DASNY

KBRA Assigns AAA Rating with Stable Outlook to Dormitory Authority of the State of New York State Personal Income Tax Revenue Bonds (General Purpose) Series 2024A-1 (Tax-Exempt), Series 2024A-2 (Tax-Exempt), and Series 2024B (Federally Taxable)

Retrieved on: 
Monday, March 11, 2024
Other Professional Services, Professional Services, Business, Finance, Dormitory, PIT, Series, DASNY, AAA, KBRA, General-purpose, Bookkeeping

KBRA assigns a long-term rating of AAA with a Stable Outlook to the Dormitory Authority of the State of New York (DASNY) State Personal Income Tax Revenue Bonds (General Purpose): Series 2024A-1(Tax-Exempt); Series 2024A-2 (Tax-Exempt); and, Series 2024B (Federally Taxable).

Key Points: 
  • KBRA assigns a long-term rating of AAA with a Stable Outlook to the Dormitory Authority of the State of New York (DASNY) State Personal Income Tax Revenue Bonds (General Purpose): Series 2024A-1(Tax-Exempt); Series 2024A-2 (Tax-Exempt); and, Series 2024B (Federally Taxable).
  • The rating was assigned because of the following key credit considerations:
    RBTF Receipts provide ample historical and projected coverage of maximum annual debt service.
  • A strong 2.0x additional bonds test, as well as the importance of residual PIT revenues to fund operations, mitigate against overleveraging.
  • Financing agreement payments are subject to annual appropriation and executory only to the extent of amounts available in the RBTF.

Minority Business Development Institute (MBDI) Celebrates Industry Pillars, and Support for Diverse Businesses at Inaugural Gala, and Announces 2024 Plans

Retrieved on: 
Tuesday, February 20, 2024
CRA, Parity, Senior, Woman, Traveler, Education, SVP, MBDI, DASNY, Diversity, NYPA, Gala, History, MWBE, Organization, Leanne, Flagstar Bank, TCG, Community service, AECOM, Community, Insurance, Watt, Management

Highlights of the inaugural event included MBDI recognizing 42 MWBE and SDVOB business owners, to whom MBDI awarded full tuition scholarships for an advanced leadership development program sponsored by The Travelers.

Key Points: 
  • Highlights of the inaugural event included MBDI recognizing 42 MWBE and SDVOB business owners, to whom MBDI awarded full tuition scholarships for an advanced leadership development program sponsored by The Travelers.
  • We could not have grown to deliver millions in scope safely and successfully within our first 2 years of starting without the support of MBDI."
  • Banks may now accrue "Community Service" by donating to non-profits like MBDI that "provide technical assistance to qualifying small businesses."
  • "This grant paired with MBDI's program embodies advancement, parity and opportunity to help entrepreneurs in skilled trades grow their business."

Preston Hollow Community Capital Completes $51.65 Million Bond Purchase for AMDA College of the Performing Arts

Retrieved on: 
Tuesday, November 7, 2023
Finance, Consulting, Banking, Professional Services, Other Education, Continuing, University, Asset Management, Education, DASNY, PHCC, Nixon Peabody, New York City Mayor's Office of Management and Budget, Dormitory, Orrick, Law, AMDA, College, LLP, Dormitory Authority of the State of New York, Student, Partnership, Counsel, Life insurance, Bond

Preston Hollow Community Capital (“PHCC”) completed the purchase of $51.65 million in tax-exempt and taxable revenue bonds issued through the California Municipal Finance Authority (“CMFA”) and the Dormitory Authority of the State of New York (“DASNY”) on behalf of AMDA College of the Performing Arts (“AMDA”).

Key Points: 
  • Preston Hollow Community Capital (“PHCC”) completed the purchase of $51.65 million in tax-exempt and taxable revenue bonds issued through the California Municipal Finance Authority (“CMFA”) and the Dormitory Authority of the State of New York (“DASNY”) on behalf of AMDA College of the Performing Arts (“AMDA”).
  • The financing, originated by PHCC, was comprised of $91.65 million of bonds -- $31.085 million of tax-exempt bonds plus $4.585 million of taxable bonds through CMFA, and $55.98 million of tax-exempt bonds through DASNY.
  • Proceeds from the issuance will be used to refinance existing bank debt and fund capital improvements at the New York City and Los Angeles campuses.
  • Nixon Peabody LLP served as underwriter’s Counsel and Locke Lord LLP acted as counsel to AMDA.

MBE Certified MGU and DE&I Firm Appoints Insurance Industry Executives to Its Board of Directors

Retrieved on: 
Tuesday, October 25, 2022
Insurance, Construction, Movement, LISC, MWBE, Efficiency, AIG, Traveler, ESG, Ambac, Minority business enterprise, Organization, Diversity, Dormitory, CAC, Partnership, Artificial intelligence, Senior, Dave Cayemitte, Goal, Cloud computing, Social, DE, The Travelers Companies, Industry, Board, CEO, Ecosystem, Dormitory Authority of the State of New York, CPA, Government, Board of directors, DASNY, P&C, MBE, Data science, AXIS, MGU, Social Security Government Pension Offset, Management, Biophysical environment, Chubb, Embrace

We are excited about this strategic partnership and investment in Embrace and proud to support this mission-driven company."

Key Points: 
  • We are excited about this strategic partnership and investment in Embrace and proud to support this mission-driven company."
  • Embrace Partners is led by industry veteran David Cayemitte, a well-respected thought leader and active participant in the insurance and the MWBE marketplaces.
  • As a Minority Business Enterprise (MBE), Embrace will respond to and participate in Environmental, Social and Governance (ESG) initiatives.
  • He continued "Embrace Partners marks a momentous achievement within the insurance industry and leads a broader movement to broadeneconomic opportunities for historically marginalized groups.

Ambac Establishes Strategic Partnership with Embrace Partners, a Minority-Owned Specialty Insurance MGU and DE&I Platform

Retrieved on: 
Tuesday, August 23, 2022
Professional Services, Insurance, DEI (Diversity, Equity and Inclusion), Finance, Partnership, Social Security Government Pension Offset, NYSE, Traveler, Dormitory Authority of the State of New York, The Travelers Companies, Artificial intelligence, Insurance, MBE, Biophysical environment, DE, Ambac, Mischler Financial Group, Social, Goal, Organization, Data science, DASNY, New, Dave Cayemitte, Parity, Dormitory, MGU, Movement, AIG, Cloud computing, ESG, Construction, P&C, Industry, Government, Efficiency, Financial services, Management, Embrace

Ambac Financial Group, Inc. (NYSE: AMBC) (Ambac), a financial services holding company, today announced a strategic partnership via a minority ownership stake in Embrace Partners (Embrace), a tech-driven managing general underwriter (MGU) of specialty commercial insurance and surety.

Key Points: 
  • Ambac Financial Group, Inc. (NYSE: AMBC) (Ambac), a financial services holding company, today announced a strategic partnership via a minority ownership stake in Embrace Partners (Embrace), a tech-driven managing general underwriter (MGU) of specialty commercial insurance and surety.
  • Embrace will trade on Cayemittes commitment to deliver a compelling, tech-driven risk management platform, incorporating insurance and surety solutions for brokers and clients to advance parity goals.
  • David Cayemitte is both a visionary and a tactician, having launched The Cayemitte Group, an insurance brokerage MBE, in 2005, Ambac CEO Claude LeBlanc said.
  • We are excited about this strategic partnership and investment in Embrace and proud to support this mission-driven company.

Roosevelt & Cross Closes $759,115,000 Dormitory Authority of the State of New York School Districts Revenue Bond Financing Program Series 2022A and 2022B

Retrieved on: 
Wednesday, June 15, 2022
Banking, Professional Services, Insurance, Finance, BAM, Roosevelt & Son, Industry, DASNY, Dormitory, Insurance, LinkedIn, Marketing, Program, Policy, Sale, GO, RI, Security (finance), Fed, Series

Roosevelt & Cross acted as the senior book-running manager for a $759,115,000 bond issue for the Dormitory Authoritys School Districts Revenue Bond Financing Program that priced in May 2022.

Key Points: 
  • Roosevelt & Cross acted as the senior book-running manager for a $759,115,000 bond issue for the Dormitory Authoritys School Districts Revenue Bond Financing Program that priced in May 2022.
  • Two series of bonds were issued on behalf of 66 New York school districts to finance infrastructure improvements to facilities and equipment throughout the state.
  • This years DASNY financing marks the 20th anniversary of the program, and the largest issuance since its inception.
  • The bonds are special obligations of DASNY, payable from GO bond payments of the local school district obligors under the program.

Gilbane Building Company Joins Urban Health Plan to Breaks Ground on New State-of-the Art Facility Serving the Hunts Point-Longwood Community

Retrieved on: 
Friday, April 1, 2022
Real estate, Roosevelt, Pacific Architects and Engineers, District Council District Minor Works, HOK, Dormitory Authority of the State of New York, DASNY, Vibration, Hunt's, Federally Qualified Health Center, Joint Commission, Construction, UHP, Overalls, Gilbane Building Company, New York State Department of Health, Associate, Capital, Cross, CEO, Health, Senior, Hunts Point, Consultant, Project management, Dormitory, Quality of life, Certification, Management consulting, Center, PHCC, Architect, Community, Economic development, Solution, Partner, Biophysical environment, NYSDOH, Patient, Health insurance, Medicine, Gilbane, Inc.

BRONX, N.Y., April 1, 2022 /PRNewswire-PRWeb/ -- Gilbane Building Company today joined Urban Health Plan (UHP), one of the largest Federally Qualified Health Centers in New York State, to break ground at 1095 Southern Boulevard to celebrate the development of their newest site. The state-of-the-art, 52,000 square-foot-health care facility, will expand access to quality primary and specialized health care and house programs designed to address some of the most critical health issues impacting Hunts Point and Longwood residents.

Key Points: 
  • "Gilbane is proud to serve as a partner in creating this new, modern health center that will provide vital health services to the Hunts Point-Longwood community," said John LaRow, Senior Vice President, Gilbane Building Company.
  • Expected to open in the spring of 2024, the modern, five-story health center will also bring economic development and environmental health benefits to the community.
  • "Today's groundbreaking represents a milestone for both Urban Health Plan and our community, said Paloma Hernandez, President, and CEO of Urban Health Plan.
  • Urban Health Plan (UHP), a health system of federally qualified community health centers based in the South Bronx, Central Harlem and Corona, Queens, has served the community since 1974.

Manatt Expands Health Care Capabilities, Adding Former New York State Department of Health Director Tracy Raleigh

Retrieved on: 
Thursday, September 30, 2021
Professional Services, Health, Other Professional Services, Legal, Other Health, General Health, Consulting, Linda, New, Venture capital financing, Assistant, LLP, Policy, VAP, Partner (business rank), Vaccine, Pleasure, Program, DASNY, Union College, Flex, Health, Association, Dormitory, Health care, VBP, Hospital, Board, Industry, Group, B.A, Center, CEO, New York State Department of Health, Strategic planning, Leadership, Value, COVID-19, Technology, Certificate, Center for Planning Excellence, Fortune 500, Capital, New York City Department of Health and Mental Hygiene, Raleigh, North Carolina, Organization, Licensure, Government, NYSDOH, State, Union Graduate College, Public finance, Management, Medicine

Manatt, Phelps & Phillips, LLP, a multidisciplinary, integrated professional services firm, announced today that Senior Advisor Tracy F. Raleigh has joined Manatt Health in the firms Albany office.

Key Points: 
  • Manatt, Phelps & Phillips, LLP, a multidisciplinary, integrated professional services firm, announced today that Senior Advisor Tracy F. Raleigh has joined Manatt Health in the firms Albany office.
  • Tracys extensive government experience complements our Albany teams robust offerings in the health care space, and will be invaluable for both our New York State and national clients.
  • Raleigh advises providers and other health care organizations on strategic planning, performance improvement, delivery system transformation, capital financing and financial restructuring.
  • Tracy brings impressive leadership experience across multiple government agencies within New York State, especially as it relates to payment and delivery system reform and health care provider debt and financing, said Bill Bernstein , leader of Manatt Health.