Provides dormitory authority financing for construction of buildings to be used as a school for Yeshiva Ohr Yoseph

2025 Regular Session

The bill lets DASNY finance and fund construction, acquisition, and equipment for a new private nonprofit school building for Yeshiva Ohr Yoseph at 1128 36th Street, Brooklyn.

REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

Purpose and intent

The bill amends the Public Authorities Law to authorize the Dormitory Authority of the State of New York (DASNY) or another appropriate public authority to provide financing, acquisition, and equipping of a building to be used as a school for Yeshiva Ohr Yoseph.

The project site specified is a building to be located at 1128 36th Street, Kings County, New York.

The entity Yeshiva Ohr Yoseph is described as an independent, not-for-profit private accredited college/school of higher learning, tax-exempt under Internal Revenue Code § 501(c)(3).

Key provisions and changes

Adds a new designation to the Public Authorities Law enabling financing for a specific private, nonprofit school:

Yeshiva Ohr Yoseph is named as eligible for dormitory authority financing for construction, acquisition, and equipping of the designated school building.

Location and use:

Building to be located at 1128 36th Street, Kings County, NY.
To be used as a school (educational facility).

Legal/organizational status:

The recipient is described as an independent, not-for-profit private entity exempt under § 501(c)(3) of the Internal Revenue Code.

Effective date:

The act takes effect immediately upon enactment.

Who would be affected

Yeshiva Ohr Yoseph:

As the project sponsor, would gain access to public-authority financing, acquisition, and completion funding for the construction and equipping of its school facility.

Public authorities and their oversight bodies:

DASNY (or other applicable authority) would engage in financing, procurement, and project management for this specific project under the amended authority.

Local community in Kings County:

Potential impact includes development of a new school facility, construction activities, and related economic effects during development.

Procedural and timeline aspects

Introduction and referral:

Introduced to the Assembly on June 1, 2026.
Referred to the Committee on Corporations, Authorities and Commissions.

No explicit funding terms, repayment schedule, or project timeline are provided in the text available; the bill focuses on qualifying eligibility under the Public Authorities Law for DASNY financing.

Effective date:

Immediate upon enactment.

Summary in brief

This bill expands the Public Authorities Law to authorize DASNY (or a similar authority) to provide financing, acquisition, and equipment funding for a new school building for Yeshiva Ohr Yoseph at 1128 36th Street, Brooklyn. The school is described as an independent nonprofit, 501(c)(3) organization. If enacted, the project would qualify for public-financing assistance for construction and related capital facilities. The bill takes effect immediately upon enactment.