DASNY and The Arc New York Close on a $7 Million TELP Transaction

DASNY and The Arc New York Close on a $7 Million

Tax-Exempt Equipment Lease Transaction

Delivering State-of-the Art Equipment to New Yorkers with Disabilities

The $7 Million Low-Interest Lease is the First Portion of a $20 Million Authorization for The Arc New York.

Albany, NY – Gerrard P. Bushell, Ph.D., President & CEO of the Dormitory Authority of the State of New York (DASNY), announced today DASNY and The Arc New York (NYSARC, Inc.) closed on a $7.03 million transaction. This is the first transaction of a larger $20 million tax-exempt equipment lease authorization for The Arc New York to acquire adaptive equipment and specialized vehicles for individuals with disabilities, as well as finance information technology equipment upgrades.   “The Arc New York is one of many not-for-profit institutions that utilizes the Tax-Exempt Equipment Leasing Program (TELP) available through DASNY,” said Dr. Bushell. “Every dollar saved through TELP is reinvested, enabling The Arc New York to make needed upgrades that will help advance its mission, supporting New Yorkers with disabilities.”   Utilizing TELP, hospitals, universities, and other not-for-profit institutions have access to DASNY’s tax-exempt financing to obtain lower interest rates for capital equipment leases. In FY 2018, DASNY executed $148.7 million in low-cost leases through TELP.   Over the last two decades, The Arc New York has completed 34 lease transactions totaling approximately $150.1 million through TELP. The Arc New York President Saundra M. Gumerove said, “The tax-exempt rate of the DASNY TELP financing allows us to leverage the savings to purchase additional items. In the current fiscal climate, where our field is struggling to adequately fund our staff and programs, any opportunity for savings is appreciated and necessary.” ### About DASNY Founded in 1944, DASNY – the Dormitory Authority of the State of New York – is New York State’s capital project development authority. It finances and constructs sustainable and resilient science, health and education institutions that help New York thrive. It is one of the largest issuers of tax-exempt bonds in the nation with an outstanding bond portfolio of approximately $55.2 billion as of December 31, 2018. DASNY is also a major public builder with a construction pipeline of 1,003 projects valued at more than $6.56 billion as of November 30, 2018.  About The Arc New York The Arc New York is a family-led organization that advocates and provides support and services to people with intellectual, developmental, and other disabilities, emphasizing choice and community engagement. We have a 70-year history as advocates and service providers. With 51 Chapters across New York State, our organization supports more than 60,000 individuals and families and employs 30,000 people statewide.

Chapters by county:

Western Region Allegany County Allegany Arc Cattaraugus County The ReHabilitation Center Chautauqua County The Resource Center Erie County The Arc Erie County Niagara County Opportunities Unlimited Finger Lakes Region Cayuga County Arc of Seneca Cayuga Chemung County The Arc Chemung Genesee County The Arc Genesee Orleans Livingston County The Arc Livingston Monroe County Arc of Monroe County Ontario County Ontario Arc Orleans County The Arc Genesee Orleans Schuyler County The Arc Schuyler Seneca County   Arc of Seneca Cayuga Steuben County The Arc of Steuben Wayne County Wayne Arc Wyoming County The Arc Livingston-Wyoming Yates County  Arc of Yates Central North Region Herkimer County Arc Herkimer Jefferson County Jefferson Rehabilitation Center Lewis County The Arc Oneida-Lewis Chapter Oneida County The Arc Oneida-Lewis Chapter Oswego County Arc of Oswego County Central South Region

Broome County ACHIEVE Chenango County ACHIEVE Cortland County The Arc Madison Cortland Delaware County The Arc Delaware County Madison County The Arc Madison Cortland Onondaga County Arc of Onondaga Otsego County The Arc Otsego Tioga County ACHIEVE North Country Region Clinton County Advocacy and Resource Center Essex County Mountain Lake Services Franklin County The Adirondack Arc Hamilton County The Adirondack Arc St. Lawrence County St. Lawrence NYSARC Capital Region Albany County Warren, Washington & Albany Counties Chapter Columbia County Coarc Fulton County Lexington Montgomery County Liberty Arc Rensselaer County The Arc of Rensselaer County Saratoga County Saratoga Bridges Schenectady County Schenectady Arc Schoharie County Schoharie County Arc Warren County Warren, Washington & Albany Counties Chapter Washington County Warren, Washington & Albany Counties Chapter

Hudson Valley Region Dutchess County The Arc Dutchess Greene County The Arc Ulster-Greene Orange County The Arc Orange County Putnam County PARC Sullivan County Sullivan Arc Ulster County The Arc Ulster-Greene NYC/Metro Region Bronx County AHRC New York City Kings County AHRC New York City Nassau County AHRC Nassau New York County AHRC New York City Queens County AHRC New York City Richmond County AHRC New York City Rockland County The Arc Rockland Suffolk County AHRC Suffolk Westchester County The Arc Westchester Developmental Centers Benevolent Society (Staten Island) Bronx Developmental Center Community League (Wassic)  Rome Developmental Center Welfare League (Letchworth Village) West Seneca Developmental Center