Adelphi University Center

Project ID Code: LDC 025-3/19 LDC
Tax Exempt Bond Financing and Refunding of 09 Bonds

Project: The applicant seeks to expand the 74,272, square foot University Center by 24,164 square feet. This expansion is for the student dining center, additionally a new school store and larger meeting spaces for student organizations, there also will be an added enhanced art gallery with state of the art technology. Adelphi is also looking to refinance its 2009B Bonds that are currently financed with the TOH LDC.

Total amount of project: $24,985,000.00
Refunding 2009B $18,700,000.00
New Money $6,285,000.00

Project Address:
Adelphi University
South Avenue
Garden City, New York 11530

Robert DeCarlo
Controller and Associate Vice President
Finance & Administration /
516.877.3184 / f 516.877.3188
South Avenue
Garden City, New York 11530

Closing Date: pre closing – 05/8/19, closing – 5/9/19

Bond Counsel Bill Weir & Terence Walsh
Paralegal: Beth Wood
Benefits received: Tax Exempt Bonds
Dated Date 05/09/2019
Delivery Date 05/09/2019
Last Maturity 02/01/2039
Optional Redemption: 2/1/2029
Interest Rate: 4%

Jobs Retained: 2995
(This series will not create new jobs, this figure is reflective of all employees on campus)
Full Time: 1,190 Part-time:   3,610
FTE’s Created: 0

Benefit Sought:
Tax Exempt Bond Financing (Refunding)

Attorney Representing Company:
Peter L. Curry, Esq.
Farrell Fritz
290 Broad Hollow Road
Melville, N.Y. 11747
631-367-0781 Phone
631-547-0501 Fax

Bond Trustee:
Aida Tufekcic
240 Greenwich Street
New York, NY 10286

Compliance Fee: $1,500.00 per yr beginning 2019