SUNY Syracuse 2027 Series XXVII

The Dormitory Authority of the State of New York (DASNY) is requesting lessor bids on behalf of the State University of New York (SUNY) Syracuse Upstate Medical Center for tax-exempt equipment lease financing totaling $51 million, with proposals due October 14, 2026 at 3:00 p.m. Eastern Time and anticipated award by October 20, 2026. Eligibility is restricted to lessors with an established track record in large-ticket tax-exempt leasing and current approval under the DASNY Tax Exempt Equipment Lease Program (TELP); no subcontracting is permitted.

The project finances a five-year lease of medical equipment and management information systems for SUNY's Syracuse University Hospital and affiliates in Onondaga County, including linear accelerators, nuclear medicine units, ultrasound machines, C-Arms, mammography units, lab equipment, patient monitors, anesthesia machines, radiology workstations, telemetry equipment, beds, computer systems, and IT equipment. The lease term is five years with semi-annual payments in arrears and equipment drawdowns planned over eighteen months. Lessors must fund the entire $51 million amount at a fixed interest rate calculated using Microsoft Excel's standard debt payment model and indexed to 2, 3, or 5-year Treasury Notes or swap rates. Lessors must be willing to fund progress payments from escrowed funds and are required to make vendor payments within 14 days of receiving completed drawdown requests.

The lease must be closed and funded in the lessor's own name, with no assignment permitted during escrow without demonstration of extenuating circumstances. SUNY bears bond counsel fees, DASNY fees, and customary closing costs; the lessor may not assess application, filing, legal, or escrow fees. Standard DASNY TELP documents and New York State contract clauses, including executory clause provisions, will govern the transaction. Contact Erik Finkell, Office of Business Affairs, SUNY System Administration, at Erik.finkell@suny.edu. The targeted closing date is February 26, 2027.