What LDC benefits are available?
The LDC offers tax-exempt bond financing to eligible not-for-profit organizations that show a compelling need for assistance in reducing their cost for financing through the consolidation or refinancing of current debt, financing the renovation of existing facilities or financing the construction of new facilities. All of these benefits are intended to help not-for-profit organizations serve their missions.
The benefits are governed by New York State law and require that the organization and the LDC enter into formal legal agreements.
New York State General Municipal Law & Related:
Authority Budget Office of the State of New York
Recent LDC Project Success Stories:
Education Projects
Sarah Lawrence College (2020): $40,000,000 bond issuance and $546,000 MRTE for refunding of 2016 LDC bonds and to reduce line of credit utilization.
Rippowan Cisqua School (2016): $26,500,000 bond issuance and $6,000,000 MRTE for construction and renovation of Upper Campus facilities.
Healthcare Projects
New York Blood Center (2024): $48,860,000 bond issuance for renovation, rehabilitation and equipping of 187,000 medical research and office facility.
Westchester Medical Center (2020): $40,000,000 bond issuance for capital projects, new equipment and to refinance outstanding debt.
Senior Care and Social Services Projects
Kendal on Hudson (2022): $53,995,000 bond issuance for refinancing of existing debt and facility renovations.
Purchase Senior Learning Community, Inc. (2022): $398,090,000 bond issuance for development and operation of a senior residential community.