DASNY Closes on $45.6 Million Bond Issuance for Rockland BOCES Capital Improvement Project

Bond Proceeds Will Support Construction of New Educational Facility and Campus Renovations

ALBANY, NY - The Dormitory Authority of the State of New York (DASNY) closed on the $45,640,000 Series 2025 bond issuance for the Board of Cooperative Educational Services of the Sole Supervisory District of Rockland County (Rockland BOCES) to support a comprehensive capital improvement project at the organization's West Nyack campus.

The Series 2025 bonds will finance construction of a new 52,000-square-foot, two-story educational facility and renovations to the existing Jesse J. Kaplan School at the 65 Parrott Road campus in West Nyack. The new building will feature culinary arts commercial kitchens and classroom space, science, technology, engineering and mathematics (STEM) classrooms, a 4,500-square-foot cafeteria, and a 7,500-square-foot gymnasium. The project was approved by voters in March 2024. Rockland BOCES will break ground on the project later this month.

The bonds received strong investor interest with over six times subscriptions during the order period, with final yields ranging from 2.42% to 4.42% and a true interest cost of 4.16%. The transaction was led by Roosevelt & Cross Incorporated as senior manager and supported by co-bond counsel Hodgson Russ LLP and Holley & Pearson-Farrer LLP.

DASNY President Robert J. Rodriguez said, "Through our partnership with Rockland BOCES, DASNY is helping deliver educational facilities that will transform how students learn critical career and technical skills. These modern spaces - from STEM classrooms to culinary arts kitchens - will provide hands-on learning environments that connect directly to the workforce opportunities in Rockland County."

Rockland BOCES District Superintendent Chris D'Ambrese said,"As an educational services agency that exists to support our component school districts, this financing enables Rockland BOCES to dramatically modernize and enhance educational opportunities for our school community. The bond proceeds reflect our ongoing commitment to meeting the evolving needs of our learners with new facilities designed to expand access to our highly specialized programs and services. We greatly value DASNY's partnership and support for the long-term growth of Rockland BOCES."

Rockland BOCES provides shared educational, management and support services to component school districts throughout Rockland County, offering career and technical education, special education, and adult education programs.

About DASNY
Founded in 1944, DASNY 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 $64.6 billion as of September 30, 2025. DASNY is also a prolific public builder with a construction pipeline of approximately 1,000 projects valued at more than $13 billion as of March 31, 2025. To learn more about DASNY, visit https://www.dasny.org.