WeVote
Log In

Bill

Bill

S 9355

Authorizes the dormitory authority to provide financing to D'Youville Housing Association LLC for the construction of facilities

2025 Regular Session Introduced by April Baskin

DASNY is authorized to finance or refinance on-campus housing projects for D’Youville University via D’Youville Housing Association LLC, upon enactment.

SUBSTITUTED BY A10602
0
WeVote Research Nonpartisan
Bill Summary · S 9355

Summary of Bill S.9355 (2025-2026) – New York

Title

Authorizes the Dormitory Authority of the State of New York (DASNY) to provide financing to D’Youville Housing Association LLC for construction of facilities

Purpose and Intent

  • The bill authorizes DASNY to finance (and refinance) the acquisition, design, construction, reconstruction, rehabilitation, improvement, furnishing, and equipping of residential housing located on the campus of D’Youville University.
  • The primary objective is to support the development and modernization of on-campus residential housing for students and related housing facilities at D’Youville University.

Key Provisions

Amendments to Public Authorities Law

  1. New Financing Authorization (Section 1)

    • Adds an undesignated paragraph under Paragraph (b) of Subdivision 2 of Section 1676.
    • Grants DASNY the authority to finance or refinance the residential housing projects located on D’Youville University’s campus, specifically through D’Youville Housing Association LLC.
    • Scope includes:
      • Acquisition
      • Design
      • Construction
      • Reconstruction
      • Rehabilitation
      • Improvement
      • Furnishing
      • Equipment
      • Other activities necessary to provide on-campus housing

  2. New Financing Authorization (Section 2)

    • Adds a parallel undesignated paragraph to Subdivision 1 of Section 1680.
    • Reinforces that DASNY may finance or refinance the same set of housing-related activities through D’Youville Housing Association LLC.

Effective Date

  • The act takes effect immediately upon enactment.

Entities Involved

  • DASNY (Dormitory Authority of the State of New York): The financing authority that would issue bonds or provide funding for the on-campus housing project.
  • D’Youville Housing Association LLC: The entity through which financing will be arranged and administered, tied to the on-campus housing development at D’Youville University.
  • D’Youville University: The beneficiary institution where the on-campus residential facilities are to be built, upgraded, or refinanced.

Affected Parties

  • D’Youville University and its students: Potentially lower accommodation costs or improved housing quality due to on-campus housing development.
  • Property developers and lenders involved with the project: Financing would flow through DASNY to the associated LLC.
  • Taxpayers and state residents: Indirectly affected through state-funded or state-backed financing programs and debt issuance.

Procedural and Timeline Notes

  • Introduced by Senator: April Baskin (Co-sponsor)
  • Committee path: Referred to the Senate Committee on Corporations, Authorities and Commissions
  • Advancement: Advanced to third reading as of May 4, 2026
  • Legislative posture: The bill’s text indicates authorization to provide financing immediately upon enactment

Analysis of Impact

  • Financial Impact: Enables DASNY to issue or secure financing for the D’Youville housing project, potentially leveraging state-backed financing structures. Details such as debt size, interest rates, term length, and debt service would be determined in subsequent project issuances and agreements.
  • Strategic Impact: Streamlines on-campus housing development for D’Youville University by utilizing a well-established state financing mechanism through DASNY, which can provide favorable borrowing terms and municipal-style financing.
  • Risk Considerations: As with any state-backed financing, considerations include repayment risk, project feasibility, and long-term affordability for students; specifics would be addressed in project documents and debt issuance.

Bottom Line

Bill S.9355 authorizes DASNY to finance or refinance the construction and related activities for on-campus residential housing at D’Youville University through D’Youville Housing Association LLC. The measure takes effect immediately and would facilitate funding through DASNY’s financing programs, pending standard project underwriting and agreement processes.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.