2010 dasny annual report

7/27/2019 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)


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)


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)


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)


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)


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


29/112


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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.


31/112


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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)


33/112

Fiscal year ended March 31, 2010(Includes projects valued at $1 million and above)



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)


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)


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)


35/112

Fiscal year ended March 31, 2010

(Includes projects valued at $1 million and above)



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


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)


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)


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)


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)



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)


Demolition of an existing building and new construction of a seven-bed State Operated Individual

Residential Alternative. (March 2010)


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



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Completed Construction Projects (continued)


Albany Public Library-Delaware Avenue Renovation 4,728,074


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)


Phased removal of the existing fire alarm system and installation of a new fully addressable fire alarm and

detection system. (August 2009)


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)


Fire safety improvements at the Ellicott Complex. (August 2009)


Bathroom renovation and asbestos abatement at the Ellicott Complex. (August 2009)


Roof repairs at the Ellicott Complex. (November 2009)


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)


39/112

Fiscal year ended March 31, 2010

(Includes projects valued at $1 million and above)



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

2010 dasny annual report

Documents