovation projects throughout the University system, including reimbursement of
expenditures for projects on the River Campus, the Eastman School of Music, the School of Medicine and
Dentistry and the South Campus. The Series 2009B and Series 2009D Bonds were issued to refund the
Authoritys outstanding University of Rochester Revenue Bonds, Series 1997A, Series 1998A, Series 1999B
and Series 2000A Bonds. (July 2009)
Yeshiva University Revenue Bonds 140,820,000
The Series 2009 Bonds were issued to pay the costs of the construction, renovation and equipping of new
buildings located at the Universitys campuses in the Bronx and Manhattan, as well as the refinancing of a
portion of the debt incurred to acquire and maintain certain facilities located at the Universitys campus in
Manhattan. In addition, the Bonds were issued to refund the Authoritys Yeshiva University Insured Revenue
Bonds, Series 1998. (July 2009)
Total: $7,157,144,240
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ax-Exempt Equipment Leasing Program (ELP)
Lease and Purpose Amount
United Health Services Hospitals, Inc. $5,145,000
Cardiology, imaging, radiology, operating room and information technology equipment. (June 2009)
State University of New York University Hospital at Syracuse 13,890,000
Cardiology, imaging, radiology, information technology and operating room equipment. (June 2009)
Mary Imogene Bassett Hospital 4,900,000
Obstetric, pediatric, nursing, operating room, inpatient and radiology equipment. (October 2009)
State University of New York Stony Brook University Hospital 15,530,000
Imaging, radiology, operating room, respiratory and information technology equipment. (July 2009)
State University of New York University Hospital Medical Center at Brooklyn 20,000,000
Cardiology, nursing, computer, oncology and radiology equipment. (September 2009)
The Unity Hospital of Rochester 5,000,000Renal, operating room, pulmonary and information technology equipment. (August 2009)
White Plains Hospital Medical Center 2,496,425
Imaging, cardiac and operating room equipment. (August 2009)
NYU Hospitals Center 46,141,845
Ambulatory, information technology and cardiology equipment. (September 2009)
Hospital for Special Surgery 5, 980,000
Operating room, radiology, inpatient and laboratory equipment. (October 2009)
The New York and Presbyterian Hospital 4,295,172
Imaging equipment. (October 2009)
Winthrop University Hospital 7,995,668
Nursing administration, respiratory therapy, information systems and recovery room equipment. (October
2009)
United Health Services Hospitals, Inc. 4,560,000
Ambulatory and radiology equipment. (November 2009)
Rome Memorial Hospital, Inc. 1,935,034
Radiology equipment. (December 2009)
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Lease and Purpose Amount
The New York and Presbyterian Hospital 4,682,131
Catheterization lab and operating room equipment. (December 2009)
Albany Medical Center Hospital 4,777,823
Clinical, research, support and information technology equipment. (December 2009)
Montefiore Medical Center 12,981,544
Cardiology, radiology, imaging and oncology equipment. (January 2010)
Catholic Health System, Inc. Obligated Group 4,415,528
Information technology equipment for the following obligated group members: Kenmore Mercy Hospital,
Mercy Hospital of Buffalo, Sisters of Charity Hospital of Buffalo, New York (Main Campus), Sisters of Charity
Hospital of Buffalo, New York (St. Joseph Campus). (January 2010)
St. Johns University, New York 4,000,000
Information technology equipment. (August 2009)
Memorial Sloan-Kettering Cancer Center 75,000,000
Building/facility, computer, laboratory, medical surgical and radiology equipment. (August 2009)
NYSARC, Inc. 5,596,684
Information technology, telecommunications, manufacturing and transportation equipment. (December
2009)
Staten Island University Hospital 4,744,692
Energy and environmental equipment. (August 2009)
Total: $254,067,546
Closed during the fiscal year ended March 31, 2010 Dormitory Authority State o New York (A Component Unit o the State o New York)
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We build.
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For years Fiterman Hall stood as a reminder o the one day
every New Yorker wants to orget. In 2008, DASNY negoti-
ated an insurance settlement and additional State and local
unding was committed that enabled the decontamination
process to begin. Afer decontaminating the damaged build-ing, it was deconstructed and razed to the ground.
Construction
On September 10, 2001, the gut
renovation o the Borough o
Manhattan Community Colleges
15-story Fiterman Hall at 30 West
Broadway in Lower Manhattan, was
more than 90 percent complete and
the building was months away rom
reopening. By the end o the next day
Fiterman Hall was contaminated and
uninhabitable afer debris rom thecollapsing 7 World rade Center ripped
gashes in the buildings southern and
eastern acades.
Borough of Manhattan CommunityCollege Construction continued
on the Borough of ManhattanCommunity Colleges new 14-floor,
$325 million, environmentally-
friendly Fiterman Hall. The originalbuilding was decontaminated and
deconstructed after it was damagedfollowing the terrorist attacks on
September 11, 2001.
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Albany Public Library DASNY
completed a series of projects
for the Albany Public Librarythat included two new branches
and the renovation of threeexisting libraries.
In 2009, construction on a new 14-floor, $325 million,
environmentally riendly Fiterman Hall began. Te projectis scheduled or completion in 2012, and the Borough o
Manhattan Community College will gain 96 classrooms, office
space, community gathering areas, a conerence center, art
gallery, and cae.
Although Fiterman Hall may be the DASNY-managed con-
struction project with the most dramatic history, it is only
one o more than 700 projects managed by the Dormitory
Authoritys Construction Division.
Construction
Fiscal Year Activity
At the close o Fiscal Year 2010, the Dormitory Authority
had a total construction workload o 715 projects valued at
more than $6.7 billion. Expenditures on projects or which
the Authority provided services during the fiscal year totaled
nearly $993 million, up rom $839 million the previous year.
Tis increase is the result o the progress on major, multi-year
construction projects that keep 1,200 workers employed on
any given day.
Projects completed in Fiscal Year 2010 include the renovation
o the School o Architecture or City University o New York
SUNY BrockportThe DormitoryAuthority issued bonds and managed
the construction of several projects
at SUNY Brockport during the yearincluding this $10.6 million renova
tion of MacVicar Hall, housing fofirst-year students at the college
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(CUNY), a new building at Rockland Childrens Psychiatric
Center, and the renovation o three branches o the AlbanyPublic Library along with the opening o two new branches.
As they have every summer or years, campuses o the State
University o New York (SUNY) relied on the Dormitory
Authority or the repairs needed to prepare student housing or
the new academic year while continuing major projects to build
new dormitory acilities or a growing student population.
Tese projects and others demonstrate DASNYs commitment
to getting the job done well and getting it done on schedule.
SUNY Oswego Major ongoing Dormitory Authority-managed projects for
SUNY Oswego include a new, $44 million, 350-bed townhouse residence hall
(shown here), and the design, construction, rehabilitation, and upgrades ofother buildings on campus.
Office of Alcoholism & Substance Abuse Services Six substance abuse
treatment facilities, including this one for the Renaissance Project, in
Ellenville, NY, were completed by DASNY.
Te Dormitory Authority also continued its All Green, Only
Green initiative, requiring major capital construction proj-ects to register or LEED Silver certification and encouraging
the inclusion o sustainable construction approaches in all o
its projects.
Construction Division Reorganization
Te Construction Division underwent a major reorganiza-
tion in an effort to provide the most efficient service and
best value or Authority clients. Afer reviewing customer
eedback, the Construction Division implemented a major
resource and process reorganization throughout 2010. Te
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Division now consists o two groups, downstate and upstate,
with both design and construction services contained in each.
Supporting units include Procurement, Project Controls, and
Code Compliance.
All new projects are managed under the recently implemented
design-construction model. Te design area is led by an
internal design proessional; architect or engineer. Benefits in-
clude a more efficient design review process, accommodation
or construction phase project managers to remain actively
engaged on projects through the closeout o all construction
contracts, and, with the efficiency gains, anticipated savings to
customer agencies.
DASNYs construction project managers continue to oversee
the construction phase, but will be able to invest renewed
ocus into project closeout. DASNY believes that the con-
struction project manager who has been dealing with the
contractors all along is best suited to close out a project or a
contract. By aligning resources and expertise in the right parts
o a construction project, whether design, procurement, or
construction, the Dormitory Authority plans to meet its goalo reducing costs.
Consultant Site Safety InitiativesDASNY has always considered construction site safety a top prior-
ity. In 2009, two site safety consultants were procured and have
been deployed to capital projects throughout 2010. One firm is
handling the upstate projects and administration of the program,
while another concentrates on the downstate projects. The two
firms conducted more than two dozen safety surveys during 2010
on DASNYs largest capital projects.
SUNY Oneonta Completed DASNY construction projects during the year
included the $8 million gut rehabilitation of Tobey Residence Hall on thecampus of SUNY Oneonta, adding 50 beds for the college, and new workout
space for students.
SUNY Cortland The $6 million renovation of the circa 1962 Fitzgerald Hall
dormitory at SUNY Cortland was completed during the year. Renovationsincluded new laundry machines and the cost for using the machines is
included in student dining plans.
City College of New York School of ArchitectureDASNY completed the $86
million gut renovation to the School of Architecture at City College, whichincluded the addition of two floors as well as all new electrical, mechanical,
and plumbing systems. The building features electronic classrooms, studio
spaces, a model shop, an exhibit hall featuring an atrium open to the roof,a library, floating stairways, bridges traversing the Atrium, and an exterior
roof-top amphitheater for student use.
Manhattan Family Court This project was a phased renovation which
included complete facade replacement, entrance lobby renovation, and reno-vation of 13 existing courtrooms and ancillary space as well as the creation of
two new courtrooms.
Construction
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Borough of Manhattan Community College:Te decontam-
ination and deconstruction are complete and construction o
the new building, Fiterman Hall, is underway ($325 million);
Bronx Community College: North Instructional
Building ($102.3 million);
CUNY Advanced Science Research Center and new City
College Science Facility($596.8 million);
John Jay College of Criminal Justice:Expansion project
($587.3 million);
Medgar Evers College: New academic building($247.3 million);
Lehman College:New science acility ($68.5 million);
Queens College:Renovation o biology and chemistry labs
in Remsen Hall ($39.1 million);
State University College at Oswego:New 350-bed town-
house residence hall ($44.0 million);
State University of New York at Stony Brook:New 600-bed
residence hall ($62.0 million);
State University College at Potsdam: Rehabilitation toLehman, Bowman, and Knowles Halls ($15.3 million);
Fashion Institute of Technology: Renovations and
conversion into lab and office space ($33.4 million);
State University College at Brockport:Renovations o
MacVicar Hall ($10.6 million);
State University College at Oneonta:Major rehabilitation
o student residencesWilber Hall ($8.6 million) and
Golding Hall ($9.0 million);
State University of New York at Albany:New 500-bed
residence hall ($58.8 million);
State University of New York at Binghamton:Part o the
East Campus housing project, three new residence halls and
a collegiate center dining hall ($185.9 million);
Harlem Hospital Center:Major modernization
($244.1 million);
Gouverneur Healthcare Services:New construction and
renovations ($199 million);
HHC Emergency Power Systems: Upgrade and expansion o
the emergency power systems at seven acilities ($99 million);
Jacobi Medical Center: Modernization projects
($51.3 million);
Bernard Fineson Developmental Disabilities Services
Office:New nine-building campus ($104.8 million);
Bronx Psychiatric Center:Major redevelopment program
comprised o several new buildings ($344.0 million)
Rockland Psychiatric Center:New construction o a
support services building ($23.1 million);
Staten Island Criminal and Family Court: New court
acility ($208.2 million);Bronx Family/Criminal Courthouse:Modernization
project ($57.6 million);
Bronx Civil/Civil Supreme Court:Modernization project
($36.6 million); and
Albany Public Library: New construction o a branch
library on Henry Johnson Blvd. ($5.7 million) and new
construction o a branch on New Scotland Avenue
($4 million).
Construction
John Jay College of Criminal JusticeThe $587.3 million expansion to
John Jay College of Criminal Justicecontinued during the year. This facil-
ity for CUNY will be a world leading
center for law enforcement andforensic training.
Major Ongoing Dormitory Authority-Managed Projects include:
Expenditures on projects for which the Authorityprovided services during the fiscal year totaled$993 million, up from $839 million the previousyear. This increase is the result of the progress ofmajor, multi-year construction projects.
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New Construction Projects
Project and Purpose Amount
City University of New York (CUNY)
Bernard M Baruch College $3,400,000
Modernization and rehabilitation of the 10 escalators in the Newman Vertical Campus. (March 2009)
Brooklyn College 1,000,000
Replacement of the hot water circulating pumps in Whitehead Hall. (June 2009)
City College of New York 2,150,000
Complete renovation of the Marshak Buildings six passenger elevators. (June 2009)
Eugenio Maria De Hostos Community College 9,154,000
Complete interior renovation and asbestos abatement of the 5th floor of the 500 Grand Concourse building,
as well as replacement of the entire roof and renovation of all of the bathrooms in the building. (July 2009)
Kingsborough Community College 3,634,000Fire alarm upgrades at the Physical Education building, Arts and Sciences building and the Library.
(December 2009)
Queensborough Community College 18,000,000
Design and construction for the replacement or new installation of building step down transformers,
associated wiring, switchgear, transfer switches and generators for the RFK Gymnasium, Service Building,
Administration Building, Science Building, Technology Building, Humanities Building, Library and Student
Center. (November 2009)
Queens College 1,700,000
Design and construction of three new high efficiency electric centrifugal chillers with variable frequency
drives, and two winter cooling remote condensing units and associated mechanical work. (August 2009)
Office of Mental Health (OMH)
Bronx Psychiatric Center 3,100,000
The demolition of Building 4, one component of the Bronx Mental Health Redevelopment project.
(December 2009)
Hutchings Psychiatric Center 19,000,000
Reconfiguration and modification of Building 8 to house long-term inpatient adults. (January 2010)
Mohawk Valley Psychiatric Center 1,785,000
Installation of new stand-alone air conditioning chillers in Buildings 63 and 64. (December 2009)
Rockland Psychiatric Center 1,230,000
Replacement of the Building Management Systems in Buildings 57-60. (December 2009)
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Fiscal year ended March 31, 2010(Includes projects valued at $1 million and above)
Dormitory Authority State o New York (A Component Unit o the State o New York)
Project and Purpose Amount
Office for People with Developmental Disabilities (OPWDD)
Brooklyn Developmental Disabilities Services Office 1,445,000
Design and bid services to facilitate conversion of a former OCFS residence into an eight-bed
Individualized Residential Alternative. (November 2009)
Brooklyn Developmental Disabilities Services Office 4,000,000
Phased rehabilitation of bathrooms in Buildings 1 through 5. (March 2010)
Capital District Developmental Disabilities Services Office 3,250,000
Ceiling abatement in Buildings 5 and 6, as well as replacement of condensate lines, remediation of
damaged areas and associated duct work, and replacement of equipment above the ceilings. (July 2009)
Office of Mental Retardation Various Developmental Disabilities Services Office 1,000,000
Investigation and analysis of sprinkler systems at various Office of Mental Retardation and Developmental
Disabilities facilities statewide. (November 2009)
Western New York Developmental Disabilities Services Office 1,703,338
Abatement, demolition and partial design for two 3,800 s.f. Individualized Residential Alternatives.
(April 2009)
Western New York Developmental Disabilities Services Office 1,281,851
Design and construction of two seven-bed modular Individualized Residential Alternatives. (February 2010)
New York City Health and Hospitals Corporation (NYC HHC)
Coler Hospital 25,000,000
Design and construction of a new fire protection sprinkler system for the Coler campus. (November 2009)
New York City Office of Chief Medical Examiner (NYC OCME)
Bronx OCME 30,000,000
Construct a new 40,000 s.f. mortuary for the Office of the Chief Medical Examiner on the grounds of the
Jacobi Medical Center. (January 2010)
State University of New York (SUNY)
SUNY at Binghamton 12,075,500
The abatement and demolition of Bingham and Broome residence halls and Newing Dining Hall, as well as
site work and utilities, as part of the East Campus Housing project. (April 2009)
SUNY at Binghamton 1,380,519
Removal of the existing fire alarm system, and installation of a new fully addressable fire alarm and detection
system in buildings in the Dickinson Community. (April 2009)
State University College at Brockport 3,650,000
Installation of heavy commercial grade window replacement units at Bramley, Briggs, Perry and Mortimer
Halls. (March 2010)
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New Construction Projects (continued)
Project and Purpose Amount
State University College at Buffalo 1,000,000
Design and construction of a fully addressable fire alarm system for MacDonald, Pritchard, and SchoellkopfHalls. (June 2009)
State University College at Buffalo 2,100,000
Abatement of asbestos containing materials, including flooring and ceilings, in four buildings. The project will
also include painting and installation of new flooring and ceilings. (October 2009)
State University College at Cortland 5,400,000
Interior renovations including painting, flooring and bathroom renovations, and mechanical system upgrades
at Cheney Hall. (November 2009)
State University College at Oneonta 8,500,000
Major rehabilitation of Littell Hall, including new construction of center core area and roof. (November 2009)
State University College at Oswego 6,500,000Phase V of the concrete shell restoration and window replacement project at several buildings. (August
2009)
State University College at Oswego 6,000,000
Communications systems upgrade involving improvement of the residence hall electronic and electrical
infrastructure, and adapting the campus network to accommodate current construction activities,
modernize the network and provide for future technology capabilities. (August 2009)
State University College at Oswego 9,250,000
Design and construction for the rehabilitation of four buildings. (August 2009)
State University College at New Paltz 12,500,000
Renovation of the Crispell Residence Hall. (January 2010)
State University College at Plattsburgh 4,141,836
Building renovations, including asbestos abatement, plumbing, building envelope, fire sprinkler protection,
heating, lighting, electrical upgrades, interior finishes, lobby and Americans with Disabilities Act compliance.
(March 2010)
SUNY College of Agriculture & Technology at Morrisville 1,000,000
Windows replacement at Pond Quad residence halls. (October 2009)
SUNY College of Agriculture & Technology at Morrisville 6,350,000
Interior renovations and asbestos removal at Mohawk Hall. (March 2010)
SUNY College of Technology at Alfred 1,202,891
Roof replacement at Maingate A and B Residence Halls. (June 2009)
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Fiscal year ended March 31, 2010
(Includes projects valued at $1 million and above)
Dormitory Authority State o New York (A Component Unit o the State o New York)
Project and Purpose Amount
SUNY College of Technology at Alfred 1,111,194
Sprinkler installation at Burdick and Getman Student Residence Halls. (July 2009)
SUNY College of Technology at Canton 1,300,000
Rehabilitation of the exterior and roof at Heritage and Rushton Halls. (December 2009)
SUNY College of Technology at Delhi 1,600,000
Phase III of the continued abatement and renovation of existing bathrooms in Russell Hall and removal and
replacement of domestic water heaters. (April 2009)
SUNY Maritime College at Fort Schuyler 1,356,550
Replacement of the fire alarm system in Baylis Hall, modifications of the fire alarm system in Vanderclute
Hall, and associated abatement work. (October 2009)
Modified Service ProjectsHomeless Housing Assistance Corporation (HHAC) 130,182,303
Six projects for new construction and renovations at homeless housing facilities across the state in the
following counties: Kings, Monroe, Oneida and Rensselaer.
Office of Alcoholism & Substance Abuse Services (OASAS) 49,466,000
The Authority provided funding and offered technical assistance at renovations and new construction for
nine OASAS projects in seven counties.
SUNY Community Colleges 68,557,770
Twenty projects at Broome, Corning, Erie, Fashion Institute of Technology, Hudson Valley, Jamestown,
Mohawk Valley, Nassau, Onondaga, Orange County, Rockland, Tompkins-Cortland and Westchester
Community Colleges.
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Completed Construction Projects
Project and Purpose Amount
City University of New York
Brooklyn College $137,583,653
Construction of a new facility to consolidate student services, provide functional and accessible physical
education facilities, classrooms, and campus services. Along with the demolition of the Plaza Building, the
project includes the demolition of the Bedford Avenue Bridge, and partial reconstruction of the facades of
James and Roosevelt Halls. (November 2009)
City College of New York 6,882,000
Mechanical upgrade in the lower levels of the Marshak Building, including variable air volume units,
replacement of portions of existing ductwork and a heating and ventilation unit. (June 2009)
City College of New York 1,119,000
Removal and replacement of deteriorated wood joists, selective repair of exterior limestone and repair of
deteriorated brick masonry wall and chimney at the rear courtyard of the Alumni House. (April 2009)
City College of New York 86,344,800
Complete gut renovation of a building to house the Bernard and Ann Spitzer School of Architecture. Two
additional floors were added, as well as all new electrical, mechanical and plumbing systems. The building
features electronic classrooms, studio spaces, a model shop, an exhibit hall featuring an atrium open to
the roof, a library, floating stairways, bridges traversing the Atrium and an exterior roof-top amphitheater for
student use. (June 2009)
CUNY School of Law at Queens College 1,650,000
Mechanical upgrades and cooling tower and controls system replacement at CUNY Law School. (April
2009)
Hunter College 24,532,000
Total interior and exterior renovation of the landmarked Roosevelt House to meet new programrequirements. (March 2010)
Medgar Evers College 2,900,000
Rehabilitation of thirteen modular buildings, including flooring, roofing, decking, asbestos containing tile
ceilings, heating/ventilation/air conditioning, asphalt topping and vinyl siding. (August 2009)
Medgar Evers College 1,500,000
Complete replacement of the fire alarm system in the Bedford Building. (October 2009)
Queensborough Community College 2,500,000
Replacement of two service transformers and switchgear. (December 2009)
York College 2,245,000
Design and construction of an alternate egress from the balcony of the main auditorium space in the
Performing Arts Center. (May 2009)
Various CUNY Senior Colleges 15,122,982
Roofing replacements, door storefront replacements, various masonry and miscellaneous work. (June 2009)
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Fiscal year ended March 31, 2010(Includes projects valued at $1 million and above)
Dormitory Authority State o New York (A Component Unit o the State o New York)
Project and Purpose Amount
Office of Mental Health
Binghamton Psychiatric Center 2,900,000
Construction of a new code compliant 24-bed residential transitional living unit. (June 2009)
Elmira Psychiatric Center 1,691,000
Bathroom accessibility and abatement in Buildings 2 through 7. (March 2010)
Manhattan Psychiatric Center 2,670,000
The reconstruction of the steam tunnel roof and wall in Building 122. (June 2009)
Pilgrim Psychiatric Center 1,601,813
Installation of personal assistance systems in various buildings. (July 2009)
Queens Childrens Psychiatric Center 3,600,000
Repoint and waterproof exterior brick on Building 55. (September 2009)
Rockland Childrens Psychiatric Center 55,500,000
Construction of a new 56-bed building to replace Building 124, that includes four 14-bed wards, program,
school and administrative space and secure outdoor recreation space. (February 2010)
Sagamore Childrens Psychiatric Center 6,851,795
Replacement of the fire alarm and sprinkler systems. (July 2009)
Office for People with Developmental Disabilities (OPWDD)
Brooklyn Developmental Disabilities Services Office 2,099,355
Demolition of an existing building and new construction of a seven-bed State Operated Individual
Residential Alternative. (March 2010)
Brooklyn Developmental Disabilities Services Office 2,612,000
Design and construction of the replacement of ten air handling units. (March 2010)
Hudson Valley Developmental Disabilities Services Office 2,463,329
Phase I site work at the Bryant Avenue complex, including gas lines, new roads, site lighting and drainage.
(November 2009)
Office of Alcoholism & Substance Abuse Services
McPike Addiction Treatment Center 1,198,000
Miscellaneous renovations to an existing facility, including exterior grading, soffit replacement and gutter
installation, insulation, security screens and front entrance replacement. (June 2009)
Miscellaneous Programs
Albany Public Library-Howe Branch Renovation 5,242,638
Complete renovation of existing building. (December 2009)
Albany Public Library-Pine Hills Renovation 4,784,436
Complete renovation of existing building. (December 2009)
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Completed Construction Projects (continued)
Project and Purpose Amount
Albany Public Library-Delaware Avenue Renovation 4,728,074
Complete renovation of existing building. (December 2009)
State University of New York
Binghamton University 2,273,407
Completion of Phase I construction, consisting of complete removal of the existing fire alarm and installation
of a new fully addressable fire alarm and detection system. (July 2009)
Binghamton University 1,117,600
Phased removal of the existing fire alarm system and installation of a new fully addressable fire alarm and
detection system. (August 2009)
Binghamton University 58,995,129
Design and construction for the first of eight planned residence halls in this multi-phased project. The
building is 117,000 gross square feet and has 345 beds. (August 2009)
College at Brockport 3,300,000
Installation of a new smoke and fire alarm system for nine residence halls. The new system will be
compatible with the existing campus fire and smoke alarm system. (July 2009)
University at Buffalo 1,567,000
Phase 2 Pump House at the Ellicott Complex. (July 2009)
University at Buffalo 2,540,000
Fire safety improvements at the Ellicott Complex. (August 2009)
University at Buffalo 1,223,000
Bathroom renovation and asbestos abatement at the Ellicott Complex. (August 2009)
University at Buffalo 1,357,000
Roof repairs at the Ellicott Complex. (November 2009)
University at Buffalo 1,266,000
Bathroom renovations at the Ellicott Complex. (January 2010)
Cortland 6,061,000
Renovations to Fitzgerald Hall, including system upgrades. (August 2009)
Geneseo 7,450,000
Mechanical systems upgrade at Saratoga townhomes. (February 2010)
New Paltz 1,960,653
Provide National Fire Protection Agency 13R fire sprinkler systems to Gage, Bouton and College/Shango
Halls. (September 2009)
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Fiscal year ended March 31, 2010
(Includes projects valued at $1 million and above)
Dormitory Authority State o New York (A Component Unit o the State o New York)
Project and Purpose Amount
Oneonta 8,000,000
Total gut rehabilitation of Tobey Residence Hall with the addition of 50 new beds. (July 2009)
Oswego 2,010,000
Replacement and modernization of elevators in Cayuga, Onondaga and Seneca Halls. (August 2009)
Plattsburgh 1,250,000
Renovations to Banks Hall bathrooms. (June 2009)
Morrisville State College 2,775,000
Design and construction to replace fire alarm system at the East, Fountainview, Helyar, Mohawk, Onondaga,
Stewart, South and West residence halls. (August 2009)
Alfred State College 1,900,000
Design services for Sprinkler Fire Protection of Peet, Braddon and Burdick Halls. (August 2009)
Delhi 4,190,000
Russell Hall bathroom rehabilitation Phase I completion. (August 2009)
Delhi 1,600,000
Russell Hall bathroom rehabilitation Phase II completion. (August 2009)
Modified Service Projects
Gen*NY*sis 20,000,000
One new laboratory was constructed and furnished for the Center of Excellence in Bioinformatics at the
Cold Spring Harbor Laboratory. (June 2009)
Homeless Housing Assistance Corporation 82,922,514
Seven renovations and/or construction projects were completed at homeless housing facilities across New
York in the following counties: Bronx, Kings, New York, Oneida, Onondaga and Steuben.
Office of Children and Family Services 1,235,482
The substantial rehabilitation of two existing buildings and the new construction of a transitional space that
connects the buildings. (September 2009)
Office of Alcoholism & Substance Abuse Services 37,116,500
Completion of six projects at substance abuse treatment facilities, including additions and upgrades at St.
Josephs Villa, Catholic Charities of Rochester, Cazenovia Manor Residence, Hope House Youth Program,
Albert Einstein College of Medicine and Renaissance Project.
State University of New York Community Colleges 19,000,000
Completion of three projects at Dutchess, Monroe, and Ulster County Community Colleges. (June 2009)
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We deliver.
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Opportunity Programs Group
DASNY: Leading the Way in Diversity
and Sustainability
DASNY President Paul . Williams, Jr.
contributed not only leadership, but
knowledge gained rom the Authoritys
experience promoting minority and
women-owned businesses when he
became Chairman o Governor Patersons
Executive Order 10 Minority and
Women-Owned Business Enterprise
(MWBE) ask Force. In March 2010,
the ask Force released a final report
offering concrete recommendations to
increase the participation o MWBE
firms in all State agencies and authorities
beyond construction and underwriting
procurements, to also include legal,financial, and proessional services.
Harlem Hospital The $244.1 million
modernization of Harlem Hospital for
the New York City Health and HospitalsCorporation includes a Curtain Wall
on the facade of the New PatientPavilion that features 429 glass
panels depicting three images from a
WPA-era mural. Vertis Hayes originaleight-panel mural The Pursuit of
Happiness follows the history ofAfrican-Americans in this country.
Te ask Force recommendations included creating a uni-
orm RFP process or underwriters that would be used by all
State-supported debt issuers. It recommended outreach to
MWBE firms, a reorm to requirements seen as barriers to
MWBE firms, and encouraged joint ventures with majority
firms. In addition, ask Force recommendations called or
diversity requirements or all firms doing business with New
York State.
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Opportunity Programs Group
Te recommendations have been implemented and proven e-
ective at DASNY and, even more importantly, they have beenincluded in the historic 2010 Business Diversification Act
signed into law by Governor David Paterson in July 2010.
Construction
Efforts to increase the participation o Minority and Women-
Owned Business Enterprises (MWBE) have been part o
the culture o the Dormitory Authority since 1971 when it
began expanding opportunities or construction firms. By
1975, more than 40 contracts on 20 projects were awarded
to MWBE construction firms, and by 1986, that number hadrisen to almost 160 contracts on 80 projects. oday DASNYs
Opportunity Programs Group is not only continuing, but
expanding its leadership, achieving record awards to MWBE
construction and commodity firms in Fiscal Year 2010.
In addition, DASNY offers a rich array o technical and pro-
essional programs and support services specifically designed
to assist MWBE contractors, construction proessional ser-
vices firms, and commodities providers. Tese include:
Historic Bill Signing Gov. David A. Paterson accepted the recommendations
of the Executive Order 10 Minority and Women-Owned Business Enterprise(MWBE) Task Force and signed the historic 2010 Bus