Saturday, April 21, 2012

NY Dormitory Authority to Provide $25MM in Lease Financing

The Board of the Dormitory Authority of the State of New York (DASNY), a public benefit corporation providing financing and construction services to public and private universities, not-for-profit healthcare facilities and other institutions serving the public good, said it will finance a combined $25 million for two organizations through its Tax-Exempt Equipment Leasing Program (TELP).

For NYSARC, an organization that improves the quality of life for people with intellectual and other developmental disabilities, the Board approved a lease of equipment pursuant to DASNY?s TELP II in the total amount of $20 million to finance various computer, communications and office equipment, as well as equipment for chapter programs and vehicles and other transportation equipment.

For United Health Services(Binghamton, NY), the Board approved a lease of equipment pursuant to DASNY?s TELP I in the amount of $5.29 million to finance various cardiology and radiology equipment including a CT Scanner.

Founded in 1944, DASNY is one of the largest higher education, healthcare and public-purpose issuers of public debt in the nation with a bond portfolio of more than $45.2 billion. The Authority also is a major public builder in New York State with a construction pipeline of nearly 700 projects valued at $5.7 billion. TELP has further issued well over 400 not-for-profit, health, higher education and other nonprofit municipal equipment/technology leases that total more than $2.6 billion since program?s inception in 1994.

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