HUGH L. CAREY BATTERY PARK CITY AUTHORITY
Meeting of the Members
200 Liberty Street, 24
th
Floor
New York, NY 10281
January 30, 2024
Members Present
Donald Capoccia, Chair
Louis Bevilacqua, Member (remote)
Martha Gallo, Member
Catherine McVay Hughes, Member
Lester Petracca, Member
Authority Staff in Attendance: Raju Mann, President & CEO
Sharmila Baichu, Chief Human Resources Officer
Marie Baptiste, Deputy Treasurer
Brett Beecham, Associate General Counsel
Zachary Bergen, Deputy General Counsel, Procurement &
Contracts
Donna A. Canfield, Deputy General Counsel, Labor &
Employment
Daniel C. Carmalt, Esq., Chief Construction Counsel
Gwen Dawson, Senior Vice President, Real Property
Dan Dickson, Director of Planning and Design
Pamela Frederick, Chief Financial Officer/Treasurer
Claudia Filomena, Senior Director of Capital Projects and
Resiliency
Sarah Fisher Curtin, Director of Sustainability
Abigail Goldenberg, General Counsel
Megan Hood, Deputy General Counsel, Real Estate
Angela Howard, AVP of Construction & Site Management
Craig Hudon, Vice President of Parks Programming
Karl Koenig, Controller
John Lonie, Communications & Public Affairs Coordinator
Eric Munson, Chief Operating Officer
Lauren Murtha, Paralegal/Assistant Corporate Secretary
Jahmeliah Nathan, Vice President of Administration
Robert Nesmith, Chief Contracting Officer
Jason Rachnowitz, Deputy Controller
Kimberlae Saul, AVP Planning & Design
Nicholas Sbordone, Vice President of Communications and Public
Affairs
Alexis Torres Cid, Chief of Staff
Ryan Torres, Vice President of Parks Operations
Yves Veve, Senior Director of Infrastructure
Others in Attendance: Dan McElwee, Mayers, Hoffman & McCann
Philip Marciano, CBIZ
Scott Woznicki, CBIZ
Louis Sarno, Ramirez Asset Management
Various Members of the Public
The meeting, called on public notice in accordance with the New York State Open
Meetings Law, convened at 2:06 pm.
* * *
The first item on the agenda was a request for approval of the minutes of the November
29, 2023 meeting. Upon a motion made by Ms. Gallo and seconded by Mr. Petracca, the following
resolution was unanimously adopted:
APPROVAL OF MINUTES OF THE NOVEMBER 29, 2023 MEETING
BE IT RESOLVED, that the minutes of the meeting of the Members of the Hugh L. Carey Battery
Park City Authority held on November 29, 2023, are hereby approved.
* * *
Next, there was one comment submitted by the public that was presented during the period
of public comment.
* * *
The next item on the agenda was the M/WBE Utilization Report presented by Ms. Nathan.
Ms. Nathan reported that for the months of October through December, of the Authority's
total qualifying spend of approximately $33 million, $4.6 million was spent on non-resiliency
program contracts, and approximately $28.4 million was spent on resiliency program contracts.
Of the non-resiliency spend, $1.3 million or 28% was paid to MWBEs and 4% to SDVOBs. Of
the resiliency program spend, approximately $3.4 million or 12% was paid to MWBEs and 1%
paid to SDVOBs.
* * *
The next item on the agenda was an update on the Authority’s resiliency projects by Ms.
Filomena and Ms. Fisher Curtin.
For our Northwest Resiliency Project, Ms. Filomena stated that Reaches 1, 2 and 5, which
are Route 9A, North Esplanade, and North Cove Marina sections of the project, received the 40%
design update. The 60% design development was still ongoing. Also, agency and stakeholder
consultations were ongoing as the project continues to advance. She noted we would be filing a
joint permit application for the Northwest project with the Army Corp of Engineers and the
Department of Environmental Conservation.
For the South Project, Ms. Filomena stated that in the last month the following work has
taken place at the Wagner Park/MJH section of the project: backfilling and soil compaction for the
cistern, installation of flood wall soil anchors, partial installation of the flood wall micro piles,
wailers, and concrete framework, partial relocation of communication and gas main utilities,
partial installation of site drainage, installation of the pavilion foundation pile caps and grade
beams, partial installation of pavilion electrical and plumbing infrastructure, final color selection
of the pavilion's architectural concrete, and Phase II pavilion architectural concrete mockup has
been completed. The Pier A Plaza and Battery site has undergone partial site demolition, site
salvaging, and test pits for underground utilities.
For Sustainability updates, Ms. Fisher Curtin explained that the urban tree canopy
assessment and biodiversity assessment work was completed, and this spring a public tree canopy
interactive map would be launched. This past weekend we partnered with the Javits Center and the
American Kennel Association to pilot dog waste composting at their annual Meet the Breeds event.
Over 90 pounds of dog waste was collected from the event. That at was a first collaboration with
Javits, a little interagency interaction and a new partner of the American Kennel Association. The
annual tree recycling program concluded with over 1,700 trees chipped.
* * *
The next item on the agenda, presented by Ms. Frederick, was an approval of the
Investment Report & Guidelines for Fiscal Year Ended October 31, 2023.
Ms. Frederick first provided the Members with an update from the Investment Committee
which met prior to this meeting. The meeting was led by Committee Chair Lester Petracca, and in
attendance were members Catherine McVay Hughes and Martha Gallo, as well as the Authority’s
investment advisors, PFM Asset Management and Ramirez Asset Management. The Committee
reviewed the Investment Guidelines and Report for fiscal year-end October 31, 2023, and the
Advisors also provided a summary of the performance for fiscal year '23 as well as a review of
market conditions since November 1
st
. The Committee voted unanimously to recommend to the
Board to approve the Investment Report and Guidelines for October 31, 2023, and to recommend
the filing of these reports to the required government entities, and to post them on PARIS and the
Authority's website.
The Authority is seeking approval of the Board for the Investment Guidelines as
recommended by the Investment Committee. She noted that the Authority held $900 million at
fair value in investment assets at the end of the fiscal year, and these consisted primarily of U.S.
Treasures, about 95% of our portfolio, and $26 million in cash. There were no changes to the
Investment Guidelines and BPCA complied with all of the investment guidelines conditions.
The Investment Advisors were present to answer any questions.
Upon a motion made by Mr. Petracca and seconded by Ms. Gallo, the following resolution
was unanimously adopted:
APPROVAL OF THE INVESTMENT GUIDELINES & REPORT FOR THE FISCAL
YEAR ENDED OCTOBER 31, 2023
BE IT RESOLVED, that the Investment Guidelines & Report of the Hugh L. Carey Battery Park
City Authority (the “Authority”) for the fiscal year ended October 31, 2023 in the form presented
to this meeting, be, and hereby is approved; and be it further
RESOLVED, that the Chief Financial Officer and Treasurer of the Authority be, and hereby is,
directed to file said Investment Guidelines and Report with the: (1) NYS Division of the Budget:
(2) NYS Department of Audit and Control; the Chairman and ranking Minority Members of the
(3) New York State Senate Finance Committee; and (4) New York State Assembly Ways and
Means Committee, as required by Section 2925 of the Public Authorities Law, Public Authorities
Accountability Act of 2005 and the New York State Comptroller’s Regulation 2 NYCRR (Part
203); and be it further
RESOLVED, that Investment Guidelines & Report be posted on the NY State Public Authorities
Reporting System (PARIS) and the Authority’s website; and be it further
RESOLVED, that the Assistant Corporate Secretary of the Authority be, and hereby is, directed to
file said Investment Guidelines & Report with the minutes of this meeting; and be it further
RESOLVED, that any and all actions taken by any officer of the Authority in connection with the
preparation of such policies and procedures are hereby ratified, confirmed and approved.
* * *
The next item on the agenda, presented by Ms. Frederick, was the acceptance of the
Audited Financial Statements for Fiscal Year Ended October 31, 2023 and Authorization to File
on PARIS.
Ms. Frederick first provided the Members with an update from the Audit Committee which
also met prior to this meeting. In attendance were the committee members, Acting Chair Martha
Gallo and Lester Petracca. Ms. Frederick stated that the committee reviewed the annual audit
presentation, including the financial statements as presented by our engagement lead, Phil
Marciano from Mayer, Hoffman & McCann (MHM), the Authority's independent auditors. The
committee also met with Scott Wisniewski, Managing Director and Technology lead for MHM as
well.
Ms. Frederick reported that the audit revealed no weaknesses or control deficiencies, and
there were no significant changes in accounting principles. The committee also reviewed estimates
and judgments, the IT audit, as well as making note that we had a pretty significant bond issuance
and termination of our swap portfolio. Mr. Marciano stated that MHM’s opinion will be clean on
the financial statements and on its report of the Authority’s compliance with its investment
guidelines. He explained that the audit is very thorough and is conducted in accordance with
government auditing standards, as well as generally accepted auditing standards. That requires
MHM to report on any control deficiencies or compliance issues that are material to the financials.
No such issues came to MHM’s attention. MHM was to issue its audit report before the January
31 deadline.
The Audit Committee voted unanimously to recommend to the Board to accept and
approve the audited financial statement for fiscal year end October 31, 2023, and to recommend
filing of the statement with the required government entities, and to post the statement on PARIS,
and the Authority's website.
Upon a motion made by Ms. Gallo and seconded by Mr. Petracca, the following resolution
was unanimously adopted:
RESOLUTION OF THE MEMBERS REGARDING THE AUTHORITYS AUDITED
FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED OCTOBER 31, 2023
BE IT RESOLVED, that the Members hereby accept the Audited Financial Statements for the
Fiscal Year ended October 31, 2023 and be it further
RESOLVED, that the Members authorize the filing of the Audited Financial Statements,
substantially in the form presented at this meeting, with the required governmental entities and
with the trustees under the Authority’s bond resolutions, and the posting of a copy of the Audited
Financial Statements on the Public Authorities Report Information System (“PARIS”) and on the
Authority’s website.
* * *
The next item on the agenda, presented by Ms. Frederick, was Approval to Enter Into an
Agreement with Mohanty Gargiulo, LLC for Qualified Independent Representative and Interest
Rate Advisory Services.
Ms. Frederick began by explaining that the Authority issued a discretionary procurement
for the services of a QIR or Qualified Independent Representative, and this was a MWBE, WBE
and SDVOB procurement. The RFP was broadly available and sent to firms that previously
expressed an interest and those identified in the state’s MWBE directory. It was also posted in the
New York Contract Reporter. Only Mohanty responded with a proposal, and given it was found
to be fair value and unchanged from their prior contract, the then CEO approved their selection
given it was a single bid.
Mohanty Gargiulo focuses exclusively on interest rate and derivative products and given
their breadth and depth of expertise, which we have utilized in the past where they provided us
consulting services when we amended our swaps in 2019 and also when we terminated the swap
portfolio in 2023. Their expertise will be necessary in the upcoming year as we look to return to
the bond market. They will assist in the evaluation of highly structured bond products that are
presented to the Authority, some of which have imbedded derivatives. Underwriters can't present
those to us without a QIR, so we would want to have their services available. Therefore, we seek
the approval of Mohanty as our qualified independent representative for one year with two
additional one-year extensions available at the Authority's option. That would be a total of three
years for a not to exceed value of $150,000.
Upon a motion made by Ms. McVay Hughes and seconded by Ms. Gallo, the following
resolution was unanimously adopted:
APPROVAL TO ENTER INTO AN AGREEMENT WITH MOHANTY GARGIULO, LLC
FOR QUALIFIED INDEPENDENT REPRESENTATIVE AND INTEREST RATE
ADVISORY SERVICES
BE IT RESOLVED, that in accordance with the materials submitted at this Board meeting, the
President and Chief Executive Officer (the “President”) of the Battery Park City Authority or
his/her designee(s) be, and each of them hereby is, authorized and empowered to enter into an
agreement with Mohanty Gargiulo, LLC (the “Agreement”) to provide qualified independent
representative and interest rate advisory services for a term of one (1) year with the Authority
having the sole option of extending for two (2) additional single year terms for a not to exceed
amount of $150,000.00; and be it further
RESOLVED, that the President or his/her designee(s), and each of them hereby is, authorized and
empowered to execute and deliver the Agreement on behalf of the Authority, subject to such
changes as the officer or officers executing the Agreements shall, with the advice of counsel,
approve as necessary and appropriate and in the best interest of the Authority, such approval to be
conclusive evidence by the execution and delivery of the Agreement; and be it further
RESOLVED, that the President or his/her designee(s) be, and each of them hereby is, authorized
and empowered to execute all such other and further documents, and to take all such other and
further actions as may be necessary, desirable or appropriate, in connection with the transactions
contemplated in the foregoing resolutions, and any such execution of documents and any other and
further actions heretofore taken are hereby ratified, and any actions hereafter taken are confirmed
and approved.
* * *
The next item on the agenda, presented by Ms. Frederick, was the Approval of the Prompt
Payment Report and Prompt Payment Policy for Fiscal Year Ended October 31, 2023.
Ms. Frederick explained that this was an annual requirement of the Public Authority's Law.
The only change this year was the identification by the Authority of 63 payments, down from 122,
nearly cut it in half since 2022, that were made more than 30 days after receipt of a proper invoice
by the Finance department. These resulted in the Authority owing $12,813.40 in interest, down
from $41,316.00 in 2022. She noted a great effort by the team. Ms. Frederick recommend approval
of the Prompt Pay Policy and the Prompt Pay Report as of the fiscal year end October 31, 2023,
and the authorization to file with the required government entities and to post them on PARIS and
the Authority's website as required.
Upon a motion made by Ms. Gallo and seconded by Ms. McVay Hughes, the following
resolution was unanimously adopted:
APPROVAL OF PROMPT PAYMENT REPORT FOR FISCAL YEAR ENDED
OCTOBER 31, 2023 AND PROMPT PAYMENT POLICY EFFECTIVE JANUARY 1, 2024
BE IT RESOLVED, that the Prompt Payment Report of the Authority for the fiscal year ended
October 31, 2023 and the Prompt Payment Policy effective January 1, 2024 in the form presented
to this meeting, be, and hereby are approved; and be it further
RESOLVED, that the Treasurer of the Authority be, and hereby is, directed to file said Prompt
Payment Report and Prompt Payment Policy with the (1) New York State Division of the Budget;
(2) New York State Department of Audit and Control; the Chairman and ranking Minority
Members of the (3) New York State Senate Finance Committee; and (4) New York State Assembly
Ways and Means Committee, as required by Section 2880 of the Public Authorities Law; and be
it further
RESOLVED, that the Assistant Corporate Secretary of the Authority be, and hereby is, directed to
file the Prompt Payment Report and Prompt Payment Policy with the minutes of this meeting; and
be it further
RESOLVED, that Prompt Payment Report and Prompt Payment Policy be posted to the
Authority’s website and the NY State Public Authorities Reporting System; and be it further
RESOLVED, that any and all actions taken by any officer of the Authority in connection with the
preparation of such policies and procedures is hereby ratified, confirmed, and approved.
* * *
The next item on the agenda, presented by Ms. Frederick, was the ratification,
confirmation, and authorization to sign financial and bank-related documentation.
Ms. Frederick stated that this item sought Board approval to add our new CEO, Raju Mann,
to the Authority’s incumbency certificate, which now includes the CFO, the COO, and the General
Counsel. This addition will allow Mr. Mann to execute payments, checks, and other financial
instruments. Ms. Frederick recommended the approval of the resolution for this change to the
incumbency certificate.
Upon a motion made by Ms. Gallo and seconded by Ms. McVay Hughes, the following
resolution was unanimously adopted:
RATIFICATION, CONFIRMATION AND AUTHORIZATION TO SIGN FINANCIAL
AND BANK-RELATED DOCUMENTATION, INCLUDING CHECKS, VOUCHERS,
REQUISITIONS AND OTHER INSTRUMENTS
BE IT RESOLVED, that consistent with the Battery Park City Authority’s (the “Authority”)
enabling legislation and By-Laws, we hereby ratify, confirm and authorize the officers identified
below and on the attached Incumbency Certificate to transact business and issue instructions to
banking and financial institutions on behalf of the Authority, provided that any documentation
relating to such transactions that exceeds $50,000 must be signed by at least two of the following
Authorized Officers: Raju Mann, President & Chief Executive Officer, Abigail Goldenberg,
General Counsel, Pamela Frederick, Chief Financial Officer/Treasurer, and Eric Munson, Chief
Operating Officer. This authorization shall include, but not be limited to, execution of
documentation in connection with financial and banking transactions, requisitions of monies,
signing of checks, vouchers, requisitions and other instruments made by the Authority or to which
the Authority may be a party; and be it further
RESOLVED, that any and all actions taken by any of the Authorized Officers in connection with
the above transactions, actions or filings are hereby ratified, confirmed and approved; and be it
further
RESOLVED, that the Assistant Corporate Secretary of the Authority be, and hereby is, directed to
file this resolution with the minutes of this meeting.
* * *
The next item on the agenda, presented by Ms. Goldenberg, was an approval to extend the
term of the Pre-Qualified Panel for Real Estate Advisory Services.
Ms. Goldenberg explained that in March of 2019, the Board approved a prequalified panel
of professionals to assist us in our portfolio of real estate assets. That panel was for a term of up to
five years and expires at the end of March of this year. The Legal department is excitedly crafting
a new RFP to go to market and expand as much as we can our portfolio of prequalified experts to
support us, and we anticipate that being advertised shortly. In the interim, to keep consistency of
services and dovetail the old panel with the new panel, which we will present to you shortly, we're
asking to extend the existing prequalified panel for a period of six months.
Upon a motion made by Ms. Gallo and seconded by Ms. McVay Hughes, the following
resolution was unanimously adopted.
APPROVAL OF TERM EXTENSION FOR PRE-QUALIFIED PANEL FOR REAL
ESTATE ADVISORY SERVICES
BE IT RESOLVED, that in accordance with the materials submitted at this Board meeting, the
term of the approval of the panel of prequalified real estate advisory firms described in Appendix
A (collectively, the “Firms”) is hereby extended for a period six (6) months through September
25, 2024 and the President and Chief Executive Officer (the “President”) of the Battery Park City
Authority or his/her designee(s) be, and each of them hereby is, authorized and empowered to
enter into or extend agreements (the “Agreements”) with the Firms on an as needed basis, in
accordance with the requirements of the Authority’s Pre-Qualified Vendor Policy; and be it further
RESOLVED, that the President or his/her designee(s), and each of them hereby is, authorized and
empowered to execute and deliver the Agreements on behalf of the Authority, subject to such
changes as the officer or officers executing the Agreements shall, with the advice of counsel,
approve as necessary and appropriate and in the best interest of the Authority, such approval to be
conclusive evidence by the execution and delivery of the Agreement; and be it further
RESOLVED, that the President or his/her designee(s) be, and each of them hereby is, authorized
and empowered to execute all such other and further documents, and to take all such other and
further actions as may be necessary, desirable or appropriate, in connection with the transactions
contemplated in the foregoing resolutions, and any such execution of documents and any other and
further actions heretofore taken are hereby ratified, and any actions hereafter taken are confirmed
and approved.
APPENDIX A
Real Estate Consultant Services
1) CBRE
2) HR&A Advisors
3) Infrastructure Advisors
4) Washington Square Advisors
5) Savills
* * *
The next item on the agenda, presented by Mr. Munson, was the Approval of the Proposed
2024 Procurement Guidelines and Acceptance of 2023 Procurement Report.
Mr. Munson began by explaining this requirement stems from a Public Authority's Law
requirement that we present for your approval the guidelines that govern our procurement activities
for the year, as well as a report of the prior fiscal year's procurement activities. The guidelines can
be amended at any time by management over the course of the year, but each year we take this
opportunity to revisit it, make sure that it comports with best practices, with applicable law, and
with the guidelines of other entities that procure in New York State. As always, our goal is to be
able to purchase the goods and services that we need efficiently while at the same time assuring a
competitive and fair process for all of our procurements. The guidelines being presented are
substantially similar to the ones presented last year. There were some syntax and other minor
language changes. One notable change he mentioned was that the small dollar maintenance
contracts will longer be exempt from Board approval. In the interest of expediency, those items
will be coupled into a sort of general approval calendar, so that we can do so efficiently in the
meetings, but we don't believe that we can fully exempt them from the requirements going forward.
Mr. Capoccia asked what was considered a small dollar amount. Mr. Munson explained
now we would require any procurement that extends over a year to be brought to the Board if it's
in excess of $5,000.00.
Mr. Munson then went on to thank the Procurement Department, Robert, Emily, Shinay,
Mike, and Jennifer with oversight from Jahmeliah, as well as everyone at the Authority for their
hard work completing 175 procurements last year valued at over $161 million, so a really
tremendous effort. And most importantly, he gave a special shoutout to our Chief Contracting
Officer, Robert Nesmith, who, after nearly 11 years with the Authority, and 30 years in public
service, was retiring at the end of business today. Robert has been a steadfast member of the team
lending his considerable knowledge to State procurement practices, as well as sort of a genuine
desire to help his colleagues day in and day out, and just on a personal note, he's an incredibly kind
person who I know that many of my colleagues and I will miss dearly over the year ahead. He has
lots to be proud of given the fact that he's had his hand in literally everything that we've bought
over the past 11 years. So many, many thanks to you, Robert.
Upon a motion made by Mr. Petracca and seconded by Ms. McVay Hughes, the following
resolution was unanimously adopted:
APPROVAL OF 2024 PROCUREMENT GUIDELINES, ACCEPTANCE OF THE
PROCUREMENT REPORT FOR FY2023, AND AUTHORIZATION TO FILE SAME
BE IT RESOLVED, that the 2024 Procurement Guidelines and the Procurement Report for the
fiscal year ended October 31, 2023, in the form presented at this meeting, be, and hereby are
accepted and approved; and be it further
RESOLVED, that the Chief Financial Officer of the Authority be, and hereby is, directed to file
said Procurement Guidelines and Procurement Report, subject to such changes as the officer or
officers filing the Procurement Guidelines or Procurement Report shall, with the advice of counsel,
approve as necessary and appropriate and in the best interest of the Authority, with the New York
State Division of the Budget and copies thereof with the New York State Department of Audit and
Control, the Chairman and ranking Minority Member of the New York State Senate Finance
Committee and the Chairman and ranking Minority Member of the New York State Assembly
Ways and Means Committee, as required by Section 2879 of the Public Authorities Law; and be
it further
RESOLVED, that any and all actions taken by any officer of the Authority in connection with the
preparation of such policies and procedures is hereby ratified, confirmed and approved; and be it
further
RESOLVED, that the Assistant Corporate Secretary of the Authority be, and hereby is, directed to
file the Authority’s Procurement Guidelines and Procurement Report with the Minutes of this
meeting.
* * *
The next item on the agenda, presented by Ms. Dawson, was an approval of the proposed
first amendment for the progressive design-build contract for the North/West Battery Park City
Resiliency Project between Battery Park City Authority and the joint venture of Turner and EE
Cruz, dated November 2, 2022 (the “PDB Contract”).
Ms. Dawson reminded the Members that the Authority was undertaking this project as a
Progressive Design Build (“PDB”) project, and it was the first PDB effort as an Authority. The
PDB team retained by the Authority is being led by Turner Construction and E.E. Cruz
Construction with design efforts headed by Arcadis Engineering. The PDB process for the
Northwest project is divided into two phases. Phase one is the design phase.
The Authority entered into a contract with the PDB team in November of 2022 to perform
phase one design services for the project. That process has been underway for more than a year,
and certain changes to the contract were required to cover the phase one design services for the
project. Dawson presented slides showing the areas of the project and noted that there were several
design challenges, including four in particular that were to be discussed. One was the need for a
permanent pumping station to address interior drainage, the second was coordination with the Port
Authority Path Tunnels under Reach 5, third was the alignment challenges encountered in Tribeca
and along the Route 9A highway alignment, and the fourth was the Esplanade north of Stuyvesant
and the permitting and property ownership matters we've had to deal with there.
The first design issue, Ms. Dawson explained, was the requirement to add a permanent
pumping station to mitigate “ponding” and to keep flooding to a level below one foot in depth in
order to achieve FEMA certification. She explained the Authority had been working directly with
the New York City Department of Environmental Projection (“DEP”) because they were
responsible for operating the interior drainage components of all of these projects. In order to
address the volume of residual flooding, it was determined a permanent pump station was
necessary to take the excess water accumulation and pump it out into the river during events where
that was needed.
The second design issue, Ms. Dawson stated, was resolving the coordination with the Port
Authority Path tunnels. The Path tunnels pass directly under the Esplanade, the Waterfront Plaza,
all the way over to West Street, and there are also additional utilities and easements associated
with river water intake on the left side. So, in order to get a continuous flood barrier system at this
location, the design team has had to be extraordinarily creative as well as collaborative with Port
Authority and the other entities and stakeholders that are implicated here. A “bridging structure,”
must be installed and constructed to go over the path tunnels and not create any additional weight
on top of those Path tunnels, or to in anyway risk threatening the integrity of those tunnels. In
addition to the bridging structures astride the path tunnels, there are supportive structural piles we
have to be aware of so as not to put at risk the structural integrity of the relieving platform.
The third design issue Ms. Dawson explained was the Tribeca/Route 9A alignment. The
design flood elevation is particularly high here given the proximity to the water, the tides, and a
lot of the tidal coastal complexities. That created the need for a 9-1/2’ to 10’ tall barrier wall along
Route 9A that was objectionable to a number of the stakeholders involved, who raised concerns
about sight lines and visibility alongside Route 9A for pedestrians, cyclists, for motorists. Several
different options were tried to address some of these concerns. One was putting a portion of the
alignment in the median, in the middle, but that really did not solve the concerns because it was
still a very high barrier. So in order to address the concerns is the current alignment, westward
along North Moore, and then southward, the barrier system stays on the east side of Route 9A and
parallels the wall of the Borough of Manhattan Community College, goes southward, crosses
Harrison Street, and continues south to a crossing which is significantly further south than the
original design thereby creating a less significant barriers at the roadway and at the park.
The fourth and final design issue, for this amendment, was the North Esplanade, and related
permitting and property ownership challenges. The North Esplanade really forms the boundary
between Battery Park City and Hudson River Park. In terms of design, we created a flood barrier
line that runs parallel to Stuyvesant High School that runs along the building's edge, but creates an
additional space requirement. Also, because of how it was originally constructed with the building,
the relieving platform here will need to be rebuilt and raised. In order to achieve adaptability and
also create space for pedestrian circulation in this location the design team has determined that an
extension of six feet of this Esplanade is necessary to achieve the project goals. This would be a
cantilevered type of extension, it would not extend into the water, but would extend over the water.
Nevertheless, it constitutes an encroachment into the space that's owned and controlled by Hudson
River Park Trust. So, we have gone to great lengths to coordinate with both the State Department
of Environmental Conservation, which is in charge of permitting these types of projects in the
water, and with Hudson River Park Trust to coordinate how best to address the property
encroachment here. And we've really tried out a lot of different alignments, a lot of different
configurations here, some of which have extended the Esplanade much further than six feet, and
ultimately concluded that this is sort of the bare minimum of what we need to do in order to achieve
the project goals.
Ms. McVay Hughes asked if there was a backup generator that's part of the planning for
the pump station, since the power went out for a lot of downtown during Sandy. Ms. Dawson
stated, yes. Ms. McVay Hughes also noted that, with the new panel for climate change that just
came out for New York, it's going to be hotter and more intense rain, so this pump station is really
needed more than ever. Ms. Dawson responded that was reflective of some of the things that have
happened since we started with our projects is that there's been a lot more that we've learned about
these rainfall events, and although we don't know exactly how DEP will operate this, and in what
matter, it will give the opportunity to engage this pump station for those kinds of rainfall events,
separate and apart from a storm surge event.
Mr. Capoccia noted, for the record, if the Board approved this item, the PDB team should
be advised that any additional work on these items that may be dictated by MTA or DEP or Port
Authority is on them. MTA is notorious for coming back after the original design saying you know
what, we're thinking you should add this and that. The only way you can control that is with the
design team. Cappoccia stated that if we were going to approve this item, that would be one of the
caveats.
The Members were requested to authorize an amendment to: (a) authorize the Additional
Phase 1 Services associated with both the permanent pump station and the expanded 60% design
effort; (b) provide for an associated $26,692,689 increase in the Phase 1 Not-to Exceed Amount,
resulting in a total Phase 1 Not-to-Exceed Amount of $108,460,993; and (c) extend the Phase 1
Services schedule to account for the Additional Phase 1 Services associated with both the
permanent pump station and the expanded 60% design effort. The Members’ approval of this
action will be conditioned upon the City of New York’s approval of BPCA’s request to increase
its capital spending authorization for the North/West BPC Resiliency Project as a result of
increased Project costs that include the items that are the subject of the Proposed Amendment.
Upon a motion made by Ms. Gallo and seconded by Ms. McVay Hughes, the following
resolution was unanimously adopted.
APPROVAL TO AMEND AGREEMENT WITH TURNER EE CRUZ A JV FOR
PROGRESSIVE DESIGN-BUILD SERVICES FOR THE NORTH/WEST BPC
RESILIENCY PROJECT
BE IT RESOLVED, that in accordance with the materials submitted at this Board meeting, and
upon approval of the City of New York of the Battery Park City Authority’s request to increase its
capital spending authorization in connection with the North/West BPC Resiliency Project, the
President & Chief Executive Officer (“CEO”) of the Battery Park City Authority or his/her
designee(s) be, and each of them hereby is, authorized and empowered to amend that certain
agreement with Turner EE Cruz a JV for Progressive Design-Build Services for the North/West
BPC Resiliency Project in order to: (a) authorize the Additional Phase 1 Services associated with
both the permanent pump station and the expanded 60% design effort; (b) provide for an associated
$26,692,689 increase in the Phase 1 Not-to Exceed Amount, resulting in a total Phase 1 Not-to-
Exceed Amount of $108,460,993; and (c) extend the Phase 1 Services schedule to account for the
Additional Phase 1 Services associated with both the permanent pump station and the expanded
60% design effort, scheduled to run through January 31, 2026 and be it further
RESOLVED, that the CEO or his/her designee(s), and each of them hereby is, authorized and
empowered to execute and deliver the amendment on behalf of the Authority, subject to such
changes as the officer or officers executing the amendment shall, with the advice of counsel,
approve as necessary and appropriate and in the best interest of the Authority, such approval to be
conclusive evidence by the execution and delivery of the amendment; and be it further
RESOLVED, that the CEO or his/her designee(s) be, and each of them hereby is, authorized and
empowered to execute all such other and further documents, and to take all such other and further
actions as may be necessary, desirable or appropriate, in connection with the transactions
contemplated in the foregoing resolutions, and any such execution of documents and any other and
further actions heretofore taken are hereby ratified, and any actions hereafter taken are confirmed
and approved.
* * *
The next item on the agenda, presented by Ms. Dawson, was the authorization to amend a
contract with the Posillico/Bove Joint Venture (“PBJV”) for the South Battery Park City
Resiliency Project: Wagner Park/Museum of Jewish Heritage Site Work Construction Project and
the authorization to amend a contract with E.W. Howell Co., LLC (“E.W. Howell”) for the South
Battery Park City Resiliency Project: Wagner Park Pavilion Construction Project. Both were for
increases to the Field Order Allowance.
Ms. Dawson began by stating the Authority entered into three separate construction
contracts for the construction of the South Battery Park City Resiliency Project. The first two,
which commenced construction the earliest, were entered into with E.W. Howell in November
2022 for construction of the new Wagner Park Pavilion and with Posillico-Bove Joint Venture in
January 2023 for the construction of the site work at Wagner Park and adjacent the Museum of
Jewish Heritage. Construction of the project began in earnest in early 2023 and is slated for a
substantial completing in the spring of 2025.
Both the Posillico-Bove and E.W. Howell contracts included field change order allowances
($3 million in the case of the Posillico-Bove contract and $2 million in the case of the E.W. Howell
contract) to cover potential change orders or work orders up to the value of the allowance without
the need to obtain additional Board approval as would typically be required for any changes that
individually or cumulatively exceeded $500,000.00. The change orders would of course still be
subject to the rigorous internal review and approval process applicable to all contract changes.
Project contingencies at 10% for construction, 5% for design, and 3% for owner contingency are
available to cover the cost of project change orders. It was anticipated that once the contracts field
change allowances were nearing depletion, or projected to be depleted, the real property
department would return to the Board for approval of any increase in the field change allowances
projected to be necessary.
The Posillico-Bove contract original field change order allowance was $3 million. At this
point in the project, approved and proposed work orders for the contract totaled $3,687,635.00
including some proposals that have not yet been negotiated or approved, with the potential for
additional work order submittals prior to project completion according to the project's construction
manager, LiRo. As a result, the real property department requests that the Board approve an
increase in the Posillico-Bove contract of $3 million from $74,653,200.00 to $77,653,200.00.
The E.W. Howell contract original field change order allowance was $2 million. At this
point in the project, approved and proposed change orders are still slightly less than $2 million,
but Ms. Dawson advised that there's likely going to be more that will cause us to exceed the value
of the current allowance. As a result, the request was to increase the field change allowance for the
E.W. Howell contract by $1.5 million from $2 million to $3.5 million, which would result in an
increase to the contract value of the same $1.5 million increasing it from $68,813,459.00 to
$70,313,459.00.
Mr. Cappoccia stated that the Board’s approval would be contingent upon the contractor
not charging us any additional amount for the change in concrete color.
Ms. Dawson wanted to recognize Angela, the Assistant Vice President of Construction,
since she has been so heavily involved in this.
Upon a motion made by Mr. Bevilacqua and seconded by Ms. Gallo, the following
resolution was unanimously adopted.
AUTHORIZATION TO AMEND THE AGREEMENT WITH POSILLICO/BOVE JOINT
VENTURE (“PBJV”) FOR THE SOUTH BATTERY PARK CITY RESILIENCY
PROJECT: WAGNER PARK / MUSEUM OF JEWISH HERITAGE SITE WORK
CONSTRUCTION (THE “PROJECT”)
BE IT RESOLVED, that in accordance with the materials submitted at this Board meeting, the
President and Chief Executive Officer (the “President”) of the Battery Park City Authority (the
“Authority”) or his/her designee(s) be, and each of them hereby is, authorized and empowered to
amend the PBJV Contract – to a) increase the Contract’s Field Order Allowance current value by
a not-to-exceed amount of $3,000,000, from the not-to-exceed amount of $3,000,000.00 to the not-
to-exceed amount of $6,000,000; and, b) increase the total value of the Contract from $74,653,200
to $77,653,200, in order to cover future approved Work Orders; and, be it further
RESOLVED, that the President or his/her designee(s), and each of them hereby is, authorized and
empowered to execute and deliver the amendment on behalf of the Authority, subject to such
changes as the officer or officers executing the amendment shall, with the advice of counsel,
approve as necessary and appropriate and in the best interest of the Authority, such approval to be
conclusive evidence by the execution and delivery of the amendment; and be it further
RESOLVED, that the President or his/her designee(s) be, and each of them hereby is, authorized
and empowered to execute all such other and further documents, and to take all such other and
further actions as may be necessary, desirable or appropriate, in connection with the transactions
contemplated in the foregoing resolutions, and any such execution of documents and any other and
further actions heretofore taken are hereby ratified, and any actions hereafter taken are confirmed
and approved.
EXHIBIT A
LIST OF APPROVED AND PROPOSED
PBJV WORK ORDERS
Work
Order
List
Amount
Status
Description
1
$0
Approved
Addition of MJH to PBJV's insurance policy
2
$160,658
Approved
Required additional tree removals
4
$113,051
Approved
Enhanced internal vibration monitoring program
(baseline period)
5
$23,939
Approved
Required additional tree irrigation
6
$75,820
Approved
Additional security guard
7
$17,364
Approved
Required additional soil permeability testing
3
$331,660
Proposed
Required relocation of Con Edison gas utility
8
$25,000
Proposed
Additional tree installations
9
$50,000
Proposed
Regulatory changes (NYC Department of
Environmental Protection)
10
$25,000
Proposed
Changes to agency requirements (NY State Historic
Preservation Office)
11
$32,252
Proposed
Stop work directive for sheet pile installation
12
$47,604
Proposed
Modification to sheet pile installation procedure
13
$26,967
Proposed
Additional MJH waterproofing
14
$8,320
Proposed
Relieving platform joint repair
15
$500,000
Proposed
Enhanced internal vibration monitoring program
(construction period)
16
$350,000
Proposed
Replacement of deteriorated sea railing
17
$1,200,000
Proposed
Partial floodwall re-design
18
$1,500,000
Proposed
Reconfiguration and expansion of Wagner Park Lawn
19
$400,000
Proposed
Replacement of MJH security camera system
20
-$1,200,000
Proposed
Credit for removal of on-site waterfront operations
AUTHORIZATION TO AMEND THE AGREEMENT WITH E.W. HOWELL CO., LLC
(“E.W. HOWELL”) FOR THE SOUTH BATTERY PARK CITY RESILIENCY
PROJECT: WAGNER PARK PAVILION CONSTRUCTION (THE “PROJECT”)
BE IT RESOLVED, that in accordance with the materials submitted at this Board meeting, the
President, and Chief Executive Officer (the “President”) of the Battery Park City Authority (the
“Authority”) or his/her designee(s) be, and each of them hereby is, authorized and empowered to
amend the E.W. Howell Contract to a) increase the Contract’s Field Order Allowance current value
by a not-to-exceed amount of $1,500,000, from the not-to-exceed amount of $2,000,000.00 to the
not-to-exceed amount of $3,500,000 to cover future approved Work Orders; and b) increase the
total value of the Contract from $68,813,459 to $70,313,459; and, be it further
RESOLVED, that the President or his/her designee(s), and each of them hereby is, authorized and
empowered to execute and deliver the amendment on behalf of the Authority, subject to such
changes as the officer or officers executing the amendment shall, with the advice of counsel,
approve as necessary and appropriate and in the best interest of the Authority, such approval to be
conclusive evidence by the execution and delivery of the amendment; and be it further
RESOLVED, that the President or his/her designee(s) be, and each of them hereby is, authorized
and empowered to execute all such other and further documents, and to take all such other and
further actions as may be necessary, desirable or appropriate, in connection with the transactions
contemplated in the foregoing resolutions, and any such execution of documents and any other and
further actions heretofore taken are hereby ratified, and any actions hereafter taken are confirmed
and approved.
EXHIBIT A
LIST OF APPROVED AND PROPOSED
PBJV WORK ORDERS
Work Order
List
Amount
Status
1
$25,841.14
Approved
2
$39,678.26
Approved
3
$58,924.04
Approved
4
$10,445.96
Approved
5
$11,487.40
Approved
6
$10,989.21
Approved
7
$45,743.44
Approved
8
$683,807.00
Pending
9
$295,977.00
Pending
10
$9,931.00
Pending
11
$275,407.69
Pending
12
$115,585.16
Pending
13
$10,253.04
Pending
14
$0.00
Pending
15
$70,000.00
Pending
16
$10,000.00
Pending
17
$25,000.00
Pending
18
$15,126.48
Pending
19
$30,000.00
Pending
* * *
The next item on the agenda, presented by Ms. Dawson, was the approval of the panel of
Pre-Qualified General Contractors (“Pre-Qualified GCs”).
Ms. Dawson stated that the last approval for a general contractor panel occurred in 2019
for what is our current general contractor panel. That panel was approved and the authorization for
that panel was extended by the Board last March through January 29, 2024. A new RFP for a new
panel of prequalified general contractors was issued and in November proposals were received
from five firms that ultimately were considered to be qualified to serve on the prequalified panel.
They were rated according to prescribed criteria. One of them is a WBE, one is a SDVOB, and
one is an MBE. As a result, the Board was asked to approve the new prequalified general contractor
panel that would include Debra Bradley Construction, D'Onofrio General Contractors Corp.,
Greenway USA, LLC, SLS Co. LP, and Triton Elite Joint. In addition, the Members were asked
to approve the current general contractor panel, which includes Debra Bradley, D'Onofrio,
Greenway, and Stalco Construction, be extended through September of 2024 in order to cover any
gap between those contracts and the institution of new contracts and to allow for completion of
work that's already been assigned or started.
Mr. Capoccia asked how much these on-call contractors are approved for without
competitively bidding. Ms. Dawson explained that generally we ask for a bid on pretty much
everything, unless it's something that's an emergency that we have to do quickly, or if it's a super
small item we will generally ask for more than one bid on each of those so that we can evaluate
them. And we have criteria in the prequalified policy as to the pricing, the qualifications, how
much work has been assigned to them and their staffing and schedule and things like that. Ms.
Dawson also clarified that the Board approves the amount that can be expended on the prequalified
panel each fiscal year during its budget approval.
Upon a motion made by Ms. Gallo and seconded by Mr. Petracca, the following resolution
was unanimously adopted:
APPROVAL OF PRE-QUALIFIED GENERAL CONTRACTORS PANEL
BE IT RESOLVED, that in accordance with the materials submitted at this Board meeting, the
President and Chief Executive Officer (the “President”) of the Battery Park City Authority (the
“Authority”) or his/her designee(s) be, and each of them hereby is, authorized and empowered to
approve the following list of Pre-Qualified General Contractors, for a period of three (3) years –
with the option on the part of the Authority to authorize up to two (2) one (1)-year extensions –
during which time the Authority will enter into General Contractor Job Order Contracts with, and
assign work to, the following Pre-Qualified General Contractors on an as-needed basis, in
accordance with the requirements of the Authority's Pre-Qualified Vendor Policy:
Deborah Bradley Construction & Management Services, Inc. (“DBC”);
D’Onofrio General Contractors Corp. (“DGCC”);
Greenway USA, LLC (“Greenway”);
SLSCO LP; and,
Triton - Elite Joint Venture; and be it further
RESOLVED, that the prior approval of the existing panel of Pre-Qualified General Contractors
named below is extended by eight (8) additional months, through September 29, 2024 – during
which time such existing panel may perform and complete job order work in accordance with the
requirements of the Pre-Qualified Vendor Policy:
DBC;
DGCC;
Greenway; and,
Stalco Construction, Inc.; and be it further
RESOLVED, that the President or his/her designee(s), and each of them hereby is, authorized and
empowered to execute and deliver the Contract on behalf of the Authority, subject to such changes
as the officer or officers executing the Contract shall, with the advice of counsel, approve as
necessary and appropriate and in the best interest of the Authority, such approval to be conclusive
evidence by the execution and delivery of the Contract; and be it further
RESOLVED, that the President or his/her designee(s) be, and each of them hereby is, authorized
and empowered to execute all such other and further documents, and to take all such other and
further actions as may be necessary, desirable or appropriate, in connection with the transactions
contemplated in the foregoing resolutions, and any such execution of documents and any other and
further actions heretofore taken are hereby ratified, and any actions hereafter taken are confirmed
and approved.
* * *
There being no further business, upon a motion made by Mr. Petracca and seconded by
Ms. McVay Hughes, the Members unanimously voted to adjourn the meeting. The meeting
thereupon adjourned at 3:32 p.m.
Respectfully submitted,
Lauren Murtha
Assistant Corporate Secretary
Public Comment
November 29, 2023
Pat Smith: Thank you, Eric. Happy New Year everyone. On behalf of the more than 5,000
homeowners in Battery Park City, the Battery Park City Homeowner's Coalition welcomes Raju
Mann to our community. We congratulate him on his appointment as President of the Battery Park
City Authority, and we look forward to working with him. We thank and commend him for his
willingness to meet with us, and for his expressed openness to work with us to improve the quality
of life for homeowners in Battery Park City, the most highly taxed homeowners in New York. We
already have discussed with President Mann important issues such as security after a young
homeless man was found dead on a park bench after sitting there for at least 16 hours. Sixteen
hours. We also have discussed the plight of condo buildings, which face substantial fines if they
are unable to meet the energy efficiency goals set by New York City, and of course we have
discussed the fundamental issue of crippling ground rents. President Mann faces many challenges,
but we are confident we can work together to address them. Thank you.
INVESTMENT GUIDELINES & REPORT
FISCAL YEAR ENDED
OCTOBER 31, 2023
January 2024
TABLE OF CONTENTS
1. OVERVIEW OF INVESTMENT GUIDELINES .................................................................................... 1
1.1. Definitions ....................................................................................................................................... 1
1.2. Purpose and Scope ........................................................................................................................... 1
1.3 Compliance ....................................................................................................................................... 1
1.4. Roles and Responsibilities ............................................................................................................... 1
1.5. Standard of Prudence ....................................................................................................................... 2
1.6. Conflict of Interest ........................................................................................................................... 2
1.7. Review, Amendments, Updates and Revisions ............................................................................... 2
1.8 Diversity –MBE/WBE Participation ................................................................................................ 3
1.9 Oversight – Investment Committee .................................................................................................. 3
2. INVESTMENT MANAGEMENT OBJECTIVES ................................................................................... 4
2.1. Investment Objectives ..................................................................................................................... 4
2.2. Authorized Investment Securities .................................................................................................... 5
2.3. Authorized Investments of Project Operating Funds – Additional Bond Issuers ............................ 8
2.4. Portfolio Diversification .................................................................................................................. 8
2.5. Investment Maturity ........................................................................................................................ 9
3. OPERATING PARAMETERS & CONTROLS .................................................................................... 10
3.1. Authorized Officers and Employees.............................................................................................. 10
3.2. Competitive Selection ................................................................................................................... 10
3.3. Compliance Audit .......................................................................................................................... 10
3.4. Written Contracts and Confirmations ............................................................................................ 11
3.5. Safekeeping and Custody .............................................................................................................. 11
3.6. Internal Controls ............................................................................................................................ 11
3.7. Notification Concerning Violations of Investment Guidelines ..................................................... 11
4. QUALIFIED FINANCIAL INSTITUTIONS ........................................................................................ 12
4.1. Qualifications for Brokers, Dealers and Agents ............................................................................ 12
4.2. Qualifications for Investment Advisors/Managers ........................................................................ 12
4.3. Qualifications for Custodial Banks ............................................................................................... 12
4.4. Ongoing Disclosure ....................................................................................................................... 12
4.5. Affirmative Action ........................................................................................................................ 13
5. REPORTING .......................................................................................................................................... 13
5.1. Management Reporting ................................................................................................................. 13
5.2. Performance Reporting .................................................................................................................. 14
APPENDIX A: OPERATING CONTROLS
APPENDIX B: INVESTMENT REPORT, FISCAL YEAR ENDED OCTOBER 31, 2023
APPENDIX C: BPCA FISCAL YEAR 2023 – A YEAR IN REVIEW
APPENDIX D: REVIEW OF INVESTMENT PERFORMANCE, QUARTER ENDED OCTOBER
31, 2023
1
1. OVERVIEW OF INVESTMENT GUIDELINES
1.1. Definitions
“Authority” means the Battery Park City Authority, a corporate municipal instrumentality of the State of
New York, established pursuant to the Act.
“Act” shall mean the Battery Park City Authority Act, Title 12 of Article 8 of the Public Authorities Law,
constituting Chapter 43-a of the Consolidated Laws of the State of New York, as added by Chapter 343 of
the Laws of 1968, as amended.
“Board” means the Members of the Battery Park City Authority Board of Directors.
“Investment Funds” means monies and financial resources available for investment by the Authority.
“Investment Securities” means any or all investment obligations.
“Rating Agencies” means Standard & Poor’s Corporation, Moody’s Investor Service, and Fitch Ratings.
“State” means the State of New York.
1.2. Purpose and Scope
The purpose of these guidelines (“Guidelines” or “Investment Guidelines”) is to establish the parameters,
responsibilities, and controls for the investment and management of Investment Funds. These Guidelines
have been adopted by, and can be changed only by, the Board.
These Guidelines will govern the investment and reinvestment of Investment Funds and the sale and
liquidation of Investment Securities, as well as the monitoring, maintenance, accounting, reporting, and
internal controls by and of the Authority with respect to such investment and reinvestment of Investment
Funds and sale and liquidation of Investment Securities.
The guidance set forth herein is to be strictly followed by all those responsible for any aspect of the
management or administration of Investment Funds.
1.3 Compliance
Section 2925 (6) of the State Public Authorities Law requires the Authority to annually prepare and approve
an investment report which describes the Authority’s Investment Guidelines and any amendments to the
Guidelines, investment policies and procedures, the results of the annual independent audit, the Authority’s
investment income and a list of the fees associated with those investments, as well as commissions or other
charges paid to each investment banker, broker, agent, dealer and advisor. Such report is attached hereto as
Appendix B: Investment Report FYE October 31, 2023.
1.4. Roles and Responsibilities
It shall be the responsibility of the Chief Financial Officer to ensure that all investments and investment
practices meet or exceed all statutes and guidelines governing the investment of public funds in New York
and the guidelines established by the State Comptroller’s Office and the Governmental Accounting
Standards Board (GASB). The Deputy Treasurer, acting on behalf of the Board as custodian of the
Investment Policy, is responsible for ensuring that all aspects of the investment management program are
2
executed in a manner consistent with the Guidelines. A description of operating controls is attached as
Appendix A to these Guidelines.
An investment committee (“Investment Committee”) will be appointed by the Board to develop and execute
investment strategy for the Authority’s Investment Funds. If the Board is not fully constituted, the entire
Board may meet in lieu of the Investment Committee. The Investment Committee may consult with a
qualified investment advisor/manager while fulfilling its responsibilities.
The Authority’s external auditor will conduct an annual audit of the investment management activity to
ensure compliance with the Investment Guidelines by Treasury and the external investment manager, if
any. The findings of the audit shall be formally documented and submitted annually to the Chief Financial
Officer and the Board.
1.5. Standard of Prudence
The standard of prudence to be applied to the investment of the Authority’s Investment Funds shall be the
“Prudent Person Rule” that states:
“Investments shall be made with the judgment and care, under circumstances then prevailing, which
persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for
speculation, but for investment, considering the probable safety of their capital as well as the probable
income to be derived.”
Authorized Authority officials and employees involved in the investment process who (i) act in accordance
with the laws of the State, these Guidelines, and any other written procedures pertaining to the
administration and management of the Investment Funds, and (ii) exercise the proper due diligence, shall
be relieved of personal responsibility for an individual security’s credit risk or market price changes,
provided that any negative deviations are reported in a timely fashion to the Chief Financial Officer or
another authorized official and that reasonable and prudent action is taken to control and prevent any further
adverse developments.
1.6. Conflict of Interest
Authority Officers and employees involved in the investment process (“Investment Officials”) shall refrain
from personal business activity that could conflict with the proper execution and management of the
investment program, or that could impair their ability to make impartial decisions. Investment Officials
shall not:
1. accept any money, loan, gift, favor, service, or business or professional opportunity that could
influence them in the performance of their official duties;
2. accept any business or professional opportunity when they know there is a reasonable
likelihood that the opportunity is being afforded to influence them in the performance of their
official duties;
3. enter any personal investment transactions with the same individual with whom business is
conducted on behalf of the Authority; or,
4. disclose or use confidential information that is not generally available to the public for their
own or another person’s financial benefit.
1.7. Review, Amendments, Updates and Revisions
The Deputy Treasurer and the Chief Financial Officer will review the Guidelines on an annual basis, or as
3
required, to ensure continued effectiveness of the Investment Guidelines. The Guidelines shall be submitted
to the Board annually for review and approval. Modifications to the Investment Guidelines may be required
as business needs and requirements change. Any amendments must be reviewed and approved by the Chief
Financial Officer and submitted to the Board for final approval. After any modifications to the Investment
Guidelines, revised Guidelines must be distributed to Authority personnel on the approved distribution list
as well as any external investment advisor/manager and financial institutions.
1.8 Diversity – MBE/WBE Participation
It is the Authority’s standard practice to reach out to MBE/WBE brokers/dealers to provide them
opportunities to trade for Investment Securities. The Authority required that thirty percentage (30%) of
annual costs under the 2020 investment advisory services agreement be allocated to a certified MBE/WBE
firm.
1.9 Oversight – Investment Committee
An Investment Committee was established to formalize oversight of the Authority’s investment portfolio
with the charter below. If the Board is not fully constituted, the entire Board may meet in lieu of the
Investment Committee.
BATTERY PARK CITY AUTHORITY
INVESTMENT COMMITTEE CHARTER
PURPOSE & FORMATION
Pursuant to Article IV, Section 3 of the Authority’s bylaws (the “Bylaws”), the purpose of the Investment
Committee is to assist the Board in fulfilling its oversight responsibilities by establishing the Authority’s
investment policies and overseeing its investments.
COMPOSITION
Pursuant to Article IV, Section 3 of the Bylaws, the Investment Committee shall consist of at least three (3)
members who shall be appointed by the Chairperson of the Board of Directors (“Board Chair”), one of
whom shall be appointed as Chairperson of the committee (“Investment Committee Chair”). The Board
Chair shall be an additional non-voting member of the Investment Committee, provided that if there shall
be any vacancy or vacancies in the whole number of the Members as prescribed by law, the Chair may
serve as a voting member of the Investment Committee. Each member of the Investment Committee shall
be an “independent member,” as defined in Public Authorities Law § 2825(2). Members of the Investment
Committee shall possess the necessary skills to understand the duties and functions of the Investment
Committee and shall be familiar with general investment policies and best practices.
DUTIES OF THE INVESTMENT COMMITTEE
The Investment Committee’s duties and responsibilities are set forth in the Bylaws. Whenever the
Investment Committee acts, it exercises its independent judgment on an informed basis that the action is in
the best interests of BPCA. In doing so, the Investment Committee may rely to a significant extent on
information and advice provided by management and independent advisors.
The Investment Committee has the authority, including but not limited, to:
• Approve the investment and risk limits for the investment portfolio.
4
• Review the investment policies for the Authority, including, where applicable, asset classes,
liquidity, the use of debt, and risk management.
• Approve the annual investment program.
• Authorize investments and ratify investments made by delegated authorities.
• Review the investment performance of BPCA’s accounts and funds, including benchmarks and
attribution.
• Review the organization and staffing of the investment management advisory function.
• Review the quality of the investment services provided to the Authority, such as: a) overseeing the
business and investment strategy, b) evaluating investment performance benchmarks and
attribution, and c) reviewing costs, pricing, and profitability.
MEETINGS
The Investment Committee shall meet four (4) times a year or more frequently, as may be necessary and
appropriate to carry out its responsibilities. The Investment Committee may ask members of management
or others to attend the meetings and provide pertinent information as appropriate. Meetings may be in
person or by video conference, if necessary.
In addition, the Investment Committee:
• Shall act only on the affirmative vote of a majority of the members present at a meeting.
• Is expected to maintain free and open communication with management and the Board.
• Shall have authority to retain independent legal, accounting, or other advisors if determined
appropriate, in its sole judgment, provided such consultants are approved by the full Board.
• Submit the minutes of all Investment Committee meetings to the Board and regularly report to the
Board on Investment Committee matters, actions taken and issues discussed at its meetings.
• Review and reassess the adequacy of this Charter annually and propose to the Board any changes.
• The Investment Committee shall evaluate its performance annually and report its conclusions to
the Board.
2. INVESTMENT MANAGEMENT OBJECTIVES
2.1. Investment Objectives
The Authority’s Investment Funds shall be managed to accomplish the following hierarchy of objectives:
1. Legality – The Authority shall comply with all investment guidelines required for public
authorities in the State with regards to general investment practices and the management of public
funds.
2. Safety – Next to legality, safety of principal is the foremost objective of the investment program.
Investments of the Authority shall be undertaken in a manner that seeks to ensure the preservation
5
of capital in the overall portfolio.
3. Liquidity – The portfolio shall be managed in such a manner that assures that funds are available
as needed to meet those immediate and/or future operating requirements of the Authority, including
but not limited to payroll, accounts payable, capital projects, debt service and any other payments.
4. Return – The Authority’s portfolio shall be managed in such a fashion as to maximize the return
on all investments (up to the “arbitrage allowance” in bond funds) within the context and
parameters set forth by the investment objectives stated above.
2.2. Authorized Investment Securities
The investment of Authority funds is limited by the law creating the Authority to “obligations of the State
or of the United States of America or obligations the principal of and interest on which are guaranteed by
the State or the United States of America” or any other obligations in which the Comptroller of the State of
New York (the “Comptroller”) is authorized to invest pursuant to Section 98 (Investment of state funds) of
the State Finance Law. As effective on November 20, 2015, the Act allows any monies of the Authority,
including the proceeds of bonds or notes, not required for immediate use, at the discretion of the Authority
to be invested in obligations of the State, the U.S. Government and its agencies, or in any other obligations
in which the Comptroller is authorized to invest pursuant to Section 98 of the State Finance Law. The 2003
General Bond Resolution and the 2009 and 2013 Revenue Bond Resolutions allow all investments
alternatives included in the Act, as follows:
1. Bonds and notes of the United States.
2. Bonds and notes of this State.
2-a. General obligation bonds and notes of any state other than this State, provided that such
bonds and notes receive the highest rating of at least one independent rating agency designated by
the Comptroller.
3. Obligations for the payment of which the faith and credit of the United States or of this State are
pledged.
3-a. Notes, bonds, debentures, mortgages and other evidences of indebtedness of the United
States Postal Service; the federal national mortgage association; federal home loan mortgage
corporation; student loan marketing association; federal farm credit system or any other United
States government sponsored agency, provided that at the time of the investment such agency or
its obligations are rated and the agency receives, or its obligations receive, the highest rating of all
independent rating agencies that rate such agency or its obligations, provided, however, that no
more than five hundred million dollars may be invested in the obligations of any one agency.
4. Judgments or awards of the court of claims of this State.
5. Stocks, bonds, or notes of any county, town, city, village, fire district or school district of this State
issued pursuant to law.
6. Mortgage bonds or any obligations for the payment of money, no matter how designated, secured
by another instrument representing a lien on specific real property or a leasehold thereof, heretofore
or hereafter and at the time of the assignment thereof to the Comptroller insured by the federal
housing administrator or any of his successors in office and guaranteed by the United States under
6
the provisions of the national housing act, as amended or supplemented. Any such mortgage bonds
or obligations as aforesaid in which the Comptroller has invested or shall have invested pursuant
to this subdivision shall be serviced by the Comptroller or in his discretion, by mortgagees, as such
are defined by the national housing act, as amended or supplemented, duly appointed by him and
subject to the inspection and supervision of some governmental agency. The Comptroller may
receive and hold such debentures and certificates or other obligations as are issued in payment of
such insurance or guarantee.
7. Bonds and notes of the Savings and Loan Bank of the State of New York.
8. Bonds or notes of any housing authority of this State duly issued pursuant to law.
9. Bonds or notes of any regulating district of this State duly issued pursuant to law.
10. Bonds or notes of any drainage improvement district of this State duly issued pursuant to law.
11. Bonds or notes of the authorities or commissions set forth below when issued pursuant to law:
a. Port of New York Authority.
b. Niagara Frontier Authority.
c. Triborough bridge and tunnel authority.
d. Thousand Islands Bridge Authority.
e. New York State Bridge Authority.
f. New York City Tunnel Authority.
g. Lake Champlain Bridge Commission.
h. Lower Hudson Regional Market Authority.
i. Albany Regional Market Authority.
j. Repealed.
k. American Museum of Natural History Planetarium Authority.
l. Industrial Exhibit Authority.
m. Buffalo Sewer Authority.
n. Whiteface Mountain Authority. (see footnote 2, Repealed)
o. Pelham-Portchester Parkway Authority.
p. Jones Beach State Parkway Authority.
q. Bethpage Park Authority.
r. Dormitory Authority.
s. Central New York Regional Market Authority.
t. Erie County Water Authority.
u. Suffolk County Water Authority.
v. New York State Thruway Authority.
w. Genesee Valley Regional Market Authority.
x. Onondaga county water authority.
y. Power Authority of the state of New York.
z. Ogdensburg Bridge and Port Authority.
aa. East Hudson Parkway Authority.
bb. Niagara Frontier Port Authority.
cc. Northwestern New York Water Authority.
dd. Metropolitan Commuter Transportation Authority (now Metro. Transp. Auth.).
ee. Niagara Frontier Transportation Authority.
ff. New York State Pure Waters Authority.
gg. Rochester-Genesee Regional Transportation Authority.
7
hh. Capital District Transportation Authority.
ii. Central New York Regional Transportation Authority.
12. Obligations of the International Bank for Reconstruction and Development duly issued pursuant to
law.
13. Obligations of the Inter-American Development Bank duly issued pursuant to law.
13-a. Obligations of the Asian Development Bank duly issued pursuant to law.
13-b. Obligations of the African Development Bank duly issued pursuant to law.
13-c. Obligations of the International Finance Corporation duly issued pursuant to law.
14. Collateral trust notes issued by a trust company, all the capital stock of which is owned by not less
than twenty savings banks of the State of New York.
15. Bonds and notes issued for any of the corporate purposes of the New York State housing finance
agency.
16. Bonds and notes issued for any of the corporate purposes of the New York State medical care
facilities finance agency.
17. Bonds and notes issued for any of the corporate purposes of the New York State project finance
agency.
18. Bonds and notes issued for any of the corporate purposes of the municipal assistance corporation
for New York City.
19. Obligations of any corporation organized under the laws of any state in the United States maturing
within two hundred seventy days provided that such obligations receive the highest rating of two
independent rating services designated by the Comptroller and that the issuer of such obligations
has maintained such ratings on similar obligations during the preceding six months provided,
however, that the issuer of such obligations need not have received such rating during the prior six
month period if such issuer has received the highest rating of two independent rating services
designated by the Comptroller and is the successor or wholly owned subsidiary of an issuer that
has maintained such ratings on similar obligations during the preceding six month period or if the
issuer is the product of a merger of two or more issuers, one of which has maintained such ratings
on similar obligations during the preceding six month period, provided, however, that no more than
five hundred million dollars may be invested in such obligations of any one corporation.
20. Bankers’ acceptances maturing within ninety days which are eligible for purchase in the open
market by federal reserve banks and which have been accepted by a bank or trust company, which
is organized under the laws of the United States or of any state thereof and which is a member of
the federal reserve system and whose short-term obligations meet the criteria outlined in
subdivision eighteen of this section. Provided, however, that no more than five hundred million
dollars may be invested in such bankers’ acceptance of any one bank or trust company.
21. No-load money market mutual funds registered under the Securities Act of 1933, as amended, and
operated in accordance with Rule 2a-7 of the Investment Company Act of 1940, as amended,
provided that such funds are limited to investments in obligations issued or guaranteed by the
8
United States of America or in obligations of agencies or instrumentalities of the United States of
America where the payment of principal and interest are guaranteed by the United States of
America (including contracts for the sale and repurchase of any such obligations), and are rated in
the highest rating category by at least one nationally recognized statistical rating organization,
provided, however, that no more than two hundred fifty million dollars may be invested in such
funds.
The State Comptroller, whenever he deems it for the best interest of any of such funds, may dispose of any
of the securities therein or investments therefor, in making other investments authorized by law, and she
may exchange any such securities for those held in any other of such funds, and the Comptroller may take
such action as may be necessary to obtain the benefits of the insurance provided for in the national housing
act, and may draw her warrant upon the treasurer for the amount required for such investments and
exchanges.
Notwithstanding the provisions of any other general or special law, the State Comptroller shall not invest
the moneys of any fund in any security or securities except as above described, provided, however, that: a)
the State Comptroller may, in order to maximize the rate of return on investments, invest the moneys
belonging to the New York interest on lawyer account fund in notes, securities and deposits of banking
institutions which accept IOLA accounts, and b) the provisions of this section shall not limit the types of
investments that may be made with moneys belonging to the volunteer ambulance service award fund
established by section two hundred nineteen-h of the general municipal law.
2.3. Authorized Investments of Project Operating Funds – Additional Bond Issuers
The Authority has two classifications of Funds; Pledged Funds and Project Operating Funds. Pledged
Funds, subject to the 2003 General Bond Resolution, may only be invested in securities specifically listed
in Section 98 of the State Finance Law, as listed in Section 2.2 above. Project Operating Funds, those that
are not pledged to bond holders, are also limited to Section 98 of the State Finance Law but may include
bond issuers of the State whose authorizing statute specifically provides that bodies of the State are
authorized to legally invest in the stated bond issuers’ securities. The additional bond issuers (“Additional
Bond Issuers”), while not specifically listed in Section 98 of the State Finance Law, and therefore are not
eligible for investments of the Pledged Fund, but do qualify for investments of the Project Operating Fund,
are as follows:
1. New York City Transitional Finance Authority.
2. New York Municipal Water Finance Authority.
3. New York City Housing Development Corporation.
4. New York State Urban Development Corporation.
5. Nassau County Interim Finance Authority.
2.4. Portfolio Diversification
The Authority’s Investment Funds shall be structured to diversify investments to reduce the risk of loss
resulting from over-concentration of assets in a specific maturity, a specific issuer, or a specific type of
security. The maximum percentage of the aggregate portfolio of Investment Funds, based on book value at
the time of purchase, permitted in each eligible security is as follows:
US Treasuries ................................... 100%
Federal Agencies .............................. 100% ($250 million max per issuer)
Commercial Paper ............................ Lesser of 5% or $250 million per issuer
Bankers’ Acceptances ...................... Lesser of 5% or $250 million per issuer
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Money Market Funds ....................... Lesser of 25% or $250 million
Municipal Bonds .............................. 20%
In addition, the Authority requires:
a) Minimum “A” credit rating for all municipal securities permitted by the Policy (NY State, other
states, and issues of local NY governments).
b) Maximum allocation of no greater than 10% per issuer, or such lower limit as specified above.
2.5. Investment Maturity
Maintenance of adequate liquidity to meet the cash flow needs of the Authority is essential. Accordingly,
the portfolio will be structured in a manner that ensures sufficient cash is available to meet anticipated
liquidity needs. Selection of investment maturities must be consistent with the cash requirements of the
Authority to avoid the forced sale of securities prior to maturity.
Investments shall have a stated maturity or weighted average life of not more than ten (10) years unless
specifically approved by the Investment Committee.
2.6. Environmental, Social, and Governance Investment Principles
The Authority’s investment philosophy is anchored in the following core principle, which is fundamental
and constant. Assets controlled by the Authority must be managed in accordance with this principle,
regardless of the ebbs and flows likely to arise due to markets, politics and personalities.
The primary principle guiding the Authority’s investments is the consideration of financial impact(s) on
current and future requirements of the Authority. This manifests itself through investment practices that
generate the greatest possible return, subject to an appropriate amount of risk, to support the Authority’s
mission of planning and sustaining a balanced community of commercial, residential, retail, and park space
on the lower west side of Manhattan.
Within the context of this primary principle, the Authority must consider a holistic view of risk that accounts
for various factors which could modify a return/risk objective. These include:
• Maintaining appropriate levels of liquidity for the Authority’s operational needs;
• Mitigating downside financial risks;
• Understanding and appropriately managing reputational risk or legal liability; and,
• Protecting Authority assets from external pressures.
The Authority, as well as the Office of the New York State Comptroller, supports the practice of
incorporating environmental, social, and governance (“ESG”) factors with other conventional financial
analytical tools when evaluating investment opportunities as these factors not only support the Authority’s
mission but they may help identify potential opportunities and risks which conventional tools miss. The
Authority encourages its investment managers to include ESG factors in their analytical processes. The
Authority prohibits investment in companies that are heavily reliant on fossil fuels. However, ESG
considerations are only one factor in analyses and should not be used as exclusionary screens to eliminate
specific entities or sectors from consideration. Relevant ESG factors will vary by industry and should be
applied appropriately to help assess both risk and return.
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3. OPERATING PARAMETERS & CONTROLS
3.1. Authorized Officers and Employees
Investment decisions on behalf of the Authority shall be made by the Chief Financial Officer, or by the
Deputy Treasurer or the external investment manager, under the supervision of the Chief Financial Officer.
Investment transactions shall be implemented by the Chief Financial Officer, or by the Deputy Treasurer,
or the professional investment and advisory management firm on the Investment Committee, under the
supervision of the Chief Financial Officer.
3.2. Competitive Selection
For each transaction, a minimum of three quotes shall be obtained and documented from Dealers and/or
Banks, except in the purchase of government securities at their initial auction or upon initial offering, and
the most favorable quote accepted.
3.3. Compliance Audit
An annual independent audit of all investments will be performed by the external auditors. The Authority’s
financial statements with respect to investments, which are required to be prepared in conformance with
generally accepted accounting principles for governments (“GAAP”), shall contain all of the note
disclosures on deposits with financial institutions and investments required by the Governmental
Accounting Standards Board Statements No. 3 “Deposits with Financial Institutions, Investments
(including Repurchase Agreements), and Reverse Repurchase Agreements”, dated April 1986. The Annual
Investment Audit shall:
• Determine whether: the Authority complies with its own investment policies; investment assets are
adequately safeguarded; adequate accounts and records are maintained which accurately reflect all
transactions and report on the disposition of the Authority’s assets; and a system of adequate
internal controls is maintained.
• Determine whether the Authority has complied with applicable laws, regulations and these
Investment Guidelines.
• Be designed to the extent practical to satisfy both the common interest of the Authority and the
public officials accountable to others.
The results of the Annual Investment Audit shall be set forth in a report (the “Annual Investment Audit
Report”) which shall include, without limitation:
• A description of the scope and objectives of the audit;
• A statement that the audit was made in accordance with generally accepted government auditing
standards;
• A statement of negative assurance on items tested;
• A description of any material weakness found in the internal controls;
• A description of any non-compliance with the Authority’s own investment policies as well as
applicable laws;
• Regulations and the Comptroller’s Investment Guidelines;
• A statement on any other material deficiency or reportable condition as defined by Governmental
Auditing Standards identified during the audit not covered above; and
• Recommendations, if any, with respect to amendment of these Guidelines.
Investment practices and controls will be subject to review and testing by internal auditors on a surprise
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basis at the discretion of the VP of Administration (who is also the Internal Controls Officer), President,
CEO and/or the Board.
3.4. Written Contracts and Confirmations
A written confirmation shall be required for each investment transaction. However, the Authority shall not
be required to enter a formal written contract provided that the Authority’s oral instructions to its broker,
dealer, agent, investment manager/advisor, or custodian with respect to such transactions are confirmed in
writing at the earliest practicable moment.
3.5. Safekeeping and Custody
All investment securities purchased by the Authority or held as collateral on deposits or investments shall
be held by a third-party custodian who may not otherwise be a counterparty to the investment transaction.
All securities shall be held in the name of the Authority and will be free and clear of any lien.
All investment transactions will be conducted on a delivery-vs.-payment basis. Payment for investments
shall be made only upon receipt by the custodian of the physical security, or in the case of securities in
book-entry form, when credited for the custodian’s account, which shall be segregated for the Authority’s
sole use. The custodian shall issue a safekeeping receipt to the Authority listing the specific instrument,
rate, maturity, and other pertinent information. On a monthly basis, the custodian will also provide reports
that list all securities held for the Authority, the book value of holdings and the market value as of month-
end.
The custodian may act on oral instructions from the CFO, Deputy Treasurer or investment advisor under
the direction of the CFO. Such instructions are to be confirmed in writing immediately by an authorized
signatory of the Authority.
Representatives of the custodian responsible for, or in any manner involved with, the safekeeping and
custody process of the Authority shall be bonded in such a fashion as to protect the Authority from losses
from malfeasance and misfeasance. If required by the Chief Financial Officer, appropriate Authority
Officials may also be bonded in such a fashion.
3.6. Internal Controls
An operating procedures manual were developed to control all Authority investment activity. The manual
is consistent with these Guidelines, shall be approved by the Chief Financial Officer, and shall include the
following:
• the establishment and maintenance of a system of internal controls;
• methods for adding, changing or deleting information contained in the investment record, including
a description of the document to be created and verification tests to be conducted;
• a data base or record incorporating descriptions and amounts of investments, transaction dates,
interest rates, maturities, bond ratings, market prices and related information necessary to manage
the portfolio; and,
• requirements for periodic reporting and a satisfactory level of accountability.
3.7. Notification Concerning Violations of Investment Guidelines
If these Investment Guidelines are violated, the Chief Financial Officer shall be informed immediately and
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advised of any corrective action that should be taken, as well as the implication of such action.
4. QUALIFIED FINANCIAL INSTITUTIONS
4.1. Qualifications for Brokers, Dealers and Agents
The Authority’s investment manager’s Director of Treasury Operations and/or the Authority’s Investment
Manager shall maintain a list of broker/dealers that are approved for investment purposes (“Qualified
Institutions”). Only firms meeting the following requirements will be eligible to serve as Qualified
Institutions:
• “primary” dealers and regional dealers that qualify under Securities and Exchange Commission
Rule 15C3-1 (uniform net capital rule);
• registered as a dealer under the Securities Exchange Act of 1934;
• member in good standing of the Financial Industry Regulatory Authority (FINRA);
• registered to sell securities in the State; and,
• the firm and assigned broker have been engaged in the business of effecting transactions in U.S.
Government and agency obligations for at least five (5) consecutive years.
When selecting trading partners, the Authority will also consider the firm’s quality, size, and reliability, the
Authority’s prior experience with the firm, the firm’s level of expertise and prior experience with respect
to the contemplated transactions.
4.2. Qualifications for Investment Advisors/Managers
For rendering investment management/advisory services to the Authority, the Authority may qualify any
bank or trust company organized under the laws of any state of the United States of America, any national
banking association, and any partnership, corporation, or person which is:
• Authorized to do business in the State as an investment manager/advisor; and
• Registered with the Securities & Exchange Commission under the Investment Advisor Act of 1940
or exempt from registration.
The Authority shall also consider the firm’s capitalization, quality, size and reliability, the Authority’s prior
experience with the firm, the firm’s level of expertise and prior experience with respect to the contemplated
engagement.
4.3. Qualifications for Custodial Banks
To be eligible to hold Investment Securities purchased by the Authority or collateral securing its
investments, a custodial bank shall be a member of the Federal Reserve Bank or maintain accounts with
member banks to accomplish book-entry transfer of Investment Securities to the credit of the Authority.
The custodian should not be the same party that is selling the Investment Securities. To be eligible to
perform custodial services, the Chief Financial Officer must affirmatively find that the proposed custodial
bank is financially sound. This shall be determined by review of the financial statements and credit ratings
of the proposed custodial bank.
4.4. Ongoing Disclosure
All brokers, dealers and other financial institutions described in sections 4.1, 4.2, and 4.3 shall be provided
with current copies of the Authority’s Investment Guidelines. A current audited financial statement is
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required to be on file for each financial institution and broker/dealer with which the Authority has
investment transactions.
4.5. Affirmative Action
Article 15-A of the Executive Law and 9 NYCRR Part 4.21 regarding affirmative action shall apply with
respect to the Authority’s investment activities. The Authority shall seek to utilize minority and women-
owned financial firms in the conduct of the Authority’s investment activities. Management reporting is
required by the Authority to track compliance with policy guidelines, assess the performance of the
portfolio and to inform appropriate management personnel.
5. REPORTING
5.1. Management Reporting
To manage the Investment Funds effectively and to provide Authority management with useful information,
it is necessary for the Treasury Department to report reliable and timely information regarding the
investment transactions that take place.
A Quarterly Management Report on the investment management program shall be prepared and presented
to the CFO and the Authority’s Board. The Quarterly Management Report shall include:
• An indication of all new investments;
• A portfolio inventory;
• Credit quality of each holding;
• Duration (or average maturity) of each fund;
• Mark-to-market valuations on investments and collateral; and
• A breakdown of the portfolio by counterparty.
An Annual Investment Report shall be submitted to the Authority’s Board and filed with the State Division
of the Budget, State Comptroller, State Senate Finance Committee, and State Assembly Ways and Means
Committee. The Annual Investment Report shall include the following:
• The investment guidelines in compliance with Section 2925(3) of the Public Authorities Law and
any amendments since last reported;
• An explanation of the investment guidelines and amendments;
• The results of the Annual Independent Audit (described in Section 3.3.);
• Investment income record of the Authority; and
• A list of the total fees, commissions or other charges paid to each investment banker, broker, agent,
dealer and manager/advisor rendering investment associated services to the Authority since the date
of the last investment report.
After approval of the report, it will be submitted or posted to the:
• State Division of the Budget,
• State Department of Audit and Control,
• State Comptroller,
• Chairmen and Ranking Minority Members of the Senate Finance Committee and Assembly Ways
and Means Committee.
• State Public Authorities Information Reporting System (PARIS),
• Authority’s website.
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5.2. Performance Reporting
To ensure the effectiveness of the Authority’s investment strategy, it is important to measure the
performance of the portfolio. The performance measurement process can be broken into four categories:
• Investment benchmark – The Authority will continuously measure its performance against a
benchmark having an average maturity comparable to the portfolios.
• Performance measurement – Each quarter the Authority must measure the performance of its
investment portfolio versus its benchmark. By continuously measuring results against this standard
benchmark, the Authority can determine a pattern of over/under performance.
• Identify sources of over/under performance – The Performance Reports distributed to the CFO
must include information on the source of over/under performance.
• Disseminate results – Results shall be distributed to the CFO and the Board in a timely manner.
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APPENDIX A – OPERATING CONTROLS
Distribution of the Investment Guidelines
The guidelines and all subsequent amendments, revisions and updates shall be distributed to Authority
personnel per the approval of the Chief Financial Officer.
During the period in which the Authority retains an investment manager, the investment manager must also
receive the investment guidelines and all amendments, updates, or revisions to insure compliance with the
most current guidelines.
Exhibit –Investment Guidelines Distribution Matrix
Distribution List
Frequency
Board of Directors
As Necessary
Chief Financial Officer (“CFO”)
As Necessary
Controller
As Necessary
Deputy Treasurer
As Necessary
Roles and Responsibilities in Executing the Investment Guidelines
The roles and responsibilities for investment management at the Authority rest primarily with the Finance
Department although other departments have important roles. The matrix below defines the roles and
responsibilities of all parties involved in the execution of the Investment Guidelines.
Exhibit –Policy Roles & Responsibility Matrix
Roles
Responsibility
Frequency
Board of Directors
•
•
Final Approval of the guidelines
Approval of exceptions to the guidelines (e.g. new
investment types)
• Annual
• As necessary
•
Approval of revisions to the guidelines
• As necessary
Chief Financial Officer
•
Approval of the guidelines
• Annual
(“CFO”)
•
Approval of investment strategy
• Annual
•
Approval of performance measurements
• Ongoing
•
Approval of minor exceptions to the guidelines (i.e.
amounts, maturities)
• As necessary
Deputy Treasurer
•
Serve as custodian of the guidelines
• Ongoing
•
Develop investment strategy
• Annual
•
Review investment strategy
• Ongoing
•
Establish performance measurements
• Ongoing
•
Distribution of guidelines and amendments
• As necessary
•
Annual review of guidelines
• Annual
•
Oversight of investment activity
• Ongoing
•
Invest funds as provided for in the guidelines
Review Fund transfers prior to CFO approval
• Ongoing
• Ongoing
•
Keep abreast of developments in the markets
• Ongoing
•
Review performance information
• Monthly
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•
Management reporting
• Daily, Weekly
Monthly
Treasury / Revenue
Accountant
Initiate Fund transfer approvals
Collect performance information, as needed
Distribute performance information, as needed
Ongoing
Quarterly
Quarterly
Senior Accountant
Verify and reconcile of market values and collateral
Maintain records of investments
Monthly
Ongoing
Assistant/
Jr. Accountant
•
Prepare Investment Instruction Letter
Verify Fund transfers
•
Ongoing
Ongoing
Investment Manager
•
Develop investment strategy
•
Annual
•
Review investment strategy
•
Ongoing
•
•
Invest funds as provided for in the guidelines
Reporting investment portfolio
•
•
Ongoing
Daily, Weekly
Quarterly
Segregation of Duties
The Authority requires adequate segregation of duties to prevent possible fraud, operational errors,
misappropriation of funds, unauthorized trades, concealment of trades, and manipulation of accounting
records. Personnel involved in risk monitoring activities should be segregated from risk taking (i.e.
executing transactions).
Exhibit – Segregation of Duties Matrix
Activity to be Performed
Segregation Level
Trade Execution
Individuals who are authorized to execute transactions should not
confirm and settle the trades or conduct account reconciliation
activities.
Trade Confirmation
Individuals who conduct confirmations should not execute transactions.
Settlement – Disbursing and
Receiving Funds
Individuals who handle cash settlement on the trades should not
execute the trades. Cash settlement shall be transacted by any one of
the authorized Authority signatories who did not participate in the
trade execution. Only one signature is required due to the nature of the
transaction, i.e., transfer of assets (including transfers in excess of
$25,000).
Account Reconciliation
Account reconciliation activities must be segregated from trade
execution activities.
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Management Reporting
Exhibit – Summary of Management Reporting
Report
Contents
Audience
Frequency
Management Report
Investment portfolio,
mark-to- market
valuations, collateral,
counterparty breakdown
CFO, Board
Quarterly
Annual Investment Report
Investment Guidelines,
explanation of Investment
Guidelines & amendments,
annual investment audit,
annual investment income,
total fees and commissions
paid
CFO, Board
(File with Division of the
Budget, State Comptroller,
State Finance Committee,
Assembly Ways and Means
Committee)
Annually
Exhibit – Summary of Treasury Performance Reporting
Report
Contents
Audience
Frequency
Performance Report
Investment performance vs.
benchmark variance
analysis
CFO, Board
Quarterly
Operating Procedures
Operating procedures for the administration of the Authority’s investment program should include the
following:
• Each disbursement of funds (and corresponding receipt of Investment Securities) or delivery of
Investment Securities (and corresponding receipt of funds) shall be based upon proper written
authorization. If the authorization is initially given orally, there shall be written or telegraphic
confirmation from an authorized signatory of the Authority to the custodian;
• The process of initiating, reviewing and approving requests to buy and sell Investment Securities
shall be documented and retained for audit purposes. Dealer limits should be established and
reviewed regularly;
• Custodians must have prior authorization from the Authority to deliver obligations and collateral.
All transactions must be confirmed in writing to the Authority. Delivery of obligations sold shall
only be made upon receipt of funds;
• Custodial banks shall be required to report whenever activity has occurred in the Authority’s
custodial account;
• There shall be at least monthly verification and reconciliation of both the principal amount and the
market values of all investments and collateral. Appropriate listings shall be obtained from the
custodian and compared against the Authority’s records;
• A record of investments shall be maintained. The records shall identify the Investment Security,
the fund for which held, the place where kept, date of disposition and amount realized, and the
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market value and custodian of collateral;
• The establishment and maintenance of a system of internal controls;
• Methods for adding, changing or deleting information contained in the investment record, including
a description of the documents to be created and verification tests to be conducted;
• A database of records incorporating descriptions and amounts of investments, transaction
dates, interest rates, maturities, bond ratings, market prices, and related information
necessary to manage the portfolio; and
• Requirements for periodic reporting and a satisfactory level of accountability.
The procedures below describe in more detail the methods employed by the investment officers (Treasurer
and Deputy Treasurer) to formulate and initiate investment transactions and include the records and
documentation used in processing an investment from the time of its initiation to the recording and
reconciliation on the Authority’s accounting records.
1. The Treasurer, Deputy Treasurer or Investment Advisor maintains a schedule of all current
investments and updates schedule on a timely (daily) basis as securities mature and/or new
investments are initiated. A calendar of investment maturities is maintained and updated as
chronological reminder (tickler file) or maturities.
2. All investments are initiated by the Investment Advisor via:
a. specific written investment instruction sent to the Trustee; or
b. verbal investment instructions followed up by written confirmation.
3. The Deputy Treasurer or Investment Advisor will initiate the investments by reviewing the
investment schedule and calendar on a weekly basis to determine investments to be made over the
following week based on Investment Guidelines and weekly working group meetings. All
investments are available to review online on a real time (next day) basis.
The Treasurer, Deputy Treasurer and Investment Advisor considers many factors in forming
investment decisions, such as:
a. existing bond resolution requirements and conditions;
b. other existing agreements affecting investments/cash flow (i.e. Settlement Agreement;
Agreement and Consent dated September 22, 1988, as amended, Agreement for
Certain Payments, Lease Agreements etc.);
c. BPCA cash flow requirements and Investment Guidelines and Policies;
d. current and future market conditions (i.e. interest rates);
e. New York State Comptroller’s Guidelines; and,
f. published market surveys, consultant reports, etc., relating to securities available,
interest rates and investment strategies.
4. Copies of the bank trade confirmation letters sent to the Trustee Bank are digitally filed in the
Treasury folder
5. All investments are available to the President and others for review and discussed at Investment
Committee meetings. A copy of the Investment Instructions Letter is retained in the Treasury folder
and a copy is maintained in the bank reconciliation files
19
Documentation for securities purchased including the information as to brokers solicited for quotes
shall be retained and filed by the Authority, the Trustee, and Investment Advisor. Corporate funds
which are not invested are collateralized or insured by FDIC. Reconciliation of monthly Trustee
statements are performed. This includes reconciliation of investment transactions, investment
income, and portfolio holdings. Corresponding journal entries are subsequently posted to the
Authority’s general ledger. The BPCA Controller or Deputy Controller initials and dates these
reconciliations when reviewed to signify timely approval and completion.
6. Quarterly investment schedules are reviewed by the Investment Committee and made available to
the Board. Investment schedules are audited by the Authority’s public accountants at year end. The
auditors request and receive confirmation of our cash and security holdings as of fiscal year end.
In addition, the Authority’s Internal Audit department periodically audits investments.
The procedures will be subjected to regular audits by internal and external auditors as required.
Procedures are to be revised and updated on an annual basis and referenced in the Investment Policy
and Procedure Statement, approved by the Members, in accordance with Section 2925(6) of the
Public Authorities Law.
20
APPENDIX B
INVESTMENT REPORT – FISCAL YEAR ENDED OCTOBER 31, 2023
Investments
The Authority carries all investments at fair value. Inherent risks that could affect the
Authority’s ability to provide services and meet its obligations as they become due are reported
in accordance with U.S. GAAP. The Authority’s permitted investments include: (i) 100%
U.S. government guaranteed securities (U.S. Treasury notes, bonds, strips, T-bills, Ginnie Mae
securities); (ii) notes, bonds, debentures, and mortgages of U.S. government-sponsored
agencies provided that its obligations receive the highest credit rating at the time of purchase
from all rating agencies that rate the obligation; (iii) obligations of any corporation organized
under the laws of any state in the United States maturing within 270 days provided that such
obligations receive the highest rating of two independent rating services (commercial paper);
(iv) municipal bonds issued by the State of New York, its counties, towns and cities and New
York authorities; and (v) the general obligations of any state provided that such obligations
receive the highest rating by at least one rating agency. The Organization maintains its cash in
bank accounts that are fully collateralized or backed by the Federal Deposit Insurance
Corporation (“FDIC”) or letters of credit. All investments held in funds and accounts
established in accordance with bond resolutions are held as trust assets by the trustee banks in
the Authority’s name.
Total investments held by the Authority at October 31, 2023 and 2022, included within the
statements of net position (deficit) as investments, corporate designated, escrowed and OPEB
funds, bond resolution funds and residential lease required fund accounts, were as follows:
As of October 31, 2023 and 2022, restricted assets included cash and cash equivalents and
investments with less than 91-day maturities amounting to $407,526,855 and $180,404,963,
respectively.
October 31, 2023 October 31, 2022
Weighted Weighted
average average
maturity maturity
Cost Fair value (years) (a) Cost Fair value (years) (a)
U.S. Treasury securities:
Treasury Bills $ 753,889,897 759,220,931 0.10 $ 300,375,565 301,184,894 0.12
Treasury Bonds 103,516,130 98,011,702 1.99 124,547,637 114,449,882 2.47
Treasury Strips — — — 2,478,639 2,427,849 2.46
Total
U.S. Treasury
securities 857,406,027 857,232,633 427,401,841 418,062,625
Commercial paper — — — 33,355,798 33,612,663 0.07
Federal agency securities 1,592,195 1,646,289 0.04 15,305,739 15,353,906 0.04
Federal agency mortgage
backed securities 803,298 741,733 2.84 1,723,463 1,604,461 2.90
Municipal bonds 4,893,417 4,749,918 1.18 5,102,027 4,742,553 2.53
Supra National Agency 9,361,613 8,806,944 1.49 16,705,105 15,490,057 2.14
Total
investments 874,056,550 873,177,517 0.34 499,593,973 488,866,265 0.77
Cash and cash equivalents 25,983,858 25,983,858 44,772,227 44,772,227
Total
investments $ 900,040,408 899,161,375 $ 544,366,200 533,638,492
(a) Portfolio weighted average effective duration
21
The Authority’s investment objectives for the portfolio are legal compliance, safety of
principal, to meet liquidity requirements and to maximize legally allowable return.
Interest rate risk is the probability of loss on investments from future changes in interest rates,
which can adversely affect their fair value. Duration is a measure of a debt investment’s
exposure to fair value changes arising from changes in interest rates. It uses the present value
of cash flows, weighted for those cash flows as a percentage of the investment’s full price.
Effective duration takes into account the change in cash flow expectations of securities with
embedded options such as callable bonds and mortgage-backed securities. The interest rate risk
of the Authority’s portfolio is measured according to effective duration.
Investments of amounts in funds and accounts established under the 2003 General Bond
Resolution, and the 2013, 2019 and 2023 Revenue Bond Resolutions are presently restricted to
obligations of the State, U.S. government and its agencies, or in any other obligations in which
the Comptroller of the State of New York is authorized to invest pursuant to Section 98 of the
State Finance Law.
Corporate-designated and escrowed funds represent funds designated by the Authority’s Board
of Directors for specific purposes such as budget reserves, the Special Fund, Project
contingency reserves, restoration reserves, insurance reserves, and arbitrage reserves and funds
designated for the payment of medical benefits to the Authority’s retirees (OPEB funds).
Residential lease required funds represent funds held by the Authority in accordance with its
residential leases. These funds are largely comprised of residential buildings lease security and
escrow deposits held by the Authority.
.
Fees
There were no fees, commissions or other charges paid to investment bankers, brokers, agents, or dealers
for rendering investment related services to the Authority during the fiscal year and all investments are
competitively bid. Consultant fees in the amount of approximately $350,000 were paid to PFM Asset
Management LLC (“PFMAM” during the current fiscal year for professional money management advice
to the Authority's Investment Committee. PFMAM utilizes a MWBE firm, Ramirez Asset Management, as
a subcontractor to manage a portion of the investment portfolio and they are paid 30% of the contract value
for these services.
22
APPENDIX C
BPCA FY2023: A Year in Review
(Prepared by PFM Asset Management LLC)
Annual Summary
The 2023 fiscal year was marked by declining inflation, aggressive interest rate hikes by the Federal Reserve
(“Fed”), volatility in the financial sector, and a strong labor market. The Federal Reserve Open Market
Committee (“FOMC”) raised the federal funds rate six times between November 1, 2022 and October 31,
2023, including two 50 basis point (0.50%) hikes. In that span, the federal funds rate rose from a range of
3.25% - 3.50% to a range of 5.25% - 5.50%. As a result of the Fed’s continued tightening of monetary policy,
inflation showed signs of easing, as the Consumer Price Index (“CPI”) increased by only 3.2% year-over-
year (YoY) by the end of October. During this time, the labor market continued to remain strong, adding
roughly 2.7 million jobs over the 2023 fiscal year. The steep increase in rates however, made for substantial
volatility in the financial sector in the second fiscal quarter, resulting in the failure of five banks. At the end
of the year, the Fed paused its rate hike cycle and revised its projections to assume higher growth, and higher
inflation for longer.
Summary of Bond Market and Authority Portfolio Strategy
First Quarter: November 1, 2022 – January 31, 2023
Market Summary
The first quarter was characterized by a decline in the unemployment rate, declining inflation, and the Fed’s
continued focus on tightening monetary conditions. The housing market continued to cool in the face of
higher borrowing rates coupled with elevated home prices. Business activity slowed, as both the services and
manufacturing sectors contracted. The Fed remained committed to increasing interest rates, raising them
twice during the quarter for a combined 100 basis point (1.00%) hike. The Fed Funds rate ended the quarter
at a range of 4.25% to 4.50%.
U.S. real gross domestic product (“GDP”) beat expectations, growing at 2.6% in the fourth quarter and 2.1%
for calendar year 2022 – down from the 5.7% growth rate for calendar year 2021. Activity in the final quarter
of 2022 was boosted by inventory investment and consumer spending, accounting for 4.9% of the overall
growth rate. Despite strong growth, pandemic-related supply and demand imbalances caused CPI to reach
6.4% in January. Unemployment matched the pre-pandemic level of 3.5% in December, and continued its
decline through January to 3.4%, the lowest rate since May of 1969. The labor force participation rate rose
slightly to 62.4% from 62.2%. Employment gains were strong as the U.S. economy added 517,000 jobs to
start 2022.
Fixed income yields were mixed for the quarter, as the 3-, and 12-month yields rose, while the 2-, 5-, and
10-, and 30-year yields declined. The yield curve remained steeply inverted at the turn of the new year. In
January alone, the yield on the benchmark 2-year Treasury note declined 23 basis points to 4.20%, while the
yield on the benchmark 10-year Treasury declined 36 basis points to 3.51%, ultimately driven by
expectations for faster Fed rate hikes. Rate changes were more severe on the longer end of the curve, as
inflation continues to decline from 2022 highs. As a result of falling yields during the quarter, U.S. Treasury
returns were largely positive. The 2-year Treasury note declined 29 basis points to 4.20%, while the yield on
the 10-year Treasury declined 54 points to 3.51%.
23
Portfolio Strategy Recap
• As a result of the sharp decline in yields, longer-term portfolio returns were positive for the
quarter. Portfolios underperformed respective benchmarks for the quarter.
• Shorter-term portfolios provided positive returns for the quarter, although underperformed 3-
Month Treasury Bill’s performance of 1.00%.
Second Quarter: February 1, 2023 – April 30, 2023
Market Summary
During the second quarter, interest rates experienced extreme volatility on account of government debt
ceiling discussions stalling and failures in the financial sector. Debt ceiling discussions dominated headlines
as the U.S. hit its debt ceiling of $31.4 trillion in January, resulting in the U.S. Treasury starting to take
extraordinary measures to prevent a default. The 2-year treasury jumped to 5.07% from its January 31
st
close
of 4.21% as a result. However, yields quickly retreated to lower levels following the collapse of Silicon Valley
Bank, the third largest bank failure in U.S. history, on March 10
th
. Signature Bank failed shortly after, officially
closing on March 12
th
. The bank failures, paired with the U.S. debt ceiling crisis, applied further pressure to
an already fragile inflation narrative, complicating the Federal Reserve’s policy decisions. To control lingering
inflation, the Fed raised the Federal Funds target rate by 25 basis points twice during the quarter, bringing
the new target rate to a range of 4.75% to 5.00%. Jerome Powell noted Fed Chair Jerome Powell noted that
events in the banking system might “contribute to significant tightening in credit conditions over time”
implying monetary policy would have less work to do.”
U.S. GDP increased at an annual pace of 2.0% in the first quarter of 2023, slightly lower than the prior
quarter. This was a reflection of increases in consumer spending, government spending, and business fixed
investment. Consumer spending edged up 0.2% in February, with services accounting for 61.8% of that. The
year-over-year change in the consumer price index fell to 4.9% in April, slightly lower than market
expectations. Shelter, the largest component of CPI continued to trend higher. The U.S. labor market
remained quite strong through the quarter, as the economy added 800,000 new jobs. Unemployment ended
the quarter at 3.4%, marking just the second time since 1969 the unemployment rate fell below 3.5%.
U.S. Treasury yields peaked in March, although retreated quickly following the failures of Silicon Valley
Bank and Signature Bank. Yields on the longer end of the curve were impacted by increased volatility in the
financial sector as the 2-, 5-, 10-, and 30-year yields all ended the second quarter lower than the first,
declining 19, 13, 8 and 54 basis points respectively. The 6-month and 1-year yields both increased by 39 and
9 basis points. As a result of volatility in Treasury yields, fixed income indices posted some of the worst
total returns dating back over 40 years. For example, during the fiscal quarter the ICE BofA 1-, and 5-year
U.S. Treasury indices returned 0.52% and -4.51% respectively.
Portfolio Strategy Recap
• Longer-term portfolio returns were positive for the quarter. The conservative duration
positioning contributed to strong relative outperformance for the quarter.
• Shorter-term portfolio posted strong absolute performance, with returns in line with the
benchmark.
Third Quarter: May 1, 2023 – July 31, 2023
Market Summary
24
Many of the significant headwinds from the beginning of 2023 remained in place during the quarter, most
notably the U.S. debt ceiling impasse and the continuation of the Fed’s historic pace of interest rate hikes.
Following months of debate and standoffs, President Biden signed the bi-partisan debt ceiling bill, avoiding
a much -publicized potential default and allowing the U.S. Treasury to fund its obligations. The bill
effectively suspended the debt ceiling until January 1, 2025, and included some reductions in spending at
the federal level.
As a result of continued surging inflation, the Fed lifted the overnight federal funds target rate by 25 basis
points its May but paused hiking at its June meeting, breaking the string of consecutive meetings with an
increase. The “hawkish pause” was accompanied by expectations for two more 25 basis point hikes during
the calendar year 2023. In July, the Fed raised the federal funds target rate by another 25 basis points,
ending the quarter at a new range of 5.25% to 5.50%.
Real GDP increased at an annual rate of 2.1% in the second quarter of 2023, slightly lower than the prior
quarter’s release. Growth in the second quarter was much higher than was originally expected, leading to
the Fed doubling their growth projections for the calendar year 2023. The U.S. labor market remained
strong in the quarter, adding 735,000 new jobs between May and July. The unemployment rate ended the
quarter at 3.5%, a slight move upwards from the prior quarter, while the labor participation rate reached a
post-pandemic high of 62.6%. The economy was aided by growth in personal consumption and durable
goods purchases, while consumer confidence hit an 18-month high. However, consumer credit reached
record levels, a symptom of continuing inflation. CPI increased 3.0% in June, marking the smallest 12-
month increase since March 2021, though rose slightly in July to end the quarter at 3.2% year-over-year.
The 3-month and 2-year Treasury yields finished the fiscal quarter at 5.42% and 4.88%, increasing by 36
basis points and 87 basis points respectively. The yield on the 10-year note ended the quarter at 3.96%, an
increase of 53 basis points quarter-over-quarter. Rates across the curve rose during the quarter, which had a
negative impact to performance for the quarter.
Portfolio Strategy Recap
• Diversification away from U.S. Treasury securities was strongly additive to fixed-income
performance during the second quarter as yield spreads across most sectors tightened. The
move to a more “risk on” mentality resulted in strong relative performance from spread
sectors.
• The 2003 Pledged Revenue Fund and Project Operating Fund posted quarterly returns of
1.23% and 1.27% respectively. The 2003 Pledged Revenue Fund underperformed the
benchmark by 2 basis points (-0.02%), while the Project Operating Fund overperformed the
benchmark by 2 basis points (0.02%).
Fourth Quarter: August 1, 2023 – October 31, 2023
Market Summary
The fourth quarter was characterized by consumers continuing to spend, which was supported by rising
wages and a strong labor market. The potential for additional monetary policy tightening by the Fed
remained possible in light of the Fed’s projections for stronger GDP growth an, higher inflation and
slightly lower unemployment for the balance of the year.
The labor market showed signs of slowing during the quarter. Throughout the quarter, the U.S. economy
added 673,000 jobs, underperforming the prior quarter, while the unemployment rate rose to 4.9%, hitting
a 21-month high. The labor market participation rate rose slightly from the prior quarter, coming in at
62.7% at the end of October.
25
CPI rose 3.2% in October, a sign that lingering inflation may be trending in the right direction. In light of
employment data and ever-decreasing CPI, the Fed maintained its pause at both meetings, keeping the
Federal Funds rate held steady at a range of 5.25% to 5.50%.
U.S. Treasury yields experienced little change on the shorter end of the curve, whereas the longer end was
more volatile. The 3-month and 1-year yields increased by 0.05% and 0.07%, ending the quarter at 5.47%
and 5.46% respectively. The largest moves came in the 5-, 10-, and 30-year treasuries with rates rising by
68, 97, and 109 basis points respectively, ending the quarter at 4.86%, 4.93%, and 5.10%. The 2-year
Treasury rose 21 basis points to end the quarter at 5.09%. The yield curve still remains inverted, although
the spread decreased during the quarter, as the yield difference between the 2- and 10-year U.S. Treasury
closed the quarter at -0.16%.
Portfolio Strategy Recap
• Yields rose sharply during the quarter, leading to negative absolute performance for longer-
duration strategies
• Diversification away from U.S. Treasuries was generally additive to fixed-income
performance as spreads across most sectors tightened or remained relatively stable.
Investment Guidelines Review
PFM Asset Management and Ramirez Asset Management have completed their annual review of the
Investment Guidelines and suggest no changes to the policy for 2024.
Portfolio Performance Update
Portfolios provided strong, absolute performance for the year, and all portfolios outperformed their
respective benchmarks. Sector diversification and a modestly defensive duration position relative to the
respective benchmark was additive to performance.
For the year, the 2003 Pledged Revenue underperformed its benchmark by 9 basis points, while the 2003
Project Operating Fund underperformed by 1 basis point. Since inception, both portfolios continue to
outperform the benchmark. The focus of these strategies continues to be on the Authority’s cashflow
needs.
Notes:
1 Year Ended
October 31, 2023
3 Year Ended
October 31, 2023
Since Inception
Long-Term Strategy:
2003 Reserve Fund
4.24% -0.81% 2.58%
BM: BAML 1-5 Year US Treasury Note Index
2.43% -1.68% 2.38%
BPCPC Operating Reserve Contingency
2.97% -2.26% 2.74%
Insurance Fund
2.92% -2.32% 2.68%
Operating Budget Reserve
3.21% -2.21% 2.81%
BM: BAML 1-10 Year US Treasury Note Index
1.44% -3.10% 2.38%
BPCA Other Post-Employment Benefits
2.26% -2.46% 2.04%
BM: BAML 1-10 Year US Treasury Note Index
1.44% -3.10% 1.74%
Short-Term Strategy:
2003 Pledged Revenue
4.68% 1.85% 1.38%
2003 Project Operating Fund
4.76% 1.84% 1.38%
BM: BAML 3 Month US Treasury Bill Index
4.77% 1.85% 1.33%
26
1. Bank of America/Merrill Lynch (BAML) indices provided by Bloomberg Financial Markets. The total returns shown for periods longer than
a year are the annualized returns for the stated period.
2. Performance of the highlighted portfolios was impacted in the 2nd and 3rd calendar quarters of 2019 by a temporary suspension of investment
strategy in order to provide liquidity for the 2019 bond financing.
3. Since inception performance for all portfolios other than ‘BPCA Other Post Employment Benefits’ and ‘BPCPC Other Post Employment
Benefits’ is calculated from January 31, 2006 to present
4. For the ‘Reserve Fund,’ the BAML 1-5 Year Treasury Index became the performance benchmark on July 31, 2013. For prior periods, the
BAML 1-10 Year Treasury Index was utilized.
5. Since inception performance for the ‘BPCA Other Post Employment Benefits’ is calculated from January 31, 2008 to present.
6. Since inception performance for the ‘BPCPC Other Post Employment Benefits’ is calculated from February 12, 2010 to present.
PFM Asset Management LLC
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
Hugh L. Carey
Battery Park City
Authority
Review of Investment Performance
Quarter Ended October 31, 2023 | pfmam.com | 609.452.0263
AgendaAgenda
I. Executive Summary
II. Summary of Aggregate Portfolio
III.Total Return Performance Attributes
IV.Market Commentary
2
I. Executive
Summary
3
Aaa
9.7%
Aa1
0.1%
Aa2
0.3%
P-1
89.8%
AAA
1.1%
AA
0.3%
A-1+
80.8%
AA-
0.0%
B+ or less
0.0%
Aggregate Portfolio Composition and
Credit Quality
Credit Quality Distribution (S&P)
as of 10/31/2023
Notes:
1. End of quarter trade-date market values of portfolio holdings, including accrued interest.
2. Government MBS includes Freddie Mac, Fannie Mae, Ginnie Mae, and Small Business Administration MBS.
3. NR holdings are not rated by S&P but rated by Moody’s and are in compliance with BPCA’s Investment Policy.
Maturity Distribution
As of 10/31/2023
Credit Quality Distribution (Moody’s)
as of 10/31/2023
4
Security Type
1
October 31, 2023
% of
Portfolio
Effective
Duration
July 31, 2023
% of
Portfolio
Effective
Duration
QoQ
Change
(% of
portfolio)
U.S. Treasuries
$857,724,593 95.3% 0.26
$504,396,540 89.7% 0.52
5.6%
Federal Agencies and Instrumentalities (non-MBS)
$10,469,184 1.2% 1.21
$10,403,769 1.9% 1.46
(0.7%)
Commercial Paper
$0 0.0% 0.00
$0 0.0% 0.00
-
Municipals
$4,776,137 0.5% 1.15
$4,777,319 0.8% 1.39
(0.3%)
Government MBS
2
$747,637 0.1% 2.81
$804,305 0.1% 2.83
(0.1%)
Cash
$25,953,253 2.9% 0.00
$41,912,453 7.5% 0.00
(4.6%)
Total $899,670,804 100.0% 0.27 $562,294,386 100.0% 0.55
92.7%
0.7%
1.4%
1.6%
0.9%
1.2%
1.5%
81.8%
6.3%
2.9%
2.3%
1.5%
2.2%
3.0%
0%
20%
40%
60%
80%
100%
Under 6
Months
6 - 12
Months
1 - 2
Years
2 - 3
Years
3 - 4
Years
4 - 5
Years
5 Years
& Over
October 31, 2023 July 31, 2023
Performance Overview – Total Return Strategies –
October 31, 2023
Notes:
1. Bank of America/Merrill Lynch (BAML) indices provided by Bloomberg Financial Markets. The total returns shown for periods longer than a year are the annualized returns for the stated period.
2. Performance of the highlighted portfolios was impacted in the 2nd and 3rd calendar quarters of 2019 by a temporary suspension of investment strategy in order to provide liquidity for the 2019 bond financing.
3. Since inception performance for all portfolios other than ‘BPCA Other Post Employment Benefits’ and ‘BPCPC Other Post Employment Benefits’ is calculated from January 31, 2006 to present
4. For the ‘Reserve Fund,’ the BAML 1-5 Year Treasury Index became the performance benchmark on July 31, 2013. For prior periods, the BAML 1-10 Year Treasury Index was utilized.
5. Since inception performance for the ‘BPCA Other Post Employment Benefits’ is calculated from January 31, 2008 to present.
6. Since inception performance for the ‘BPCPC Other Post Employment Benefits’ is calculated from February 12, 2010 to present.
7. BPCPC Other Post Employment Benefits holdings were transferred and consolidated with BPCA Other Post Employment Benefits holdings on December 23, 2021
5
Since
Inception
Past
3-Years
Past 12
Months
Past Quarter
Long-Term Strategy:
2.58%-0.81%4.24%0.23%2003 Reserve Fund
2.38%-1.68%2.43%0.03%BM: BAML 1-5 Year US Treasury Note Index
2.74%-2.26%2.97%0.23%BPCPC Operating Reserve Contingency
2.68%-2.32%2.92%-0.22%Insurance Fund
2.81%-2.21%3.21%-0.01%Operating Budget Reserve
2.38%-3.10%1.44%-1.22%BM: BAML 1-10 Year US Treasury Note Index
2.04%-2.46%2.26%-0.63%BPCA Other Post-Employment Benefits
1.74%-3.10%1.44%-1.22%BM: BAML 1-10 Year US Treasury Note Index
Short-Term Strategy:
1.38%1.85%4.68%1.37%2003 Pledged Revenue
1.38%1.84%4.76%1.35%2003 Project Operating Fund
1.33%1.85%4.77%1.36%BM: BAML 3 Month US Treasury Bill Index
Portfolio Recap – Market Drivers
Economy
▸ U.S. GDP grew 2.1% in the second quarter, up from the 2.0% expansion in the prior quarter. This comes as a result of
increases in consumer spending, state and local government spending, private business investment growth, and
federal government spending.
▸ The year-over year change in the Consumer Price Index (CPI) fell to 3.2% in October, coming in lower than market
expectations. This was a decrease from the month prior, as CPI came in at 3.7% in September. Core CPI, which
excludes volatile energy and food prices, climbed 4.0% in October from a year earlier, slightly under market
expectations.
▸ The labor market slowed slightly during the quarter, with the unemployment rate coming in around 3.9% in October.
The economy added 150,000 jobs during the month, lower than analysts expectations.
U.S. Treasury Yields
▸ Yields on U.S. Treasuries jumped during the quarter. The yield on the 2-year Treasury ended the quarter at 5.09%, up
21 basis points (0.21%) from the start of the quarter. The yield on the 10-year U.S. Treasury increased to 4.93% by
quarter-end, an increase of 97 basis points (0.97%) from July 31, 2023. Most notably, the 30-year U.S. Treasury
increased to 5.10%, up 109 basis points (1.09%) from July 31, 2023.
Federal Reserve
▸ The Fed paused its rate hiking cycle during all meetings held during the quarter. The federal funds rate remains at a
target range of 5.25% - 5.50%.
▸ The updated summary of economic projections points toward lower growth, high inflation and a higher unemployment
rate in 2023.
6
Portfolio Recap – Performance & Cash Flows
Longer-Term Funds.
▸
Increasing yields on longer-term securities led to negative returns.
▸
We continued to maintain a defensive duration posture relative to benchmarks.
▸
The performance of every Longer-Term fund exceeded all relevant benchmarks.
Short-Term Funds
▸
The 2003 Pledged Revenue Fund and Project Operating Fund posted quarterly returns of 1.37%
and 1.35% respectively. The 2003 Pledged Revenue Fund outperformed the benchmark by 1 basis
points (0.01%), while the Project Operating Fund underperformed the benchmark by 1 basis points
(-0.01%).
▸
Each portfolio continues to be structured based on anticipated liquidity needs. We continue to seek
high-quality commercial paper issuers in line with liquidity needs and pockets of value in the current
market.
7
Investment Policy Issuer Guidelines
Notes:
1. For informational/analytical purposes only and is not provided for compliance assurance. Subject to interpretation as derived from our interpretation of your Investment Policy as provided
2. BPCA’s investment guidelines do not detail sector limits for commercial paper, supranationals, or Government MBS.
3. Commercial paper issuer limits are subject to the lesser of 5% or $250 million per issuer.
4. Actual ($) include market value plus accrued interest.
5.
Bolded Issuers are new additions to the portfolio.
8
Compliance Issuer Check
Issuer Actual (%)
Actual ($)
3
IPS Limit S&P Rating Moody's Rating Check
U.S. Treasury
95.34%
857,724,593
100% AA+ Aaa
OK
Cash
2.88%
25,953,253
NA AAAm AAAm
OK
International Bank of Recon and Development
0.41%
3,721,321
$250,000,000 AAA Aaa
OK
New York City
0.30%
2,658,186
10% AA Aa2
OK
Asian Development Bank
0.25%
2,227,202
$250,000,000 AAA Aaa
OK
International American Development Bank
0.24%
2,172,329
$250,000,000 AAA Aaa
OK
Fannie Mae
0.20%
1,791,412
$250,000,000 AA+ Aaa
OK
Tennessee State
0.11%
1,001,930
10% 0.00% 0.00%
OK
New York State
0.09%
815,148
10% AA+ Aa1
OK
African Development Bank
0.08%
702,043
$250,000,000 AAA Aaa
OK
Small Business Administration
0.05%
446,085
100% AA+ Aaa
OK
NY State Dorm Authority
0.03%
300,873
10% AA+ Aa1
OK
Ginnie Mae
0.01%
126,691
100% AA+ Aaa
OK
Freddie Mac
0.00%
29,738
$250,000,000 AA+ Aaa
OK
Change in Value – Total Return Accounts
Notes:
1. Beginning Period Value is as of July 31, 2023 and Ending Period Value is as of October 31, 2023.
Beginning Period Value and Ending Period Value equal market values of portfolio holdings plus accrued
interest and cash.
2. Net Transfers are the total cash flows in and out of each account that occurred during the quarter.
9
Account Name
Beginning Period
Value
1
(+/-)
Net Transfers
2
(+/-) Change in Value =
Ending
Period Value
1
2003 Reserve Fund 33,353,511.53 (33,358,374) $4,863 $0
BPCPC Operating Reserve Contingency $7,069,331 $6,477,675 $26,504 $13,573,511
Insurance Fund $5,879,438 ($0) ($12,780) $5,866,659
Operating Budget Reserve $24,478,734 $2,000,000 ($2,948) $26,475,786
BPCA Other Post-Employment Benefits $40,143,323 ($0) ($253,441) $39,889,882
Subtotal
$110,924,338 ($24,880,699) ($237,801) $85,805,837
2003 Pledged Revenue
$186,810,051 $16,305,996 $2,750,389 $205,866,435
2003 Project Operating Fund $10,961,633 ($189,000) $120,453 $10,893,086
Subtotal
$197,771,683 $16,116,996 $2,870,842 $216,759,521
Total
$308,696,021 ($8,763,703) $2,633,040 $302,565,358
Longer Term Investment Strategy
Shorter Term Investment Strategy
Change in Value – Other BPCA Accounts
10
Notes:
1. Beginning Period Value is as of July 31, 2023 and Ending Period Value is as of October 31, 2023.
Beginning Period Value and Ending Period Value equal market values of portfolio holdings plus accrued
interest and cash.
2. Net Transfers are the total cash flows in and out of each account that occurred during the quarter.
Account Name
Beginning Period
Value
1
(+/-)
Net Transfers
2
(+/-) Change in Value =
Ending
Period Value
1
Corporate Funds $3,756,356 $38,174 $50,578 $3,845,109
2000 Arbitrage Rebate $870,048 $0 $11,697 $881,745
Unpledged Revenue $11,957,656 $6,100,442 $202,828 $18,260,925
2003 Residual Fund $2,687,275 $0 $36,153 $2,723,428
Joint Purpose Fund $87,155,410 $0 $1,184,671 $88,340,080
Special Fund $1,005,522 $0 $13,522 $1,019,044
BPCPC Operating Reserve $0 $0 $0 $0
BPCA Goldman Sachs Liberty Contribution Fund $1,438 ($1,438) $0 $0
BPCA Series 2009A Project Costs $0 $0 $0 $0
BPCA2013ACDE Proj Cost Sub AC $4,918,272 $3,514,383 $110,315 $8,542,971
BPCA Pier A Reserve Fund $1,483,435 ($1,482,564) $0 $871
BPCA 2019A Comm Ctr SB Proj $102 $0 $0 $102
BPCA 2019A Sustainable Proj $12,223,531 $2,338,611 $196,001 $14,758,143
BPCA 2019ABCDE COI $5,628 ($5,628) $0 $0
BPCA 2019BDE Project $4,337,566 $1,722,679 $80,500 $6,140,745
BPCA 2019C Pier A SB Proj $3,614,029 ($3,611,938) $0 $2,091
BPCA 2023A Sustainable Project $0 $332,232,642 $4,546,730 $336,779,372
BPCA Lease Refinancing Fee $0 $2,311,091 $331 $2,311,422
Subtotal
$134,016,269 $343,156,454 $6,433,325 $483,606,048
PFM Asset Management Accounts
Change in Value – Other BPCA Accounts
11
Notes:
1. Beginning Period Value is as of July 31, 2023 and Ending Period Value is as of October 31, 2023.
Beginning Period Value and Ending Period Value equal market values of portfolio holdings plus accrued
interest and cash.
2. Net Transfers are the total cash flows in and out of each account that occurred during the quarter.
Account Name
Beginning Period
Value
1
(+/-)
Net Transfers
2
(+/-) Change in Value =
Ending
Period Value
1
Liberty Terr Mariners Cove-K $315,723 $0 $4,327 320,050.12
Liberty House Mariners J $258,278 $0 $3,537 $261,814
Rector Park L $35,934 $0 $489 $36,422
Hudson View W Towers G $181,832 $0 $2,492 $184,324
Hudson Towers E/F $221,139 $0 $2,950 $224,089
Hudson View Towers C $195,193 $0 $2,750 $197,943
Liberty Ct Mariners Cove B $644,785 $0 $8,841 $653,626
Millenium $3,892,844 $0 $53,416 $3,946,260
Liberty Battery Place Assoc 4 $464,908 $0 $6,376 $471,284
South Cove Assoc 11 $422,212 $0 $5,787 $427,999
Soundings Rector Park A $225,949 $0 $3,094 $229,044
The Regatta Site 10 $515,487 $0 $7,069 $522,556
2003 Debt Service Junior Payments $28,500,737 ($22,498,456) $279,782 $6,282,063
2003 Debt Service Senior Payments $61,388,059 ($10,207,793) $515,683 $51,695,949
BPCA Millenium Tower Security Fund 2A $3,250,845 $0 $44,608 $3,295,453
BPCA S 16/17 Riverhouse Security Fund $6,907,275 $0 $94,786 $7,002,061
BPCA Visionaire Security Fund $4,206,265 $0 $57,716 $4,263,981
BPCA One Rector Park Security Fund $1,032,292 $0 $14,159 $1,046,451
BPCA Rector Square Security Fund Site D $237,714 $0 $3,255 $240,969
BPCA WFC Tower C Retail Rent Escrow $268,024 $0 $3,670 $271,695
BPCA River & Warren Sec Fund - Site 19A $6,361,596 $0 $87,294 $6,448,889
BPCA North Cove Marina Security Fund $55,008 $0 $750 $55,758
BPCA TRANSACTION PYMT SEC DEPOSIT $500,000 $0 $4,488 $504,488
BPCA 2023B PROJECT $0 $10,417,253 $108,216 $10,525,468
BPCA 2023C SUSTAINABLE TAXABLE PROJ $0 $9,137,166 $95,556 $9,232,723
BPCA PIER A RESERVE $0 $1,490,041 $5,719 $1,495,760
BPCA 2019C PIER A SB PROJ $0 $3,648,269 $14,010 $3,662,279
Subtotal
$120,082,097 ($8,013,520) $1,430,821 113,499,398.62
Total
$254,098,366 $335,142,935 $7,864,146 597,105,446.54
Ramirez Asset Management Accounts
II. Summary of
Aggregate
Portfolio
12
Notes:
1. End of quarter trade-date market values of portfolio holdings, including accrued interest.
2. Pursuant to the Authority's Investment Policy, investments in obligations other than those backed by the full faith and credit of the U.S. Government are limited to the following: (1) Federal Agencies -
$250 million per issuer, (2) Commercial Paper - the lesser of 5% or $250 million per issuer, (3) Bankers' Acceptances - the lesser of 5% or $250 million per issuer and (4) Municipal Bonds - 10%.
3. Federal Agencies and Instrumentalities includes Mortgage-Backed Securities.
Aggregate Portfolio Issuer Breakdown
13
Security Type
October 31, 2023 % of Portfolio
July 31, 2023 % of Portfolio QoQ % Change
United States Treasury
2
U.S. Treasury
$857,724,593 95.3%
$504,396,540 89.7% 5.6%
Ginnie Mae
$126,691 0.0%
$142,363 0.0% (0.0%)
Small Business Administration
$446,085 0.0%
$476,483 0.1% (0.0%)
Federal Agencies and Instrumentalities
2,3
Freddie Mac
$29,738 0.0%
$32,003 0.0% (0.0%)
Fannie Mae
$1,791,412 0.2%
$1,776,727 0.3% (0.1%)
International Bank of Recon and Development
$3,721,321 0.4%
$3,699,092 0.7% (0.2%)
International American Development Bank
$2,172,329 0.2%
$2,167,697 0.4% (0.1%)
Asian Development Bank
$2,227,202 0.2%
$2,209,518 0.4% (0.1%)
African Development Bank
$702,043 0.1%
$704,191 0.1% (0.0%)
Municipal Issuers
2
New York City
$2,658,186 0.3%
$2,669,818 0.5% (0.2%)
NY State Dorm Authority
$300,873 0.0%
$306,986 0.1% (0.0%)
New York State
$815,148 0.1%
$812,569 0.1% (0.1%)
Tennessee State
$1,001,930 0.1%
$987,945 0.2% (0.1%)
Cash
Cash
$25,953,253 2.9%
$41,912,453 7.5% (4.6%)
TOTAL $899,670,804 100.0% $562,294,386 100.0%
Portfolio Value – Total Return Accounts
Notes:
1. “Total Market Value” includes accrued interest and cash balances held at the bank.
14
Longer Term Investment Strategy Total Market Value
1
Effective
Duration
% of Total
Portfolio
Total Market Value
1
Effective
Duration
% of Total
Portfolio
QoQ %
Change
2003 Reserve Fund
$0 2.87 0.0%
$33,353,512
0.00 5.9% -5.9%
BPCPC Operating Reserve Contingency
$13,573,511 1.64 1.5%
$7,069,331
3.45 1.3% 0.3%
Insurance Fund
$5,866,659 2.33 0.7%
$5,879,438
2.58 1.0% -0.4%
Operating Budget Reserve
$26,475,786 1.89 2.9%
$24,478,734
2.27 4.4% -1.4%
BPCA Other Post-Employment Benefits
$39,889,882 2.87 4.4%
$40,143,323
3.06 7.1% -2.7%
Subtotal Longer Term Investment Strategy $85,805,837 2.34 9.5% $110,924,338 1.96 19.7% -10.2%
Short Term Investment Strategy
2003 Pledged Revenue
$205,866,435 0.04 22.9%
$186,810,051 0.17 33.2% -10.3%
2003 Project Operating Fund
$10,893,086 0.00 1.2%
$10,961,633 0.00 1.9% -0.7%
Subtotal Short Term Investment Strategy $216,759,521 0.04 24.1% $197,771,683 0.16 35.2% -11.1%
Subtotal of Total Return Accounts $302,565,358 0.00 33.6% $308,696,021 0.00 54.9% -21.3%
October 31, 2023
July 31, 2023
Portfolio Value – Other BPCA Accounts
Notes:
1. “Total Market Value” includes accrued interest and cash balances held at the bank.
15
PFM Asset Management Accounts Total Market Value
Effective
Duration
% of Total
Portfolio
Market Value
1
Effective
Duration
% of Total
Portfolio
QoQ %
Change
Corporate Funds
$3,845,109 0.00 0.4%
$3,756,356
0.00 0.7%
(0.2%)
2000 Arbitrage Rebate
$881,745 0.00 0.1%
$870,048
0.00 0.2%
(0.1%)
Unpledged Revenue
$18,260,925 0.00 2.0%
$11,957,656
0.11 2.1%
(0.1%)
2003 Residual Fund $2,723,428 0.00 0.3%
$2,687,275
0.00 0.5%
(0.2%)
Joint Purpose Fund
$88,340,080 0.00 9.8%
$87,155,410
0.00 15.5%
(5.7%)
Special Fund
$1,019,044 0.00 0.1%
$1,005,522
0.00 0.2%
(0.1%)
BPCPC Operating Reserve $0 0.00 0.0%
$0
0.00 0.0%
-
BPCA Goldman Sachs Liberty Contribution Fund
$0 0.00 0.0%
$1,438
0.00 0.0%
(0.0%)
BPCA Series 2009A Project Costs
$0 0.00 0.0%
$0
0.00 0.0%
-
BPCA Series 2009B Project Costs
$0 0.00 0.0%
$0
0.00 0.0%
-
BPCA Pier A Construction Escrow
$0 0.00 0.0%
$0
0.00 0.0%
-
BPCA Insurance Advance
$0 0.00 0.0%
$0
0.00 0.0%
-
BPCA2013ACDE COI SUB AC
$0 0.00 0.0%
$0
0.00 0.0%
-
BPCA2013B COI SUB AC
$0 0.00 0.0%
$0
0.00 0.0%
-
BPCA2013ACDE PROJ COST SUB AC
$8,542,971 0.00 0.9%
$4,918,272
0.00 0.9%
0.1%
BPCA2013B PROJ COSTS SUB AC
$0 0.00 0.0%
$0
0.00 0.0%
-
BPCA PIER A RESERVE FUND
$871 0.00 0.0%
$1,483,435
0.00 0.3%
(0.3%)
BPCA SUBORDINATED PAYMENT ACCOUNT
$0 0.00 0.0%
$0
0.00 0.0%
-
BPCA 2019A Comm Ctr SB Proj
$102 0.00 0.0%
$102
0.00 0.0%
(0.0%)
BPCA 2019A Sustainable Proj
$14,758,143 0.00 1.6%
$12,223,531
0.00 2.2%
(0.5%)
BPCA 2019ABCDE COI
$0 0.00 0.0%
$5,628
0.00 0.0%
(0.0%)
BPCA 2019BDE Project
$6,140,745 0.00 0.7%
$4,337,566
0.00 0.8%
(0.1%)
BPCA 2019C Pier A SB Proj
$2,091 0.00 0.0%
$3,614,029
0.00 0.6%
(0.6%)
BPCA LEASE REFINANCING FEE
$2,311,329 0.00 0.3%
$0
0.00 0.0%
0.3%
BPCA 2023A SUSTAINABLE PROJECT
$336,779,464 0.00 37.4%
$0
0.00 0.0%
37.4%
Subtotal PFM Asset Management Accounts $483,606,048 0.00 53.8% $134,016,269 0.01 14.9% 38.9%
October 31, 2023 July 31, 2023
Portfolio Value – Other BPCA Accounts
Notes:
1. “Total Market Value” includes accrued interest and cash balances held at the bank.
2. Highlighted funds are managed by Ramirez Asset Management (“RAM”). Market values for these funds are provided by RAM.
16
RAM Managed Accounts Total Market Value
Effective
Duration
% of Total
Portfolio
Market Value
1
Effective
Duration
% of Total
Portfolio
QoQ %
Change
Liberty Terr Mariners Cove-K
$320,050 0.00 0.0%
$315,723
0.00 0.1%
(0.0%)
Liberty House Mariners J
$261,814 0.00 0.0%
$258,278
0.00 0.0%
(0.0%)
Rector Park L
$36,422 0.00 0.0%
$35,934
0.00 0.0%
(0.0%)
Hudson View W Towers G
$184,324 0.00 0.0%
$181,832
0.00 0.0%
(0.0%)
Hudson Towers E/F
$224,166 0.00 0.0%
$221,139
0.00 0.0%
(0.0%)
Hudson View Towers C
$197,866 0.00 0.0%
$195,193
0.00 0.0%
(0.0%)
Liberty Ct Mariners Cove B
$653,626 0.00 0.1%
$644,785
0.00 0.1%
(0.0%)
Millenium
$3,946,260 0.00 0.4%
$3,892,844
0.00 0.7%
(0.3%)
Liberty Battery Place Assoc 4
$471,284 0.00 0.1%
$464,908
0.00 0.1%
(0.0%)
South Cove Assoc 11
$427,999 0.00 0.0%
$422,212
0.00 0.1%
(0.0%)
Soundings Rector Park A
$229,044 0.00 0.0%
$225,949
0.00 0.0%
(0.0%)
The Regatta Site 10
$522,556 0.00 0.1%
$515,487
0.00 0.1%
(0.0%)
2003 Debt Service Junior Payments
$6,282,063 0.00 0.7%
$28,500,737
0.00 5.1%
(4.4%)
2003 Debt Service Senior Payments
$51,695,949 0.00 5.7%
$61,388,059
0.00 10.9%
(5.2%)
BPCA Millenium Tower Security Fund 2A
$3,295,453 0.00 0.4%
$3,250,845
0.00 0.6%
(0.2%)
BPCA S 16/17 Riverhouse Security Fund
$7,002,061 0.00 0.8%
$6,907,275
0.00 1.2%
(0.5%)
BPCA Visionaire Security Fund
$4,263,981 0.00 0.5%
$4,206,265
0.00 0.7%
(0.3%)
BPCA Pier A Security Deposit Account
$0 0.00 0.0%
$0
0.00 0.0%
-
BPCA One Rector Park Security Fund
$1,046,451 0.00 0.1%
$1,032,292
0.00 0.2%
(0.1%)
BPCA Rector Square Security Fund Site D
$240,969 0.00 0.0%
$237,714
0.00 0.0%
(0.0%)
BPCA WFC TOWER C RETAIL RENT ESCROW
$271,695 0.00 0.0%
$268,024
0.00 0.0%
(0.0%)
BPCA RIVER & WARREN SEC FUND - SITE 19A
$6,448,889 0.00 0.7%
$6,361,596
0.00 1.1%
(0.4%)
BPCA NORTH COVE MARINA SECURITY FUND
$55,758 0.00 0.0%
$55,008
0.00 0.0%
(0.0%)
BPCA 19C Pier A
$3,662,279 0.00 0.4%
$0
0.00 0.0%
0.4%
BPCA Pier A Reserve Fund
$1,496,374 0.00 0.2%
$0
0.00 0.0%
0.2%
BPCA 2023B Pier A
$10,524,570 0.00 1.2%
$0
0.00 0.0%
1.2%
BPCA 2023C Sustainable Taxable - Pie
$9,233,007 0.00 1.0%
$0
0.00 0.0%
1.0%
BPCA Transaction Pymt Sec Deposit
$504,488
0.00
0.1%
$0
0.00
0.0%
0.1%
Subtotal of RAM Managed Accounts $113,499,399 0.00 12.6% $119,582,097 0.00 0.21 -8.7%
Subtotal of Other BPCA Accounts
$597,105,447 0.00 66.4% $253,598,366 0.00 45.1% 21.3%
GRAND TOTAL
$899,670,804
0.00
100.0%
$562,294,386
0.00
100.0%
October 31, 2023
July 31, 2023
Aggregate Portfolio Summary: PFM Asset
Management
Notes:
1. Market Value includes accrued interest but does not include cash balances held at the bank.
2. Government MBS includes Freddie Mac, Fannie Mae, Ginnie Mae, and Small Business Administration MBS.
3. NR holdings are not rated by S&P but rated by Moody’s and are in compliance with BPCA’s investment policy.
Credit Quality (S&P)
as of 10/31/2023
Maturity Distribution
as of 10/31/2023
Credit Quality (Moody’s)
as of 10/31/2023
17
Security Type
1
October 31, 2023
% of
Advisor
% of Total
Portfolio
Effective
Duration July 31, 2023
% of
Advisor
% of Total
Portfolio
Effective
Duration
QoQ
Change
(% of Advisor)
U.S. Treasuries
$771,113,793
98.1% 88.2%
0.28 $427,398,498
96.5% 82.1%
0.53 1.5%
Federal Agencies and Instrumentalities (non-
MBS)
$10,469,184
1.3% 1.2%
1.21 $10,403,769
2.4% 2.0%
1.46 (1.0%)
Commercial Paper
$0
0.0% 0.0%
0.00 $0
0.0% 0.0%
0.00 -
Municipals
$3,774,207
0.5% 0.4%
1.45 $3,789,374
0.9% 0.7%
1.69 (0.4%)
Government MBS
2
$731,981
0.1% 0.1%
2.87 $786,600
0.2% 0.2%
2.86 (0.1%)
Cash
$82,242
0.0% 0.0%
0.00 $334,048
0.1% 0.1%
0.00 (0.1%)
Totals $786,171,406 100% 90.0% 0.30 $442,712,289 100.0% 85.0% 0.57
91.9%
0.8%
1.6%
1.7%
1.0%
1.4%
1.7%
84.8%
1.2%
3.4%
2.7%
1.7%
2.6%
3.5%
0%
20%
40%
60%
80%
100%
Under 6
Months
6 - 12
Months
1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years 5 Years and
Over
October 31, 2023 July 31, 2023
AA+
8.7%
AA
0.3%
AAA
1.1%
A-1+
89.8%
Aaa
9.7%
Aa1
0.1%
Aa2
0.3%
P-1
89.8%
Aggregate Portfolio Summary:
Ramirez Asset Management
Credit Quality (S&P)
as of 10/31/2023
Maturity Distribution
as of 10/31/2023
Notes:
1. Market Value includes accrued interest but does not include cash balances held at the bank.
2. Government MBS includes Freddie Mac, Fannie Mae, Ginnie Mae, and Small Business Administration MBS.
Credit Quality (Moody’s)
as of 10/31/2023
18
Security Type
1
October 31, 2023
% of
Advisor
% of Total
Portfolio
Effective
Duration July 31, 2023
% of
Advisor
% of Total
Portfolio
Effective
Duration
QoQ
Change
(% of Advisor)
U.S. Treasuries
$86,610,801
76.3% 9.6%
0.00 $76,998,042
64.4% 13.7%
0.48 11.9%
Federal Agencies and Instrumentalities (non-
MBS)
$0
0.0% 0.0%
0.00 $0
0.0% 0.0%
0.00 -
Commercial Paper
$0
0.0% 0.0%
0.00 $0
0.0% 0.0%
0.00 -
Municipals
$1,001,930
0.9% 0.1%
0.00 $987,945
0.8% 0.2%
0.25 0.1%
Government MBS
2
$15,656
0.0% 0.0%
0.00 $17,705
0.0% 0.0%
1.37 (0.0%)
Cash
$25,871,012
22.8% 2.9%
0.00 $41,578,405
34.8% 7.4%
0.00 (12.0%)
Totals $113,499,399 100% 12.6% 0.00 $119,582,097 100.0% 21.3% 0.48
75.6%
24.4%
0.0% 0.0% 0.0% 0.0% 0.0%
64.7%
35.3%
0.0% 0.0% 0.0% 0.0%
0.0%
0%
20%
40%
60%
80%
100%
Under 6
Months
6 - 12
Months
1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years 5 Years and
Over
October 31, 2023 July 31, 2023
AA+
98.9%
AAA
1.1%
Aaa
100.0%
Portfolio Earnings – PFMAM-Managed Accounts
Notes:
1. Beginning and ending Values exclude accrued income and cash balances at the bank.
2. Interest earned includes coupon income paid, change in beginning and ending accruals, and purchased/sold accrued interest.
3. A negative change in market value does not mean a realized loss. Losses are not realized until security/securities are sold.
19
Market Value Basis
3
Accrual (Amortized Cost) Basis
1
$442,001,095 $442,378,241
Net Purchases (Sales) $340,006,484 $340,006,484
Change in Value $3,613,203 $3,704,438
1
$785,620,782 $786,089,164
Net Income
2
$3,153,622 $3,409,910
Porfolio Earnings $6,766,825 $7,114,348
Quarter-Ended October 31, 2023
Beginning Value - July 2023
Ending Value - October 2023
Portfolio Earnings
Portfolio Earnings – Ramirez-Managed Accounts
Notes:
1. Underlying data for Market Value Basis supplied by Advent APX, values exclude accrued income and cash balances at the bank.
2. Accrual (Amortized Cost) Basis data provided by custodian, BNY-Mellon.
3. Net Income includes coupon income paid, change in beginning and ending accruals, and purchased/sold accrued interest.
4. A negative change in market value does not mean a realized loss. Losses are not realized until security/securities are sold.
20
Market Value Basis
1, 4
Accrual (Amortized Cost) Basis
2
$77,701,539.36 $77,320,819
Net Purchases (Sales) $8,885,455.03 $8,885,455
Change in Value $969,739.69 $356,357
$87,556,734.08 $86,562,631
Net Income
3
$313,811.43
$313,811
Porfolio Earnings
$1,283,551.12
$670,168
Portfolio Earnings
Quarter-Ended October 31, 2023
Beginning Value - July 2023
Ending Value - October 2023
III. Total Return
Performance
Attributes
21
Total Return Portfolio Attributes
BPCPC Other Post Employment Benefits holdings were transferred and consolidated with BPCA Other Post Employment Benefits holdings on
December 23, 2021
22
October 31, 2023
July 31, 2023
October 31, 2023
July 31, 2023
October 31, 2023
July 31, 2023
Longer Term Investment Strategy
2003 Reserve Fund
2.87
0.00
5.75%
5.25%
5.54%
5.03%
BPCPC Operating Reserve Contingency
1.64
3.45
3.81%
4.46%
3.36%
1.57%
Insurance Fund
2.33
2.58
4.84%
4.67%
2.08%
1.89%
Operating Budget Reserve
1.89
2.27
4.37%
4.62%
2.47%
1.84%
BPCA Other Post-Employment Benefits
2.87
3.06
5.13%
4.69%
1.86%
1.82%
Short Term Investment Strategy
2003 Pledged Revenue
0.04
0.17
4.97%
5.06%
5.29%
5.19%
2003 Project Operating Fund
0.00
0.00
4.87%
4.35%
5.30%
5.16%
Effective Duration (in years) Yield To Maturity - At Market Yield To Maturity - On Cost
2.87
1.64
2.33
1.89
2.87
0.04
0.00
0.00
3.45
2.58
2.27
3.06
0.17
0.00
-
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
2003 Reserve Fund BPCPC Operating
Reserve Contingency
Insurance Fund Operating Budget
Reserve
BPCA Other Post-
Employment Benefits
2003 Pledged
Revenue
2003 Project
Operating Fund
Effective Duration (Years)
Account Name
Effective Duration by Account
October 31, 2023
July 31, 2023
Portfolios
Managed with a
Longer-Term
Investment
Strategy
23
Notes:
1. Performance on trade-date basis, gross-of-fees in accordance with the CFA Institute’s Global Investment Performance Standards.
2. 2003 Reserve Fund, Operating Budget Reserve, Insurance Fund, and the Operating Reserve Contingency Funds temporarily suspended their investment strategies from June 2019 to December 2019 due to 2019 bond funding.
3. Bank of America/Merrill Lynch (BAML) indices provided by Bloomberg Financial Markets. The total returns shown for periods longer than a year are the annualized returns for the stated period.
4. Duration is the change in the value of a security that will result from a 1% change in interest rates, stated in years.
5. Periodic performance numbers are presented both as the periodic return and on an annualized basis. The annualized return assumes the periodic return is compounded at the same rate and is presented for reference only. The actual annual return will be the result
of chaining the most recent four quarterly returns.
6. Since inception performance for all portfolios other than ‘BPCA Other Post Employment Benefits’ and ‘BPCPC Other Post Employment Benefits’ is calculated from January 31, 2006 to present. For the ‘Reserve Fund,’ the inception of the BAML 1-5 Year Treasury Index
as the performance benchmark is July 31, 2013. For prior periods, the BAML 1-10 Year Treasury Index was utilized. Since inception performance for the ‘BPCA Other Post Employment Benefits’ is calculated from January 31, 2008 to present. Since inception
performance for the ‘BPCPC Other Post Employment Benefits’ is calculated from February 12, 2010 to present.
7. BPCPC Other Post Employment Benefits holdings were transferred and consolidated with BPCA Other Post Employment Benefits holdings on December 23, 2021
Longer-Term Investment Strategy
24
Annualized
Annualized
Total Return
1,2,4,5
October 31, 2023
Quarter
Since Inception
5
2003 Reserve Fund
0.23%
0.90%
2.58%
0.03%
0.12%
2.38%
BPCPC Operating Reserve Contingency
0.23%
0.92%
2.74%
Insurance Fund
(0.22%)
-0.86%
2.68%
Operating Budget Reserve
(0.01%)
-0.05%
2.81%
(1.22%)
-4.77%
2.38%
BPCA Other Post-Employment Benefits
(0.63%)
-2.48%
2.04%
(1.22%)
-4.77%
1.74%
BPCPC Other Post-Employment Benefits
0.00%
0.00%
1.99%
(1.22%)
-4.77%
1.37%
BM: BAML 1-5 Year US Treasury Note Index
BM: BAML 1-10 Year US Treasury Note Index
BM: BAML 1-10 Year US Treasury Note Index
BM: BAML 1-10 Year US Treasury Note Index
-1.80%
-1.60%
-1.40%
-1.20%
-1.00%
-0.80%
-0.60%
-0.40%
-0.20%
0.00%
0.20%
0.40%
10/31/2023 7/31/2023
Quarterly Return
Performance Comparison
2003 Reserve Fund Reserve BM BPCPC Operating Reserve Contingency
Insurance Fund Operating Budget Reserve BPCA OPEB
ML 1-10 Year US Treasury Index
Longer Term Investment Strategy
25
Notes:
1. Performance on trade-date basis, gross-of-fees in accordance with the CFA Institute’s Global Investment Performance Standards.
2. 2003 Reserve Fund, Operating Budget Reserve, Insurance Fund, and the Operating Reserve Contingency Funds temporarily suspended their investment strategies from June 2019 to December 2019 due to 2019 bond funding.
3. Bank of America/Merrill Lynch (BAML) indices provided by Bloomberg Financial Markets. The total returns shown for periods longer than a year are the annualized returns for the stated period.
4. Duration is the change in the value of a security that will result from a 1% change in interest rates, stated in years.
5. Periodic performance numbers are presented both as the periodic return and on an annualized basis. The annualized return assumes the periodic return is compounded at the same rate and is presented for reference only. The actual annual return will be the result
of chaining the most recent four quarterly returns.
6. Since inception performance for all portfolios other than ‘BPCA Other Post Employment Benefits’ and ‘BPCPC Other Post Employment Benefits’ is calculated from January 31, 2006 to present. For the ‘Reserve Fund,’ the inception of the BAML 1-5 Year Treasury Index
as the performance benchmark is July 31, 2013. For prior periods, the BAML 1-10 Year Treasury Index was utilized. Since inception performance for the ‘BPCA Other Post Employment Benefits’ is calculated from January 31, 2008 to present. Since inception
performance for the ‘BPCPC Other Post Employment Benefits’ is calculated from February 12, 2010 to present.
7. BPCPC Other Post Employment Benefits holdings were transferred and consolidated with BPCA Other Post Employment Benefits holdings on December 23, 2021
Effective Duration (in years)
3
October 31, 2023
July 31, 2023
2003 Reserve Fund
2.87
0.00
2.56 2.50
BPCPC Operating Reserve Contingency
1.64
3.45
Insurance Fund
2.33
2.58
Operating Budget Reserve
1.89
2.27
BPCA Other Post-Employment Benefits
2.87
3.06
BPCPC Other Post-Employment Benefits
0.00
0.00
3.61 3.74BM: BAML 1-10 Year US Treasury Note Index
BM: BAML 1-5 Year US Treasury Note Index
-1.40%
-1.20%
-1.00%
-0.80%
-0.60%
-0.40%
-0.20%
0.00%
0.20%
0.40%
0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00
Return
Effective Duration (Years)
Quarter Total Return Comparison
(Period Ended 10/31/2023)
2003 Reserve Fund Portfolio
Notes:
1. End of quarter trade-date market values of portfolio holdings, including accrued interest.
2. Government MBS includes Freddie Mac, Fannie Mae, Ginnie Mae, and Small Business Administration MBS.
26
Security Type
1
October 31, 2023 % of Portfolio
July 31, 2023 % of Portfolio QoQ % Change
U.S. Treasuries
$0 0.0%
$33,348,137 100.0% (100.0%)
Federal Agencies and Instrumentalities (non-MBS)
$0 0.0%
$0 0.0% 0.0%
Commercial Paper
$0 0.0%
$0 0.0% 0.0%
Municipal Obligations
$0 0.0%
$0 0.0% 0.0%
Government MBS
$0 0.0%
$0 0.0% (0.0%)
Cash
$0 0.0%
$5,374 0.0% (0.0%)
Totals $0 0.0% $33,353,512 100.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
100.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0%
20%
40%
60%
80%
100%
Under 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years 5 Years and Over
2003 Reserve Fund Portfolio Maturity Distribution
October 31, 2023
July 31, 2023
AA+
44.5%
AA
0.8%
AAA
4.3%
A-1+ & A-1
(Short-term)
50.4%
Credit Quality Distribution as of 10/31/2023
BPCPC Operating Portfolio
Notes:
1. End of quarter trade-date market values of portfolio holdings, including accrued interest.
2. Government MBS includes Freddie Mac, Fannie Mae, Ginnie Mae, and Small Business Administration MBS.
27
Security Type
1
October 31, 2023 % of Portfolio
July 31, 2023 % of Portfolio QoQ % Change
U.S. Treasuries
$12,585,934 92.7%
$6,055,698 85.7% 7.1%
Federal Agencies and Instrumentalities (non-MBS)
$584,973 4.3%
$586,307 8.3% (4.0%)
Commercial Paper
$0 0.0%
$0 0.0% 0.0%
Municipal Obligations
$144,159 1.1%
$145,870 2.1% (1.0%)
Government MBS
$258,054 1.9%
$276,875 3.9% (2.0%)
Cash
$391 0.0%
$4,582 0.1% (0.1%)
Totals $13,573,511 100.0% $7,069,331 100.0%
51.1%
1.3%
4.6%
13.8%
10.0%
11.3%
8.0%
3.3%
2.6%
6.0%
27.1%
13.0%
26.1%
22.0%
0%
20%
40%
60%
80%
100%
Under 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years 5 Years and Over
BPCPC Operating Portfolio Maturity Distribution
October 31, 2023
July 31, 2023
U.S.
Treasuries
92.7%
Federal Agencies and
Instrumentalities (non-
MBS)
4.3%
Municipal
Obligations
1.1%
Government
MBS
1.9%
Cash
0.0%
Portfolio Composition as of 10/31/2023
AA+
77.1%
AA
2.8%
AAA
7.9%
A-1+ & A-1
(Short-term)
12.2%
Credit Quality Distribution as of 10/31/2023
U.S. Treasuries
88.8%
Federal Agencies and
Instrumentalities (non-MBS)
7.9%
Municipal
Obligations
3.1%
Government MBS
0.3%
Portfolio Composition as of 10/31/2023
21.7%
6.2%
19.5%
18.0%
9.0%
12.3%
13.3%
20.0%
4.4%
21.2%
14.9%
10.0%
12.1%
17.5%
0%
20%
40%
60%
80%
100%
Under 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years 5 Years and Over
Insurance Fund Maturity Distribution
October 31, 2023
July 31, 2023
Insurance Fund Portfolio
Notes:
1. End of quarter trade-date market values of portfolio holdings, including accrued interest.
2. Government MBS includes Freddie Mac, Fannie Mae, Ginnie Mae, and Small Business Administration MBS.
28
Security Type
1
October 31, 2023 % of Portfolio
July 31, 2023 % of Portfolio QoQ % Change
U.S. Treasuries
$5,206,858 88.8%
$5,216,248 88.7% 0.0%
Federal Agencies and Instrumentalities (non-MBS)
$462,742 7.9%
$461,198 7.8% 0.0%
Commercial Paper
$0 0.0%
$0 0.0% 0.0%
Municipal Obligations
$180,614 3.1%
$181,704 3.1% (0.0%)
Government MBS
$15,611 0.3%
$17,254 0.3% (0.0%)
Cash
$834 0.0%
$3,035 0.1% (0.0%)
Totals $5,866,659 100.0% $5,879,438 100.0%
AA+
80.4%
AA
5.0%
AAA
14.5%
A-1+ & A-1 (Short-
term)
0.1%
Credit Quality Distribution as of 10/31/2023
U.S. Treasuries
77.2%
Federal Agencies and
Instrumentalities (non-MBS)
14.5%
Municipal Obligations
7.5%
Government MBS
0.8%
Portfolio Composition as of 10/31/2023
9.7%
9.8%
18.3%
18.5%
8.2%
15.5%
20.0%
5.1%
8.2%
23.3%
14.8%
9.9%
16.3%
22.3%
0%
20%
40%
60%
80%
100%
Under 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years 5 Years and Over
BPCA OPEB Maturity Distribution
October 31, 2023
July 31, 2023
BPCA OPEB Portfolio
Notes:
1. End of quarter trade-date market values of portfolio holdings, including accrued interest.
2. Government MBS includes Freddie Mac, Fannie Mae, Ginnie Mae, and Small Business Administration MBS.
3. NR holdings are not rated by S&P, but rated by Moody’s and are in compliance with BPCA’s investment policy.
4. BPCPC Other Post Employment Benefits holdings were transferred and consolidated with BPCA Other Post Employment Benefits holdings on December 23, 2021
29
Security Type
1
October 31, 2023 % of Portfolio
July 31, 2023 % of Portfolio QoQ % Change
U.S. Treasuries
$30,792,426 77.2%
$30,999,731 77.2% (0.0%)
Federal Agencies and Instrumentalities (non-MBS)
$5,795,474 14.5%
$5,764,945 14.4% 0.2%
Commercial Paper
$0 0.0%
$0 0.0% 0.0%
Municipal Obligations
$2,996,336 7.5%
$3,005,140 7.5% 0.0%
Government MBS
$304,843 0.8%
$328,450 0.8% (0.1%)
Cash
$804 0.0%
$45,057 0.1% (0.1%)
Totals $39,889,882 100.0% $40,143,323 100.0%
Portfolios
Managed with a
Shorter-Term
Investment
Strategy
30
1.35%
1.35%
1.36%
1.36%
1.37%
1.37%
0.00 1.00 2.00 3.00 4.00 5.00
Return
Effective Duration (Years)
Quarter Total Return Comparison
(Period Ended 10/31/23)
1.15%
1.20%
1.25%
1.30%
1.35%
1.40%
10/31/2023 7/31/2023
Quarterly Return
Performance Comparison
Shorter-Term Investment Strategy
Notes:
1. Performance on trade-date basis, gross-of-fees in accordance with the CFA Institute’s Global Investment Performance Standards.
2. Bank of America/Merrill Lynch (BAML) indices provided by Bloomberg Financial Markets. The total returns shown for periods longer than a year are the annualized returns for the stated period.
3. Duration is the change in the value of a security that will result from a 1% change in interest rates, stated in years.
4. Periodic performance numbers are presented both as the periodic return and on an annualized basis. The annualized return assumes the periodic return is compounded at the same rate and is presented
for reference only. The actual annual return will be the result of chaining the most recent four quarterly returns.
5. Since inception performance is calculated from January 31, 2006 to present.
31
Annualized
Total Return
1,2,4,5
October 31, 2023
Since Inception
5
2003 Pledged Revenue
1.37%
1.38%
2003 Project Operating Fund
1.35%
1.38%
1.36%
1.33%
Effective Duration (in years)
3
October 31, 2023
July 31, 2023
2003 Pledged Revenue
0.04
0.17
2003 Project Operating Fund
0.00
0.00
0.22
0.15
BM: BAML 3 Month US Treasury Bill Index
BM: BAML 3-Month US Treasury Bill Index
100.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
100.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0%
20%
40%
60%
80%
100%
Under 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years 5 Years and Over
2003 Pledged Revenue Maturity Distribution
October 31, 2023
July 31, 2023
AA+
4.9%
A-1+ & A-1 (Short-
term)
95.1%
Credit Quality Distribution as of 10/31/2023
U.S. Treasuries
99.2%
Federal Agencies and
Instrumentalities (non-
MBS)
0.8%
Portfolio Composition as of 10/31/2023
2003 Pledged Revenue
Notes:
1. End of quarter trade-date market values of portfolio holdings, including accrued interest.
2. Government MBS includes Freddie Mac, Fannie Mae, Ginnie Mae, and Small Business Administration MBS.
32
Security Type
1
October 31, 2023 % of Portfolio
July 31, 2023 % of Portfolio QoQ % Change
U.S. Treasuries
$204,219,521 99.2%
$184,985,923 99.0% 0.2%
Federal Agencies and Instrumentalities (non-MBS)
$1,646,289 0.8%
$1,623,271 0.9% (0.1%)
Commercial Paper
$0 0.0%
$0 0.0% 0.0%
Municipal Obligations
$0 0.0%
$0 0.0% 0.0%
Government MBS
$0 0.0%
$0 0.0% 0.0%
Cash
$626 0.0%
$200,856 0.1% (0.1%)
Totals $205,866,435 100.0% $186,810,051 100.0%
2003 Project Operating Fund Portfolio
Notes:
1. End of quarter trade-date market values of portfolio holdings, including accrued interest.
2. Government MBS includes Freddie Mac, Fannie Mae, Ginnie Mae, and Small Business Administration MBS.
U.S. Treasuries
100%
Portfolio Composition
as of 10/31/23
A-1+ & A-1
(Short-term)
100.0%
Credit Quality Distribution
as of 10/31/23
33
Security Type
1
October 31, 2023 % of Portfolio
July 31, 2023 % of Portfolio QoQ % Change
U.S. Treasuries
$10,892,097 100.0%
$10,961,233 100.0% (0.0%)
Federal Agencies and Instrumentalities (non-MBS)
$0 0.0%
$0 0.0% 0.0%
Commercial Paper
$0 0.0%
$0 0.0% 0.0%
Municipal Obligations
$0 0.0%
$0 0.0% 0.0%
Government MBS
$0 0.0%
$0 0.0% 0.0%
Cash
$989 0.0%
$399 0.0% 0.0%
Totals $10,893,086 100.0% $10,961,633 100.0%
100.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
100.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0%
20%
40%
60%
80%
100%
Under 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years 5 Years and Over
2003 Project Operating Fund Portfolio Maturity Distribution
October 31, 2023
July 31, 2023
IV. Market
Commentary
34
For the Quarter Ended October 31, 2023
Fixed Income Management
QUARTERLY MARKET SUMMARY
35
Summary
►
The third quarter was characterizedby the consumer continuing to spend, supported
by rising wages and a strong labor market. The potential for additional monetary policy
tightening by the Federal Reserve (Fed) remains possible in light of the Fed’s projections
for stronger gross domestic product (GDP) growth, higher inflation,and slightly lower
unemployment for the balance of the year. As interest rates climbed to recent highs,
equity markets declined from calendar year highs and modest de-risking swept markets
near quarter-end.
►
After initially showing signs of cooling in July, U.S. inflation (as measured by CPI)
posted two straight large monthly increases in August and September, rising by 0.6% and
0.4% month-over-month (MoM) respectively. TheAugust reading was the biggest monthly
increase of 2023 as higher shelter costs and rising energy prices fed much of the gain.
Core inflation, which excludes food and energy, continues to moderate, rising 4.1% year-
over-year, down from 4.3% in August and 4.7% in July.
►
The Fed met twice during Q3, increasing the target rate 25 basis points (bps) in
July to a new range of 5.25% to 5.50% while holding that range steady following the
September meeting. Despite the pause in September, the post-meetingdot plot
projections dominated headlines as calendar year end 2024 and 2025 median rate
expectations were adjusted higher by 50 bps each, highlighting the reality of a potentially
“higher for much longer” interest rate environment.
►
Equity markets declined off their intra-quarter and year-to-date (YTD) highs largely in
response to the increased outlook for an extended period of higher yields. The S&P 500
Index closed the quarter down 3.3%, although YTD is still up over 13%.
Economic Snapshot
►
Real GDP increased at an annual rate of 2.1% in Q2 2023. Although slightly slower
than the Q1 2023 final release of 2.2%, Q2 growth was much higher than originally
expected in July and as a result caused the Fed to double their growth projections for
calendar year 2023 to 2.1% from 1.0% three months ago.
►
Consumer spending was revised significantly lower to a 0.8% annualized rate, down
from the 1.7% in the previous estimate. Stronger business fixed investment helped offset
the slowdown in consumer spending, buoying the headline GDP figure. The consumer’s
ability to continue to carry the economy remains the center of attention as headwinds
begin to mount, including higher prices at the pump, increasing shelter costs, slowing
wage growth, the depletion of additional savings accumulatedduring the pandemic, and
the looming reinstatement of student
loan payments.
►
A strong U.S. labor market remains a tailwind to economic growth and consumer
outlooks. Over the quarter, the U.S. economy added 799,000 new jobs, besting the Q2
rate of 603,000 while remainingwell above the pre-COVID pace. The unemployment rate
(3.8%) remains near all-time lows and the labor force participationrate also trended
upward and is now at the highest level since
the pandemic.
Interest Rates
► U.S. Treasury yields increased across the entire curve during Q3, with most
tenors closing the quarter at multi-decade highs. Whilethe yield curve still remains
deeply inverted due to yields on the front end reacting to several quarters of Fed
rate increases, more recent yield increases have been led by longer maturities.
► Over the quarter, the yield on a 2-, 10-, and 30-year U.S. Treasury security
increased 15 bps, 73 bps, and 84 bps, respectively, while the yield on a 3-month
U.S. Treasury Bill increased only 5 bps. The increase in the 30-year yield marked
the largest quarterly increase in more than 14 years. Along with the steepening
of the curve, the inversion of the yield curve became less severe by quarter-end.
After reaching a low of -108 bps in early July, the yield differencebetween the 2-
and 10-year U.S. Treasury yield closed the quarter at -47 bps.
► As a result of higher absolute yields on longer-maturity tenors, U.S. Treasury
indexes with durations greater than three years posted negative total returns in
Q3. The ICE BofA5-, 10-, and 30-year U.S. Treasury indices returned -1.26%,
-5.15%, and -12.75% respectively. On the flipside, along with relatively muted rate
increases over the quarter, short-durationindices posted positive total returns, as
higher income more than offset negative price impacts. The ICE BofA3-month,
1 , and 2-year U.S. Treasury indexes returned +1.31, +1.21%, and +0.54%
respectively.
Sector Performance
► Diversification away from U.S. Treasury securities was generally additive to
fixed- income performanceduring Q3 as spreads across most sectors tightened
or remained relatively stable. Broadly, lower quality and longer duration securities
outperformedtheir higher quality and shorter-term counterparts.
►
Investment-grade(IG) corporates eked out positive excess returns for the
quarter as modest spread widening was offset by higher incrementalincome,
underscoring the attractive total return attributes of the sector in the current
environment.Even with sector spreads widening, higher yields and elevated
income in the sector helped offset those negative price returns. Financial issuers
and lower-rated credit issuers outperformedtheir industrial and higher-quality
counterparts notably during Q3 as lingering spread tightening continued from mid-
March wides.
►
AAA-rated asset-backed securities (ABS) performed exceedingly well in Q3 as
spreads tightened marginally over the quarter on strong consumer sentiment and
robust investor appetite for the sector.
For the Quarter Ended October 31, 2023
Fixed Income Management
QUARTERLY MARKET SUMMARY
Interest Rate Overview
U.S. Treasury Yields
LIBOR Rates
Change
over Year
Oct ‘22
Change over
Quarter
July ‘23Oct ‘23
Maturity
1.25%4.41%0.08%5.58%5.66%3-month
N/A5.19%N/AN/AN/A1-year
Change over
Year
Oct '22
Change over
Quarter
Jul '23Oct '23Maturity
1.40% 4.07% 0.05% 5.42% 5.47% 3-month
0.82% 4.64% 0.07% 5.39% 5.46% 1-year
0.60% 4.49% 0.21% 4.88% 5.09% 2-year
0.63% 4.23% 0.68% 4.18% 4.86% 5-year
0.88% 4.05% 0.97% 3.96% 4.93% 10-year
0.93% 4.17% 1.09% 4.01% 5.10% 30-year
36
0%
1%
2%
3%
4%
5%
6%
3-mo
1-yr
2-yr
3-yr
5-yr
7-yr
10-yr
30-yr
Yield
Maturity
U.S. Treasury Yield Curve
July 31, 2023 April 30, 2023 July 31, 2022
2.3%
2.8%
3.3%
3.8%
4.3%
4.8%
10/31/22 1/31/23 4/30/23 7/31/23 10/31/23
Yield
U.S. Treasury Note Yields
2-Year 5-Year 10-Year
0%
1%
2%
3%
4%
5%
6%
7%
3-mo
1-yr
2-yr
3-yr
5-yr
7-yr
10-yr
30-yr
Yield
Maturity
Yield Curves as of 10/31/23
U.S. Treasury Federal Agency Corporates, A Rated
Labor Market Latest Jul '23 Oct '22
Unemployment Rate Oct'23 3.9% 3.5% 3.7%
Change In Non-Farm Payrolls Oct'23 150,000 236,000 324,000
Average Hourly Earnings (YoY) Oct'23 4.1% 4.3% 4.9%
Personal Income (YoY) Sep'23 4.7% 4.9% 4.9%
Initial Jobless Claims (week) 11/18/23 209,000 227,000 204,000
Growth
Real GDP (QoQ SAAR) 2023Q3 4.9% 2.1% 2.7%
GDP Personal Consumption (QoQ SAAR) 2023Q3 4.0% 0.8% 1.6%
Retail Sales (YoY) Oct'23 2.5% 2.8% 8.8%
ISM Manufacturing Survey (month) Oct'23 46.7 46.4 50.0
Existing Home Sales SAAR (month) Oct'23 3.79 mil. 4.07 mil. 4.44 mil.
Inflation / Prices
Personal Consumption Expenditures (YoY) Sep'23 3.4% 3.4% 6.3%
Consumer Price Index (YoY) Oct'23 3.2% 3.2% 7.7%
Consumer Price Index Core (YoY) Oct'23 4.0% 4.7% 6.3%
Crude Oil Futures (WTI, per barrel) Oct 31 $81.02 $81.80 $86.53
Gold Futures (oz.) Oct 31 $1,994 $1,971 $1,641
20-000K
15-000K
10-000K
5-000K
0
5,000K
10,000K
3%
5%
7%
9%
Oct '20 Apr '21 Oct '21 Apr '22 Oct '22 Apr '23 Oct '23
Unemployment Rate (left) vs. Change in Nonfarm Payrolls (right)
Change In Non-Farm Payrolls Unemployment Rate
-10%
0%
10%
20%
30%
40%
Sep '20 Mar '21 Sep '21 Mar '22 Sep '22 Mar '23 Sep '23
Real GDP (QoQ)
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Oct '20 Apr '21 Oct '21 Apr '22 Oct '22 Apr '23 Oct '23
Consumer Price Index
CPI (YoY) Core CPI (YoY)
2
2
1
1
For the Quarter Ended October 31, 2023
Fixed Income Management
QUARTERLY MARKET SUMMARY
2. Data as of Second Quarter 20231. Data as of Third Quarter 2023
Note: YoY = year over year, QoQ = quarter over quarter, SAAR = seasonally adjusted annual
rate, WTI = West Texas Intermediate crude oil
37
For the Quarter Ended October 31, 2023
Fixed Income Management
QUARTERLY MARKET SUMMARY
ICE BofAML Index Returns
38
October 31, 2023 Duration Yield 3 Month 1 Year 3 Years
1-3 Year Indices
U.S. Treasury
1.81 5.14% 0.72% 2.92% (0.71%)
Federal Agency
1.68 5.28% 0.90% 3.46% (0.53%)
U.S. Corporates, A-AAA rated
1.85 5.97% 0.43% 4.07% (0.33%)
Agency MBS (0 to 3 years)
1.90 5.73% 0.67% 3.68% (1.69%)
Taxable Municipals
1.62 5.58% 0.90% 4.18% 0.54%
1-5 Year Indices
U.S. Treasury
2.55 5.04% 0.03% 2.43% (1.68%)
Federal Agency
2.00 5.24% 0.60% 3.27% (1.27%)
U.S. Corporates, A-AAA rated
2.62 5.44% (3.75%) (7.82%) (0.98%)
Agency MBS (0 to 5 years)
3.33 5.70% (1.10%) 2.42% (2.78%)
Taxable Municipals
2.38 5.57% 0.13% 4.07% (0.67%)
Master Indices (Maturities 1 Year or Greater)
U.S. Treasury
5.94 5.05% (4.23%) (0.85%) (6.19%)
Federal Agency
3.25 5.26% (0.77%) 2.52% (2.78%)
U.S. Corporates, A-AAA rated
6.42 6.12% (5.03%) 2.34% (5.72%)
Agency MBS (0 to 30 years)
5.88 6.07% (5.82%) (0.76%) (5.76%)
Taxable Municipals
8.72 6.01% (6.32%) 2.35% (6.39%)
Returns for periods greater than one year are annualized
Source: BofA Merrill Lynch Indices
Returns for Periods ended 10/31/2023As of 10/31/2023
Disclaimer
Investment advisory services are provided by PFM Asset Management LLC (“PFMAM”), an investment
adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp
Asset Management, Inc. (“USBAM”). USBAM is a subsidiary of U.S. Bank National Association (“U.S.
Bank”). U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for
and does not guarantee the products, services or performance of PFMAM. The information contained is
not an offer to purchase or sell any securities. Additional applicable regulatory information is available
upon request.
For more information regarding PFMAM’s services please visit www.pfmam.com.
Disclaimer
39
INDEPENDENT AUDITORS’ REPORT
The Members
Hugh L. Carey Battery Park City Authority
New York, NY
We have audited, in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States, the financial statements of the Hugh L. Carey
Battery Park City Authority (the “Authority”), which comprise the statement of net position (deficit) as of
October 31, 2023, and the related statements of revenues, expenses and changes in net position (deficit)
and cash flows for the year then ended, and the related notes to the financial statements, which
collectively comprise the Authority’s basic financial statements, and have issued our report thereon dated
January XX, 2024.
In connection with our audit, nothing came to our attention that caused us to believe that the Authority
failed to comply with the Authority’s investment guidelines and the State Comptroller’s investment
guidelines for public authorities, collectively referred to as the “Investment Guidelines,” insofar as they
relate to accounting matters. However, our audit was not directed primarily toward obtaining knowledge of
such noncompliance with the Investment Guidelines referred to above. Accordingly, had we performed
additional procedures, other matters may have come to our attention regarding the Authority’s
noncompliance with the Investment Guidelines, insofar as they relate to accounting matters.
This report is intended solely for the information of the Authority’s Audit and Finance Committee,
Members and management and the New York State Office of the State Comptroller, and is not intended
to be and should not be used by anyone other than these specified parties.
January XX, 2024
New York, NY
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3
HUGH L. CAREY BATTERY PARK CITY AUTHORITY
PROMPT PAYMENT REPORT FOR FISCAL YEAR
ENDED OCTOBER 31, 2023
Explanation of Prompt Payment Policy
TheHughL.CareyBatteryParkCityAuthority(the“Authority”)PromptPaymentPolicy
recitestherequirementsforpromptpaymenttocontractorspursuanttoSection2880ofthePublic
AuthoritiesLaw.
Types of Contracts
ThefollowingisanoutlineofcategoriesofcontractstheAuthorityhasenteredintoduring
thetwelvemonthperiodcoveredbythisreport.Alltypesandcategoriesofcontractsaresubjectto
thepromptpaymentpolicy.
a. Legal alllegalrelatedservicesperformed
b. ConstructionContracts goods and services purchased for the construction of
infrastructureorAuthorityProjects
c. OtherProcurement
Contracts all other contracts (consultants, vendors, etc.) related to the
acquisitionofgoodsorservicesofanykind
Prompt Payment Report
ForthetwelvemonthperiodendingOctober31,2023,therewereinterestchargesof$12,813.40,
downfrom$41,316.91in2022,owedtovendorsorcontractorson63invoices,downfrom122in
2022,forproductsand/orservicesprovidedtotheAuthority,assummarizedbelow.
Summary of Interest Charges under the Prompt Payment Policy
FiscalYearEndedOctober31,2023
Department
Penalty Amount* % of Penalty #Invoices
RealProperty
$8,972.76
70.0% 20
Legal
$2,780.64 21.7% 38
PublicAffairs
$771.07
6.0% 2
Finance
$263.48
2.1% 2
HumanResources
$25.45
0.2% 1
Total
$12,813.40 100.0% 63
* Source: Interest rate as determined by the Office of the NYS Comptroller
4
BATTERY PARK CITY AUTHORITY
PROMPT PAYMENT POLICY
Effective January 30, 2024
5
HUGH L. CAREY BATTERY PARK CITY AUTHORITY
PROMPT PAYMENT POLICY
Section9002.1
StatementofPolicyandPurpose.ThisPromptPaymentPolicyisadoptedpursuanttoSection
2880ofthePublicAuthoritiesLaw,requiringeachpublicbenefitcorporationtopromulgate
rules and regulations detailing its policy with respect to making prompt payment to
contractors.
Section9002.2
Definitions. For the purpose of this Part, the following terms shall have the following
meaningsunlessthecontextshallclearlyindicateotherwise:
(a) “Authority”shallmeantheHughL.CareyBatteryParkCityAuthority.
(b) “Contract” shall mean an enforceable agreement entered into by the Authority and a
Contractor, including purchase orders. Bond resolutions and any leases to which the
Authorityisaparty,includinganyleasesbetweentheAuthorityandanyofitstenantsor
subtenants,aswellasanyrelatedagreementswhichareanintegralpartofsuchleasesor
subleases,arenotContractswithinthemeaningofthisSection.
(c) “Contractor” shall mean any person, partnership, private corporation or association
providingorperforminganyofthefollowingpursuanttoaContract:
(i) Selling materials, equipment or supplies or leasing property or equipment to the
Authority;
(ii) constructing, reconstructing, rehabilitating or repairing buildings, streets or other
improvementsfororonbehalfoftheAuthority;or
(iii)renderingorprovidingservicestotheAuthoritypursuanttoacontract.
(d) “DesignatedPaymentOffice”shallmeanthatdepartmentwithintheAuthoritytowhicha
proper invoice is to be submitted by a Contractor; unless otherwise, specified, the
DesignatedPaymentOfficeshallbe:
OfficeoftheChiefFinancialOfficer
HughL.CareyBatteryParkCityAuthority
200LibertySt.,24thFloor
NewYork,NewYork102811097
Attention:AccountsPayable
6
(e) “PromptPayment”shallmeanpaymentofadebtdueandowingbytheAuthoritypursuant
toaContractbeforeinterestaccruesthereonpursuanttotheprovisionsofthisPart.
(f) “ProperInvoice”shallmeanawrittenrequestorinvoiceforcontractpaymentsettingforth
the description, price and quantity of goods, property or services provided by a
Contractor, such request or invoice being both in accordance with the terms of the
Contractandinsuchform,andsupportedbysuchothersubstantiatingdocumentation,as
theAuthoritymayreasonablyrequire.
(g) “ReceiptofaProperInvoice”shallmeaneither:
(i) ThedateonwhichaProperInvoiceisreceivedbytheDesignatedPaymentOfficeor
(ii) ThedateonwhichtheAuthorityreceivesthepurchasedgoods,propertyorservices
coveredbytheProperInvoice,whicheverislater.
(h) “Setoff”shallmeanthereductionbytheAuthorityofapaymentduetoaContractorbyan
amountequaltotheamountofanunpaidlegallyenforceabledebtowedbytheContractor
totheAuthority.
Section9002.3
Applicability.ThisPartshallapplytoallContractsenteredintoonorafterApril29,1988.
Section9002.4
(a)PaymentRequestProcedure.Contractors’owedmoneybytheAuthorityshalldelivera
ProperInvoicetotheDesignatedPaymentOffice.TheDesignatedPaymentOfficewilllog
thereceiptdateofeachinvoiceandsendittothedepartmentunitwithintheAuthoritythat
receivedthegoods,property,orservicesfromtheContractorforreviewandverificationof
theContractor’sperformanceinaccordancewiththeContract.ContractorswithContracts
whichprovideforpaymentatspecificdatesorintervalsshallalsoberequiredtoprovidea
ProperInvoicewhichcertifiesthattheobligationsrequiredundersuchContracthavebeen
performedpriortosuchdate(s)orduringsuchinterval(s)andreviewandverificationofthe
workoftheseContractorswilltakeplaceuponreceiptofsuchProperInvoice;payment
shallbemadeinaccordancewiththetermsofsuchContracts.
(b) PromptPaymentSchedule.ThescheduleofthetimeinwhichtheAuthoritywillmake
promptpaymentunderaContractisasfollows:
(i) ForinvoicesreceivedonorafterJuly1,1989,paymentwillbemadebytheAuthority
within30calendardays,excludinglegalholidays,afterReceiptofaProperInvoice.
(ii) ForContractswhichprovideforpaymentatoneormorespecificdatesorintervals,
paymentwillbemadeinaccordancewiththetermsofsuchContracts,butinterestshall
onlybepayableifpaymentisnotmadewithinthetimeprovidedasin(i)above.
7
(iii)Thisschedulewillnotapplyinthoseinstanceswherepaymentisbeingdelayedby
reasonofanyoftheexceptionslistedinSection9002.4(e)orwherethetimeinwhich
tomakepaymentisbeingtolledforanyofthereasonslistedinSection9002.4(f)
herein,inwhichcasesthetimeforpaymentshallbethereprovided.
(c) Interest Computation. If the Authority fails to make payment in accordance with the
promptpaymentschedulesetforthin Section 9002.4(b) above, theAuthoritywillpay
interesttotheaffectedContractorattherateequaltothatsetbytheStateTaxCommission
forcorporatetaxespursuanttoSection1096(e)oftheTaxLaw.
(d) FundsAvailabletoPayInterestPenalties.TheAuthoritywillpayinterestasprovided
hereinwithmoniesavailabletotheAuthorityforoperatingandadministrativeexpenses
pursuanttoitsapprovedbudget.
(e) Extension of Payment Time. Any of the following facts, conditions or situations are
determinedbytheAuthoritytobeexceptionstothepromptpaymentschedulesetforthin
Section9002.4(b)andtojustifyextensionsofthetimebywhichpaymentmustbemade
(theamountoftimeofsuchextensionbeingasestablishedbytheAuthority’sTreasurer
consistentwiththisPart,withnoticeprovidedtotheContractor):
(i) Statutory or Contract provisions requiring an inspection period or an audit prior to
payment;
(ii) Theabsenceofastateappropriationwhichisnecessarytoauthorizepayment;
(iii) A requirement for federal government examination of a Proper Invoice prior to
payment;
(iv) Extraordinarydelaybetweenthetimeoftheprovisionofgoods,propertyorservicesby
aContractorandthereceiptofaProperInvoicebytheAuthority;
(v) FailurebyaContractortosubmitdocumentsrequiredbytheContractorreasonably
requiredbytheAuthoritypriortopayment;
(vi) Where time is taken in the processing of an invoice by the State Department of
Taxation and Finance, the State Division of the Budget, the Office of the State
Comptroller,oranyotherentityexternaltotheAuthoritythatisormayberequiredby
statute,regulationorContracttoapproveorprocessAuthoritypayments.
8
(f) DefectsorImproprieties.Thefollowingfactsorconditionstollthe
promptpaymentschedulesetforthinSection9002.4(b):
(i) AreasonablebeliefbytheAuthorityintheexistenceofanydefects(s),includingany
incompletenessorfailureof compliance with the termsoftheContract,inor with
respecttothegoods,propertyorservicesdelivered;
(ii) AreasonablebeliefbytheAuthorityintheexistenceofanydefect(s)intheinvoice;or
(iii) AreasonablebeliefbytheAuthorityinsuspectedimproprietyofanykind.
Inordertotollthepromptpaymentschedulewithoutpenalty,theAuthorityhasfifteen
calendardaysafterreceiptofaninvoicetosendaContractornotificationofsuchdefects
orimproprieties.AuthoritynotificationshallbebylettertotheContractor,settingforth
any such defect or impropriety in reasonable detail, sent to the address indicated for
noticesundertheContractor,ifnosuchaddressisprovided,senttotheaddresssetforthin
theinvoiceprovidedthat,intheeventthattheAuthorityfailstosonotifytheContractor
withinsuchfifteendays,thesoleeffectofsuchfailuretosonotifytheContractorshallbe
thatthe number of days allowedfor payment shall be reduced bythe number of days
betweensuchfifteenthdayandthedateoftheAuthority’stransmittingsuchnotifications.
IntheeventthattheAuthorityfailstoprovidereasonablegroundsforitscontentionthat
anysuchdefectorimproprietyexists,thedatebywhichContractpaymentshallbemade
shallbecalculatedfromthedateofreceiptofaninvoice.
Section9002.5
(a) Annual Report. The Authority shall prepare an annual report on the scope and
implementation of this prompt payment policy. The report shall include, but not be
limitedto,thefollowing:
(i) AlistingofthetypesorcategoriesofcontractswhichtheAuthorityenteredintoduring
thetwelvemonthfiscal year coveredbythereportwithan indicationwhethereach
suchtypeorcategoryofcontractwassubjecttothispromptpaymentpolicy,andifit
wasnot,thereason(s)whynot;
(ii)Thenumberandamountofinterestpaymentsmadeforcontracts,arrangedaccording
toeachsuchtypeorcategory;
(iii)Thenumberofinterestchargeabledays,andthetotalnumberofdaystakentoprocess
eachlatecontractpayment;and
(iv)Asummaryoftheprincipalreasonswhysuchlatepaymentsoccurred.
(b) Withinninety(90)daysafterthecompletionofeachsuchfiscalyear,copiesofthisannual
report shall be filed with the State Comptroller, the State Director of the Budget, the
ChairmanoftheSenateFinanceCommitteeandtheChairmanoftheAssemblyWaysand
9
MeansCommittee.
(c) Copiesofitsannualreportshallbemadeavailabletothepublicuponreasonablerequestat
theAuthority’smainoffice.
Section9002.6
(a) Amendment. The Authority shall have the power to amend this Part by promulgating
amendedrulesandregulationsatanytime,andwithinthirtydaysoftheadoptionofany
suchamendmentshereto,theAuthorityshallfilecopieswiththeStateComptroller,the
State Director of the Budget, the Chairman of the Senate Finance Committee and the
ChairmanoftheAssemblyWaysandMeansCommittee.
(b) ContractIncorporation.ThepolicystatementineffectatthetimethataContractisentered
intoisherebyincorporatedintoandmadeapartofthatContract.
(c) PublicAccess.TheAuthorityshallmakecopiesofthispolicystatementavailabletothe
publicuponreasonablerequestattheAuthority’smainoffice.TheAuthorityshallalso
provideacopyofthispolicystatementtoeachContractoratorpriortothetimeaContract
isenteredinto.
(d) Inapplicability.ThispolicyisnotapplicabletopaymentsdueandowingbytheAuthority
toany other governmental entity,agency, public benefit corporation or the employees
thereofwhenactinginorincidentaltotheirpublicemploymentcapacity,tointereston
judgmentsrenderedbyacourtagainsttheAuthoritypursuanttoanyotherprovisionof
law,ortosituationswheretheAuthorityexercisesalegallyauthorizedSetoffagainstall
orpartofapaymentdueaContractor.
(e) LegalProcesses.TheAuthorityisundernoliabilitytopayinterestpursuanttothispolicy
foranyperiodafteraContractorhasfiledaclaim,givennoticeofanintentiontofilea
claimorcommencedlegalactionseekinganypaymentofinterest;interestduringsuch
periodshallonlybepaidasdirectedbythecourtinaccordancewithsuchotherprovisions
oflawasmaybeapplicable.
(f) Interpretation.ThisPartshallbeinterpretedconsistentwithandtofulfillthepurposesof
Section2880ofthePublicAuthorityLaw.
1
PROCUREMENT GUIDELINES
2024
2
Table of Contents
Contents
1. Definitions ............................................................................................................................................ 4
2. General Application ............................................................................................................................ 9
2.1 Introduction and Purpose ................................................................................................................ 9
2.2 Application .................................................................................................................................. 9
2.3 Administration of the Guidelines .................................................................................................... 9
2.4 Procurement Sources ........................................................................................................................ 9
2.4.1 Preferred Source Offerings ..................................................................................................... 10
2.4.2 Centralized Contracts .............................................................................................................. 10
2.4.3 Established New York State Agency Contracts .................................................................... 10
2.5 Minority and Women-Owned Business Enterprises and Service-Disabled Veteran-Owned
Business Enterprises ......................................................................................................................... 11
2.6 The Promotion of New York State Business Enterprises and Residents ............................... 12
3. General Requirements .......................................................................................................................... 13
3.1 Advertising Procurement Opportunities ...................................................................................... 13
3.2 Reserved Rights ............................................................................................................................... 13
3.3 Restrictions on Contact during the Procurement Period ............................................................ 14
3.4 Determination of Vendor Responsibility ...................................................................................... 14
3.5 Third Party Rights; Effect on Awarded Contracts ...................................................................... 15
3.6 Pre-Qualification of Vendors for Services .................................................................................... 15
3.7 Limitations on Contracts Involving Former Officers and Employees ....................................... 15
3.8 Cancellation of a Solicitation ......................................................................................................... 15
3. 9 “Green” Purchasing ...................................................................................................................... 16
4. Solicitation Processes ........................................................................................................................ 17
4.1 Introduction ..................................................................................................................................... 17
4.2 Procurement Methods .................................................................................................................... 17
4.2.1 Discretionary Procurements ................................................................................................... 17
4.2.2 Non-Discretionary Procurement Methods ................................................................................. 18
4.3 Competitive Procurement Methods .............................................................................................. 19
4.3.1 Requests for Proposals............................................................................................................. 19
4.3.2 Invitation for Bids ........................................................................................................................ 19
4.4 Pre-Procurement Methods ............................................................................................................. 20
4.4.1 Requests for Expression of Interest ............................................................................................ 20
3
4.4.2 Requests for Information ............................................................................................................ 20
4.5 Distribution of Solicitations and Receipt of Bids ......................................................................... 21
4.5.1 Advertisement of the Solicitation ............................................................................................ 21
4.5.2 Distribution of the Solicitation ................................................................................................ 21
4.5.3 Receipt of Bids .......................................................................................................................... 21
4.6 Award Based on Lowest Bidder .................................................................................................... 22
4.7 Award Based on Best Value ........................................................................................................... 23
4.7.1 Evaluation Team .......................................................................................................................... 23
4.7.2 Conducting the Evaluation.......................................................................................................... 23
4.7.3 Evaluation Criteria Best Practices ......................................................................................... 23
4.7.4 Assignment of Values to Evaluation Criteria ........................................................................ 23
4.7.5 The Evaluation Instrument ..................................................................................................... 24
4.7.6 Scoring Methodology ............................................................................................................... 24
4.7.7 Request for Best and Final Offer ................................................................................................ 25
4.7.8 Determining the Best Value Bidder ............................................................................................ 25
4.8 Award Based on Single Bid ............................................................................................................ 25
4.9 Selection ........................................................................................................................................... 25
4.10 Letters of Intent ............................................................................................................................ 26
4.11 Notification of Award ................................................................................................................... 26
4.12 Post-Award Advertisement .......................................................................................................... 26
5. Approvals ............................................................................................................................................... 27
5.1 Commencing the Approval Process .............................................................................................. 27
5.2 Required Procurement Approvals ................................................................................................ 27
5.2.1 Board Approval for Contracts ................................................................................................ 28
5.3 Contract Amendment Approvals .................................................................................................. 28
5.3.1 Board Approval for Contract Amendments .......................................................................... 28
5.3.2 Amendment Presidential Approvals ...................................................................................... 28
5.3.3 Diversity Amendment Review .................................................................................................... 28
5.4 Contracts Requiring OSC Approval ............................................................................................. 29
5.6 Designation of Approval Authority ............................................................................................... 29
5.7 Reporting ......................................................................................................................................... 29
5.8 Final Contract Approvals............................................................................................................... 29
5.9 Monitoring of Procurement Contracts ......................................................................................... 30
6. Effect on Awarded Contracts............................................................................................................... 30
4
1. Definitions
• “Amendment” shall mean any material change to a duly executed Procurement Contract,
including change orders.
• “Authority” shall mean the Hugh L. Carey Battery Park City Authority.
• “Bid” shall mean an offer or Proposal submitted by a Bidder to provide a specified
Commodity at a stated price or Services at a stated price for an approved term.
• “Bid Log” shall mean a log maintained by the Chief Contracting Officer (“CCO”)
documenting when physical bids are received, secured, and distributed.
• “Bid Opening” shall mean the opening of sealed Bids, in the presence of one or more
witnesses.
• “Bidder” shall mean any individual, business, Vendor or other legal entity, or any employee,
agent, consultant or person acting on behalf thereof, that submits a Bid in response to a
Solicitation.
• “Board” shall mean the Authority’s Board as described in Public Authorities Law, Chapter
43-A, Article 8, §1973.
• “Centralized Contract” shall mean Procurement Contracts let by other public entities
pursuant to a competitive process, including those contracts of the State of New York (e.g.,
New York State Office of General Services (“OGS”)) and the United States General Services
Administration (“GSA”).
• “Commodity” shall mean a material good, supply, product, construction item or standard
article of commerce that is the subject of any purchase or exchange. For the avoidance of
doubt, any Commodity that also includes, at no specifically mentioned additional charge, a
warranty and technical support for using the Commodity as is shall be considered a
Commodity.
• “Competitive Procurement Method” shall mean a formal solicitation detailing the needs and
requirements of the Authority with the intent of receiving Bids from interested Bidders
within a prescribed time period. Types of Competitive Procurement Methods include, but
may not be limited to, requests for proposals (“RFP”) and invitations for Bids (“IFB”).
• “Contacts” shall mean any oral, written or electronic communication with a governmental
entity under circumstances where a reasonable person would infer that the communication
was intended to influence the governmental entity's conduct or decision regarding the
governmental procurement.
5
• “Contract Term” shall mean the period of time given for performance under a Procurement
Contract, as may be amended from time to time with the approval of the Authority.
• “Contractor” shall mean a person or organization that enters into a Procurement Contract
with the Authority.
• “Cost Proposal” shall mean the part of any Bid that sets forth the price for which the Bidder
is offering to provide the Authority with the Services/Commodities described in a
Solicitation.
• “Department Head” shall mean the President, General Counsel, Chief Financial Officer,
Chief Operating Officer, Vice President of Real Property, Chief Human Resources Officer,
Vice President of Parks Operations, Vice President of Administration, Vice President of
Communications and Public Affairs, Vice President of Parks Programming and Community
Operations, and such other individuals as designated by the President.
• “Designated Contact” shall mean the person or persons designated to receive Bids, and, if
necessary, to communicate with Bidders during the Restricted Period.
• “Discretionary Procurement” shall mean a purchase either i) in an amount not to exceed
$50,000, or ii) made from New York State Small Business Concerns, SDVOBs, or MWBEs,
or for recycled or remanufactured Commodities or technology, in an amount not exceeding
$500,000.
• “Diversity Practices” shall mean a potential vendor’s past, present, and prospective practices
with respect to 1) utilizing minority or women owned business enterprises and service-
disabled veteran owned business certified by State agencies and other public or private
entities, 2) entering into joint ventures and other arrangements with certified minority and
women owned business enterprises, and 3) any other information requested by the Authority
as part of a Procurement, supported by affidavit, that demonstrates the potential vendor’s
commitment to a policy of diversity practices related to minority-or women owned business
enterprises and service-disabled veteran owned business.
• “Emergency Circumstances” exist when an urgent and unexpected condition arises that
threatens to significantly disrupt the Authority’s operations, disrupt or delay a project, or
create or perpetuate an unsafe condition or environment. Poor or late planning does not
constitute an Emergency Circumstance.
• “Final Award” shall mean the full execution of a Procurement Contract with a selected
Vendor.
• “Foreign Business Enterprise” shall mean a business enterprise, including a sole
proprietorship, partnership or corporation, which offers for sale, lease or other form of
exchange, goods which are sought by the corporation and which are substantially produced
outside New York State, or services, other than construction services, sought by the
corporation which are substantially performed outside New York State. For purposes of
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construction services, Foreign Business Enterprise shall mean a business enterprise,
including a sole proprietorship, partnership or corporation, which has its principal place of
business outside New York State.
• “Form, Function and Utility” shall mean the minimum essential requirements that will meet
the Authority’s needs. Requirements may include quality, quantity, delivery terms,
packaging, performance standards, and compatibility, among others.
• “Guidelines” shall mean the Authority’s Procurement guidelines as delineated herein.
• “Invitation for Bid” (“IFB”) shall mean a competitive Solicitation seeking Bids for a
specified Commodity, pursuant to which award is made to the responsible Bidder(s)
submitting the lowest price.
• “Minority and/or Women Owned Business Enterprise” shall mean any business enterprise,
including a sole proprietorship, partnership or corporation that has been certified as a
Minority and/or Women Owned Business Enterprise (“MWBE”) by the Minority and
Women Owned Business Division of the New York State Department of Economic
Development/Empire State Development (the “Division”) pursuant to §314 of New York
State Executive Law Article 15-A (“Article 15A”) and related regulations.
• “New York State Business Enterprise” shall mean a business enterprise, including a sole
proprietorship, partnership, or corporation, which offers for sale or lease or other form of
exchange, goods that are sought by the Authority and that are substantially manufactured,
produced or assembled in New York State, or Services that are sought by the Authority and
that are substantially performed within New York State.
• “Original Value” shall mean the value of a Procurement Contract at the time of its execution,
exclusive of any subsequent Amendment(s).
• “President” shall mean the President and Chief Executive Officer of the Authority.
• “Procurement” shall mean the purchase or acquisition of Commodities or Services that,
actually or by estimation, total $5,000 or more. Any purchase under $5,000 shall constitute a
Procurement, however, where the Authority has purchased or intends to purchase
substantially similar Commodities or Services from the same Vendor within the same fiscal
year and the aggregate value of such purchases exceeds $5,000. Procurements shall not
include: payments required by law; Revenue Contracts; compliance obligations; insurance or
utility payments; payments required by existing Contracts or other agreements (e.g. payment
to City, State, or Federal governmental entities); payments to credit rating agencies;
memberships in industry groups, professional societies and similar cooperative associations;
any cooperative projects or Procurement activities conducted or sponsored by such
organizations in which the Authority participates; Sponsorships of Eligible Organizations
(governed by standalone policy); direct purchase of advertising; tuition, fees for employees’
attendance at conferences, seminars, and other comparable activities; employee
transportation or other travel related expenses; rent and leases for facilities, equipment or
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other real property.
• “Procurement Contract” shall mean any written agreement for the acquisition of
Commodities or Services of any kind in the actual or estimated amount of five thousand
dollars ($5,000) or more.
• “Proposal” shall mean a Bid received by the Authority in response to a Solicitation.
• “Purchase Order” shall mean a document evidencing the procurement of a Commodity where
a Contract is not required but such Procurement is subject to these Guidelines.
• “Reasonable” price means a fair market price based on normal competitive conditions and
not necessarily the lowest possible price. Reasonableness of price can be documented in
several different ways, including but not limited to: (i) Obtaining informal quotes (e.g.,
telephone or written), from at least three vendors if possible; (ii) Comparing costs of the
same goods or services provided to other governmental entities; or (iii) Making historical
cost or price comparisons.
• “Restricted Period” shall mean the period from the date of the earliest notice of intent to
solicit Bids through the date of the Final Award, and, if applicable, approval of the contract
by the Office of the State Comptroller.
• “Revenue Contract” shall mean a binding agreement between a governmental entity and
another party that defines the terms under which revenue will be received by the
governmental entity.
• “Requests for Expression of Interest” or “RFEI” shall mean requests generally submitted to
the contracting community in order to gauge the interest and capabilities of prospective
Vendors for a particular project in order to help inform the development of an RFP or IFB.
• “Request for Information” or “RFI” shall mean a request released by the Authority in order
to gather information about types of Commodities or Services that may be available to
address a particular need and to assist the Authority in drafting specifications to provide the
best solution to meet that need.
• “Request for Proposal” or “RFP” shall mean a Competitive Procurement Method by which
the Authority solicits and evaluates proposals against stated selection criteria based on
characteristic such as quality of proposal, cost and delivery schedule, where a final award is
determined based on the determination that a proposal provides the best overall value to the
Authority.
• “Services” shall mean duty or labor to be rendered by a person or entity.
• “Service-disabled Veteran Owned Business Enterprise” or “SDVOB” shall mean a business
enterprise, including a sole proprietorship, limited liability company or corporation that has
been certified as a Service Disabled Veteran Owned Business by the Division of Service-
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Disabled Veterans’ Business Development at OGS pursuant to §369 of the New York
Executive Law (“Article 17-B”) and related regulations.
• “Single Source” shall mean the required goods or services are available from two or more
vendors, but a compelling reason exists to make the award to particular vendor. Some
reasons include, but are not limited to: (i) one particular Vendor has unique knowledge or
expertise with respect to the required service, good or material rendering the use of
competitive procedures impractical; (ii) there is a continuing need for existing Services to
provide continuity to the orderly development and fiscal management of a project; or (iii)
other material or substantial reasons exist for awarding the contract on other than a
competitive basis. For the avoidance of doubt, Vendors procured for live musical or artistic
performances and trainings shall be considered Single Source. Any justification of a Single
Source Procurement must include information about the alternatives considered and
justification that price is reasonable. In general, BPCA’s policy is to minimize the use of
Single Source Procurements and to maximize the use of competitive procurement methods.
• “Sole Source” shall mean only one Vendor is capable of supplying the required Commodities
or Services. Three examples of sole source procurements are: (i) proprietary software
compatible with BPCA operating systems that no one else offers; (ii) a printer’s warranty
requiring that only a toner cartridge supplied by the manufacturer could be used without
voiding the warranty; (iii) a Vendor has developed a proprietary system for providing a
service that is unavailable from anyone else.
• “Small Business Concern” shall mean a business enterprise which is resident in the state of
New York, independently owned and operated, not dominant in its field and employs one
hundred people or fewer. “Sole Source” shall mean only one Vendor is capable of supplying
the required Commodities or Services.
• “Solicitation” shall mean an oral or written invitation, issued by the Authority, for vendors to
submit Bids to provide the Commodities or Services described in such invitation.
• “Subject Matter Expert” shall mean an individual who possesses a high level of expertise in
the area that is subject to a particular Procurement, including but not limited to a software
engineer, a helpdesk support operative, an accounts manager, a roads engineer, a scientific
researcher.
• “Vendor” shall mean a person or organization that enters into a Procurement Contract with
the Authority.
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2. General Application
2.1 Introduction and Purpose
The purpose of these Guidelines is to facilitate the procurement needs of Battery Park City
Authority while protecting the interest of the State and City of New York and their taxpayers.
Procurement Contracts should be used to procure Commodities and Services needed to proceed
with Authority projects and to support the administrative needs of the Authority. The
Guidelines are intended to advance the mission of the Authority by using the best business
practices and best value when procuring goods and services. The Authority shall use its best
efforts to secure Bids from Vendors by using a Competitive Procurement Method, except as
otherwise provided in these Guidelines.
The applicable provisions of the Economic Development Law, Executive Law, Public
Authorities Law, and State Finance Law were considered in developing these Guidelines.
Any deviation from, or waiver of the requirements of, these Guidelines must be approved in
advance and in writing by the President.
2.2 Application
These Guidelines apply to all Procurements.
2.3 Administration of the Guidelines
The Chief Operating Officer (COO), in consultation with the General Counsel, is responsible for
ensuring that these Guidelines are followed by the Authority. The Authority must prepare and
the Board must approve the Guidelines annually. Any interim modifications to the Guidelines
must be approved by the Chief Operating Officer, the General Counsel, and the President. The
Chief Contracting Officer (CCO) is responsible for developing and maintaining standard
templates to be used in the Procurement process, as well as the records of all completed
Procurements and Procurements in process, including but not limited to:
• Checklist of required actions and components to ensure each Procurement complies with
these Guidelines;
• Bidder responsibility checklist;
• Requests for Proposals or other form(s) of Solicitation;
• Technical evaluation instruments, including the rating score sheet; and
• Approval Form in support of Procurements Valued Less than $50,000.
2.4 Procurement Sources
When initiating a Procurement, the Authority must first evaluate each of the potential sources
below as an option, where appropriate, in order of preference before proceeding to Discretionary
or Competitive Procurements as set forth in Sections 4.2 and 4.3 of these Guidelines:
• Preferred source offerings, as set forth in Section 2.4.1 of these Guidelines;
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• Centralized Contracts from OGS or GSA for Services, technology and commodities as set
forth in Section 2.4.2 of these Guidelines;
• Established New York State Agency Contracts as set forth in Section 2.4.3 of these
guidelines.
2.4.1 Preferred Source Offerings
The Authority must purchase Commodities from preferred sources in the following order, if
available:
• First: The Department of Correctional Services’ Correctional Industries Program; and
• Second: From the approved, charitable, non-profit making agencies for the blind.
With respect to Services, if more than one preferred source meets the Authority’s Form, Function
and Utility requirements, equal priority shall be accorded to the Services rendered and offered
for sale among the approved charitable, non-profit making agencies for the blind, other severely
disabled persons, qualified special employment programs for mentally ill persons, and qualified
veterans workshops. If more than one preferred source meets the Authority’s requirements, cost
shall be the determining factor.
Even if using a preferred source, an attempt to obtain competing quotes must be made and
documented in writing, and if applicable, the reason for selecting a preferred source that is not
the lowest Bidder should be documented.
2.4.2 Centralized Contracts
The Authority may utilize established OGS or GSA contracts for the purchase of Commodities,
Services or technology so long as such centralized contract meets the form, function and utility
for that Commodity, Service or technology required by the Authority. The Authority may utilize
centralized contracts by following the processes set forth in that contract or in the guidelines
specific to that contract located on the OGS website. The terms and conditions of a centralized
contract may not be amended, however the Authority may agree to supplemental terms with the
Vendor that are more favorable to the Authority, including but not necessarily limited to lower
pricing. In no situation may the Authority agree to higher pricing than that contained in the
centralized contract.
2.4.3 Established New York State Agency Contracts
Commodities or Services that are available through an already established, competitively
procured New York State Agency (or multi-Agency) contracts may be obtained by the Authority
through the use of a purchase order or purchase authorization in accordance with the Guidelines
and applicable law.
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2.5 Minority and Women-Owned Business Enterprises and Service-Disabled Veteran-
Owned Business Enterprises
In all Procurements, and in order to promote and assist participation by New York State Certified
Minority and Women- Owned Business Enterprises (MWBE) and Service-Disabled Veteran-
Owned Businesses (SDVOB), the Authority shall follow the relevant provisions of the New
York State Executive Law. Wherever reasonable and appropriate, the Authority shall maximize
participation by such enterprises and facilitate awarding New York State Certified MWBEs and
SDVOBs a fair share of awarded contracts.
The Authority shall:
• Conduct Procurements in a manner that will enable it to achieve the maximum feasible
portion of the Authority’s MWBE and SDVOB annual participation goals as set forth in
the Master Goal Plan for both programs on Procurement Contracts;
• Where practical, feasible and appropriate, include the Diversity Practices of Bidders in
the evaluation criteria for selecting a successful Vendor for a Procurement;
• Affirmatively promote and assist M/WBE and SDVOB participation in Procurement
Contracts;
• Assess all purchases for the possibility of MWBE and SDVOB participation;
• Set goals as appropriate pursuant to Article 15-A and 17-B of the NY State Executive
Law;
• Consult federal requirements regarding such opportunities and consult the most recent
disparity study available;
• Consider encouraging joint ventures and other teaming arrangements, as well as the
severability of bundled contracts, in each solicitation;
• As practicable, provide a current list of certified MWBEs and SDVOBs to prospective
Contractors; and
• Ensure that all required provisions are present in relevant contracts pursuant to Article
15-A, Article 17-B and promulgated regulations, and maintain a policy regarding
remedies in the event these terms are violated.
• The Authority shall appoint a Director of Diversity Contracting, who will promote and
assist in participation by such enterprises, utilization of such enterprises as prime
contractors, subcontractors and suppliers and the utilization of partnerships, joint ventures
or other similar arrangements between such enterprises and other Contractors.
Specifically, the Director of Diversity Contracting shall be responsible for:
o Familiarity with the Authority’s Procurement needs;
o Providing notice of opportunities to such enterprises and organizations that serve
such enterprises;
o Maintaining lists of such enterprises that are properly certified and updating such
lists regularly;
o Consulting lists of such enterprises maintained by the State’s Department of
Economic Development, Office of General Services, and other organizations for
potential MWBE and SDVOB firms;
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o Establishing goals for such enterprises’ participation and utilization as prime
contractors, subcontractors and suppliers under Procurement Contracts and
monitor the compliance of prime contractors with participation goals and contract
terms;
o Monitoring such enterprises’ participation and utilization in Procurement
Contracts to ensure utilization credit is being taken only for payments to New
York Certified firms performing a Commercially Useful Function as that term is
defined by the Division;
o Approval authority regarding diversity requirements for Contracts and invoices;
o Developing and maintaining standard templates to be used in the Procurement
process including but not limited to:
▪ Utilization Plans
▪ MWBE and SDVOB Goal Setting Documents
▪ Contractor Good Faith Effort Documentation
2.6 The Promotion of New York State Business Enterprises and Residents
In all Procurements, and in accordance with the State Finance Law Section 139(i), the Authority
shall promote the participation by New York State Business Enterprises and New York State
Residents in Procurement Contracts as follows:
• When applicable, the Authority shall, in consultation with OGS, consider the
specifications of New York State Business Enterprises in developing Solicitations for the
purchase of Commodities and shall utilize stock item specification forms prepared by
OGS.
• With the cooperation of the President and CEO of Empire State Development and
through cooperative efforts with Contractors, the Authority shall notify New York State
Business Enterprises of opportunities to participate as subcontractors and suppliers on
Procurement Contracts with a value estimated to be equal or greater than one million
dollars ($1,000,000) and the Authority shall promulgate procedures which will assure
compliance by Contractors with such notification as a condition of awarding Procurement
Contracts.
• Contractors shall, as supplementary materials to their Bids, document their efforts to
encourage the participation of New York State Business Enterprises as suppliers and
subcontractors on Procurement Contracts equal to or greater than one million dollars
($1,000,000) and attest to compliance with the Federal Equal Employment Opportunity
Act of 1972 (P.L. 92-261), as amended.
• The Authority, with the cooperation of the President and CEO of Empire State
Development and through cooperative efforts with Contractors, shall provide for the
notification of New York State Residents of employment opportunities arising out of
Procurement Contracts with a value estimated to be equal to or greater than one million
dollars ($1,000,000) and shall require Contractors to submit post-award compliance
reports documenting their efforts to provide such notification through listing any such
positions with the community services division of the Department of Labor, or providing
for such notification in such manner as is consistent with existing collective bargaining
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contracts or agreements.
o The Authority shall include in all Solicitations a statement that:
▪ Information concerning the availability of New York State contractors and
suppliers is available from Empire State Development, including the
directory of certified MWBEs.
▪ Information concerning the availability of New York State contractors and
suppliers is available from the New York State Office of Governmental
Services, including the directory of New York State Certified SDVOBs.
▪ Notifies potential Bidders located in foreign countries that the Authority
may assign or otherwise transfer offset credits created by a Procurement
Contract to third parties located in New York State.
▪ Informs potential Bidders that it is the policy of New York State to
encourage the use of New York State subcontractors and suppliers, and to
promote the participation of MWBEs and SDVOBs, where possible, in the
Procurement of Commodities and Services.
• The Authority shall notify the President and CEO of Empire State Development of the
award of a Procurement Contract for the purchase of Commodities or Services from a
Foreign Business Enterprise in an amount equal to or greater than one million dollars
($1,000,000) simultaneously with notifying the successful Bidder therefor.
3. General Requirements
3.1 Advertising Procurement Opportunities
The Authority must advertise a Procurement opportunity in the New York State Contract
Reporter when the actual or estimated amount of the Procurement is $50,000 or more, except for
Procurement Contracts being (i) awarded on an emergency basis or (ii) re-bid or re- solicited for
substantially the same Commodities or Services, within forty-five business days after the date
Bids were originally due. In addition, as a best practice, the Authority should also advertise its
Procurement opportunities in other sources such as trade publications, journals, and newspapers
when possible and appropriate, as well as the Authority website and mailing lists.
Advertisements shall provide prospective Bidders with an overview of the proposed
Procurement, including a brief description of the Commodities or Services sought, the contract
period, the Bid due date, the address where Bids are to be submitted, a description of any
eligibility or qualification requirement or preference and contact information.
3.2 Reserved Rights
Any published Solicitation should state the Authority’s reserved rights in the conduct of such Bid
process, including, where applicable, the right to:
• Reject any or all Bids received in response to the Solicitation;
• Withdraw the Solicitation at any time, at the Authority’s sole discretion;
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• Make an award under the Solicitation in whole or in part;
• Disqualify any Bidder whose conduct and/or Bid fails to conform to the requirements of
the Solicitation;
• Seek clarifications and/or revisions of the Bid or any part of the Bid;
• Use information obtained by the Authority through site visits; interviews; investigation of
a Bidder’s qualifications, experience, ability or financial standing; and any other material
or information provided by or received from the Bidder during the Bid process;
• Prior to the Bid Opening, direct Bidders to submit Bid modifications addressing
subsequent amendments to the Solicitation;
• Request that Bidders submit best and final offers subsequent to the Bid Opening;
• Change any of the scheduled dates;
• Waive any non-material requirements;
• Negotiate with the selected Bidder within the scope of the Solicitation and in the best
interests of the Authority;
• Conduct contract negotiations with another responsible Bidder if the Authority is unable
to finalize contractual terms with the first selected Bidder;
• Utilize any and all ideas submitted in the Bids received regardless of whether a Contract
is offered; and
• Require clarification at any time during the Procurement process and/or require
correction of arithmetic or other apparent errors for the purpose of assuring a full and
complete understanding of a Bid and/or to determine a Bidder’s compliance with the
requirements of the Solicitation.
3.3 Restrictions on Contact during the Procurement Period
For any procurement with an annualized expenditure in excess of $15,000, a Bidder is restricted
from making Contact during the Restricted Period to any person at the Authority other than the
Designated Contact or the Director of Diversity Contracting. Contact that is permitted during the
restricted period is set forth in State Finance Law §139-j (3)(a). Any Authority member, officer
or employee who becomes aware that a Bidder has made a Contact regarding the Procurement
during the Restricted Period shall immediately notify the CCO, or other designated official, of
such contact.
3.4 Determination of Vendor Responsibility
Pursuant to New York State Law, the Authority must make a determination that a Bidder is
responsible prior to awarding that Bidder a contract. The CCO, or their designee, are responsible
for deciding whether there are sufficient assurances to determine that the Bidder is responsible
based on factors enumerated in a Vendor responsibility checklist. The list includes, but is not
limited to, the Bidder’s:
• Financial and organizational capacity;
• Legal authority to do business in New York state;
• Integrity of the owners/officers/principals/members and contract managers;
• Past performance on prior government contracts; and
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• Compliance with the Procurement Lobbying Law and all material terms of the
Solicitation.
Before finding a Bidder non-responsible, the CCO shall provide the Bidder with the opportunity
to explain its position in writing, or, upon the Vice President of Administration’s discretion, in
person at a responsibility meeting. Any determination of non-responsibility shall be provided to
the Bidder in writing.
3.5 Third Party Rights; Effect on Awarded Contracts
These Guidelines are intended for the guidance of officers and employees of the Authority only,
and nothing contained herein is intended or shall be construed to confer on any Contractor,
Vendor, person, firm or corporation any right, remedy, claim or benefit under, or by reason of,
any requirement or provision hereof.
Nothing contained in these Guidelines shall be deemed to alter, affect the validity of, modify the
terms of or impair any contract or agreement made or entered into in violation of, or without
compliance with, these Guidelines.
3.6 Pre-Qualification of Vendors for Services
The Authority may, in accordance with these Guidelines, pre-qualify multiple Vendors to
provide Services to the Authority. The selections and use of Pre-Qualified Vendors shall be
governed by the Authority’s Policy on the Pre-Qualification of Vendors.
3.7 Limitations on Contracts Involving Former Officers and Employees
The Authority shall not enter into Procurement Contracts with former officers or employees, or
any entity employing such officers or employees, or any entity in which such officers or
employees have an interest, unless such contract would otherwise be compliant with the
Authority’s policies regarding conflicts of interest and the applicable provisions of law,
including the Public Officers Law.
3.8 Cancellation of a Solicitation
When, in the discretion of the Authority, a Solicitation fails to result in any satisfactory
responses and the Authority wishes to pursue other methods of procurement, it shall: a) notify
the public that the Solicitation is being cancelled; b) inform any Bidders via phone call (which
should be documented for the Procurement Record), letter or email of the cancellation; and c)
publish or post notice of the cancellation in each place that the Solicitation was published for no
less than two (2) weeks. If the decision is made to re-advertise the Solicitation, the project team
should scrutinize the initial Solicitation document to determine whether any restrictions can be
lifted or the document can otherwise be revised to produce better results.
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3. 9 “Green” Purchasing
To the extent practicable, the Authority shall endeavor to purchase Commodities that are
designed to minimize any adverse environmental impact on Battery Park City’s parks and the
greater public, including the waste generated in packaging and single use plastics. Pursuant to
section 4.3 of these Guidelines, Solicitations for Services shall include a request for a description
of the Bidder’s environmentally sustainable business practices or activities, to the extent
applicable. The Authority encourages procurements of commodities, services and technology
that at a minimum meet the approved green procurement specifications approved by the State.
For specifications and more information about Executive Order 4, visit the GreenNY website:
https://www.governor.ny.gov/executive-order/no-22-leading-example-directing-state-agencies-
adopt-sustainability-and.
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4. Solicitation Processes
4.1 Introduction
A Solicitation issued by the Authority shall describe the Services or Commodities the Authority
is seeking to procure. Each Solicitation shall clearly convey all the information needed for
potential Bidders to submit a complete and competitive Bid. Solicitations conducted via Request
for Proposals must be approved by the General Counsel’s Office.
Vendors that develop or draft specifications, requirements, statements of work, or requests for
bids or proposals for a project or a procurement must be excluded from competing in any
resulting procurement.
4.2 Procurement Methods
4.2.1 Discretionary Procurements
Discretionary Procurements do not require a Competitive Procurement. Before making a
Discretionary Procurement, however, the staff member initiating the Procurement must:
• Ensure that the Commodities and/or Services to be acquired meet the Authority’s Form,
Function and Utility needs;
• Consult with the Director of Diversity Contracting to identify any potential MWBE or
SDVOB Vendors;
• Make a reasonable attempt to obtain Cost Proposals from at least three different Vendors
capable of supplying the required Commodities and/or Services, including MWBE and/or
SDVOB Vendors to the extent possible;
• Document the attempt to obtain such quotes and the quotes received, and include such
information in the written justification required by Section 5.1, along with facts sufficient
to support the selection of the chosen Vendor, the reasonableness of the price to be paid,
and the effort of the staff member initiating the Procurement to include MWBE and
SDVOB firms in the solicitation; and
• Verify with the CCO that the selected Vendor is responsible.
Pursuant to Section 3.1, Discretionary Procurements must be advertised as a Procurement
opportunity in the New York State Contract Reporter when the actual or estimated amount of the
Discretionary Procurement is $50,000 or more.
In determining whether a purchase meets the required threshold amounts for a Discretionary
Procurement, the staff member initiating the Discretionary Procurement shall consider (and
document such consideration) the reasonably expected aggregate amount of all purchases of the
same Commodities or Services to be made within the fiscal year commencing on the date of
purchase. Purchases of Services or Commodities shall not be artificially divided for the purpose
of satisfying the thresholds required for a Discretionary Procurement. A change to or a renewal
of a discretionary purchase shall not be permitted if the change or renewal would bring the
reasonably expected aggregate amount of all purchases of the same commodities or services
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from the same provider within the twelve-month period commencing on the date of the first
purchase to an amount greater than the discretionary buying threshold amount.
4.2.2 Non-Discretionary Procurement Methods
The following types of Procurements are exempt from the requirement that a Competitive
Procurement method be used but must satisfy all other applicable requirements set forth in these
Guidelines:
• Sole Source - the Authority must document in writing the findings demonstrating that the
proposed Vendor is a Sole Source.
• Single Source - the Authority must document in writing the findings demonstrating that
the proposed Vendor is a Single Source.
• Emergency - the Department Head initiating the Procurement must first document in
writing and receive approval by the President that Emergency Circumstances exist. After
such approval is received, the Department Head, or their designee, shall make a
reasonable attempt to obtain quotes from at least three Vendors. Procurement Contracts
and Amendments entered into in response to an Emergency are exempt from the
requirement that they be fully executed and delivered by both parties prior to the
commencement of work. However, all Procurement Contracts and Amendments entered
into in response to an Emergency must subsequently be approved in the manner set forth
in Section 5. In the event the work necessitated by the Emergency is completed within
one week of the date the Emergency is documented and has a value of $25,000 or less,
the President may approve payment for the Vendor upon presentation of an invoice and
documentation from the Department Head that the work has been so completed. Except
as specifically provided in this paragraph, all contracts and Amendments involving
Emergency Circumstances shall be subject to these Guidelines.
• Piggybacking – The Authority may use a contract let by any department, agency or
instrumentality of the United States government and/or any department, agency, office,
political subdivision or instrumentality of any state or states (this type of procurement
referred to as “Piggybacking”) subject to an evaluation of the appropriateness of
piggybacking, including: (1) determination of the need for the product or services; (2)
consideration of the procurement method by which the contract to be piggybacked was
awarded; (3) an analysis of alternative procurement sources including why a competitive
procurement or use of a centralized contract is not in the Authority’s best interest; and (4)
reasonableness of the cost. The Authority’s evaluation of these factors and rationale for
using piggybacking should be set forth in the procurement record. While an amendment
to the piggybacked contract explicitly providing that piggybacking is permissible is not
required, the Authority should notify the original contracting agency and must obtain the
consent of the Vendor it wishes to enter into the piggyback agreement with. The
Authority may execute an independent contract based upon the equivalency of product or
services being procured and pricing contained in the original contract using the original
contract terms as may be supplemented by the Authority’s own requirements, as agreed
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to by the Authority and the Vendor.
Contracts awarded under this Section may be exempted from any advertising requirements prior
to award, however a reasonable attempt should be made wherever practicable to solicit at least
three competitive bids, with written confirmation of the bids furnished within a reasonable time
and maintained in the contract file. In the event any Single or Sole Source Contract awarded
hereunder exceeds $50,000, notice of the award shall be published in the Contract Reporter
pursuant to Economic Development Law §143(4). This publication requirement shall not be
deemed to apply to contract amendments.
4.3 Competitive Procurement Methods
In general, the Authority will award a Contract for Services resulting from an RFP to a selected
Contractor that is deemed to provide the best overall value to the Authority. In some instances
where the provision of Commodities is sought, an IFB may be more appropriate. In that case, the
Authority will make a determination based solely on which Vendor offers the Commodity at the
lowest price. In either case, Contracts may only be awarded to a responsive, responsible Vendor,
and all Solicitations for Competitive Procurements must describe the selection criteria to be used.
The CCO shall maintain templates, incorporating all relevant requirements set forth in these
Guidelines, to be used by the Authority for all written Solicitations. Solicitation templates may
differ for RFPs, which include weighted evaluation criteria, and IFBs, which will be awarded to
the responsive Bidder offering the lowest cost.
4.3.1 Requests for Proposals
All RFP’s must include the criteria to be used in evaluating Bids and how those criteria will be
weighted. Solicitations for Services should also include:
• Description of program objectives and background;
• Scope of Services to be provided;
• Detailed requirements and specifications;
• Required qualifications of a successful Vendor;
• Statement of non-collusion requiring proposers to certify that they have not colluded with
any other proposer(s) in their proposal;
• Any diversity requirements, including MWBE and SDVOB goals, if applicable; and
• Request for description of the Bidder’s environmentally sustainable business practices or
activities.
4.3.2 Invitation for Bids
IFBs are generally used for Solicitations for Commodities where the Authority desires to
purchase a specific item or product from the lowest-priced responsive and responsible Vendor.
Solicitation for Commodities should include product specifications in one of the following
manners:
20
• Make and Model or Equal – If the Procurement is not limited to a specific brand, the
Solicitation may use a brand name and model as a reference to describe requirements
such as functionality, style or capacity.
• Make and Model Specific - If the Procurement is limited to a specific brand, the
Solicitation should state that only Bids for the specified items and brands will be
considered, and that no substitutions will be considered where only one product(s) (i.e.,
specific brand(s)) meets the Authority’s needs.
• Technical Specifications - The Solicitation may describe the product, usually detailing
the physical components, method of assembly and, in some cases, chemical composition.
• Performance Specifications - The Solicitation may describe the performance standards
required for the product and/or service being procured, and the Bidder must ensure that
the product or service offered will meet the performance specifications.
Nothing in this section shall preclude the use of an RFP as a Solicitation for Commodities, in
which case the above criteria must be included in addition to the criteria set forth in section 4.3.1.
4.4 Pre-Procurement Methods
The following types of requests do not constitute Competitive Procurement Methods and should
be used before developing an RFP or IFB in situations where the Authority needs to obtain
additional information in order to inform its development of a formal solicitation.
4.4.1 Requests for Expression of Interest
The Authority may issue an RFEI as a tool to gather specific information from the contracting
community related to a particular project that has already been identified by the Authority.
RFEIs should contain a brief description of a project or Service which the Authority is
considering, but about which it does not have sufficient information to advertise an RFP or IFB.
RFEIs can be used in situations including, but not limited to:
• The Authority desires to obtain feedback on a particular idea or project from the
contracting community at large;
• The Authority desires to assess the market interest and viability of a specific project; or
• The Authority desires to identify a pool of potential Vendors to which it can ultimately
issue a specific IFB, RFP or other type of agreement such as a license agreement.
4.4.2 Requests for Information
The Authority may use an RFI as a preliminary information-gathering tool in order to assess the
market, identify potential suppliers and understand the capabilities and offerings of potential
Vendors. The RFI should be used to help inform an overall procurement strategy and identify
potential risks before issuing an RFP or IFB. RFIs can be used in situations including, but not
limited to:
• The Authority desires to obtain more information about products, services or suppliers;
• The Authority desires to understand supplier capabilities, experience and product(s); or
21
• The Authority desires to explore its available options and possibilities before proceeding
to a formal procurement.
4.5 Distribution of Solicitations and Receipt of Bids
Any Competitive Procurement Method utilized by the Authority must include the following
steps:
4.5.1 Advertisement of the Solicitation
The requirement to advertise Solicitations in the New York State Contract Reporter is discussed
in Chapter 3.
4.5.2 Distribution of the Solicitation
Once the Solicitation is finalized, the Authority shall make reasonable attempts to distribute the
Solicitation to all known potential Bidders and any Bidder that requests a copy as a result of the
advertisement. Each Solicitation must be posted to the Authority’s website and also may be
distributed via postal mail, e-mail, or other means. Solicitations should also be published in trade
publications related to the type(s) of Commodity or Services sought.
4.5.3 Receipt of Bids
As noted above, the Solicitation must state the date and time that Bids are due. Late Bids cannot
be accepted, except, upon written approval by the President, in extraordinary instances where a
public emergency prevented timely submission. Such exception must be documented in the
Procurement Record. The CCO must certify that Bids were received in accordance with the
terms of the Solicitation.
All Bids must be submitted in the manner specified in the RFP or Solicitation. Except where the
specific details of the project may render this impractical, electronic submissions are preferred
for all solicitations.
All physical Bids shall be received at one designated location at the Authority’s offices and,
immediately upon receipt, the envelope shall be stamped with the time and the date received.
Electronic Bids shall be submitted to separate email addresses for technical proposals and Cost
Proposals.
Any sealed physical copies of bids shall be locked immediately in a secure location. The Bid Log
of physical copies of any Bids received shall be maintained at the Authority’s reception desk.
Comments on the condition of the envelopes shall also be recorded in the Bid Log.
Pursuant to Section 4.7, Cost Proposals submitted separately from technical proposals will not be
provided to the Evaluation Committee for review until after the initial technical evaluation is
conducted by the Evaluation Committee.
22
4.5.4 Bid Openings
A Bid Opening shall occur after the due date and time for receipt of Bids set forth in the
Solicitation. All Bids shall be opened at the same Bid Opening.
During the Bid Opening, any physical Bids received shall be signed out in the Bid Log by the
person removing them. The Designated Contact shall have a pre-prepared list of Bid Opening
Attendees, which shall become part of the Procurement record for each Procurement Contract.
The Designated Contact, the project manager assigned to the project, and the CCO— or two of
these three—shall be present at each Bid Opening, at which time each Proposal shall be reviewed
for compliance with the minimum mandatory qualifications set forth in the RFP and for inclusion
of all required information and documentation. The compliance of each bid shall be documented
by the Designated Contact and such documentation added to the procurement record.
All Bids, including the time stamp and envelope, or shipping label from the shipping materials
for physical bids, shall be retained for a period no less than that prescribed by the Authority’s
Document Retention Guidelines.
4.6 Award Based on Lowest Bidder
In the case of an IFB issued for a Commodity where selection is based on the lowest price, upon
Bid Opening, the Authority shall:
• Ensure that the Bid is complete and accurate, including confirming that the Bidder
understood the specifications and can perform/deliver at the Bid price (particularly if
there is a large discrepancy between the low Bid and the second low Bid) and
ascertaining that all materials are submitted and appendices are signed;
• Verify that the low Bid is responsive by meeting all mandatory requirements and
specifications of the IFB and that the Bidder is responsible. In the event the Authority
determines that the low Bid is not responsive or that the Bidder is not responsible, then
the Bid should be rejected and the Authority should review the next low Bid for
responsiveness/responsibility. Notice should be given to any Bidder that is being rejected
for non-responsiveness or non-responsibility.
• In the event of tie Bids where all offers are found to be substantially equivalent, including
price, the Authority President shall make the final determination to award the Contract to
one or more Bidders. The basis for such determination shall be documented in the
Procurement Record.
Upon identification and verification of the lowest responsible and responsive Bidder, the
Authority shall award the Contract in accordance with the method of award in the IFB subject to
first obtaining all necessary approvals set forth in Section 5 of these Guidelines. All supporting
documentation should be maintained in the Procurement Record.
23
4.7 Award Based on Best Value
Award of a Contract based on best value pursuant to an RFP shall be made in accordance with
this Section 4.7 as follows:
4.7.1 Evaluation Team
For each RFP
1
, there shall be an evaluation committee consisting of staff members nominated by
the Department Head or their designee and approved by the CCO (the “Evaluation Committee”)
who are responsible for evaluating each Proposal; however, for any RFP, the Director of
Diversity Contracting, or their designee, shall be solely responsible for evaluating the portions of
proposals that relate to Diversity Practices. The Designated Contact shall provide the Evaluation
Committee with all relevant Proposal materials, in accordance with these Guidelines, including,
but not limited to, the Proposals (including the Cost Proposal, when appropriate), the RFP, and
any addenda to the RFP. The evaluation process, including any numerical scores, shall be
documented by the Designated Contact in reasonable detail.
4.7.2 Conducting the Evaluation
The evaluation measures the extent to which a Bid will meet the Authority’s needs and assesses
the strengths and weaknesses of each Bid. The main steps for performing the evaluation are
discussed below.
4.7.3 Evaluation Criteria Best Practices
Criteria for evaluation of Proposals shall be developed on a case-by-case basis based on the
needs of the end-user of the Contract and in consultation with the applicable Department Head or
their designee. Some areas to be considered in the development of Evaluation Criteria may
include, but are not limited to, the following:
• Work plan and methodology to achieve desired end results;
• Degree to which the Proposal satisfies mandatory, optional, desirable and/or alternative
green performance standards;
• Experience of the Bidder in providing the required Services and/or deliverables;
• Management capability of the Bidder;
• Bidder’s overall past performance;
• Diversity Practices;
• Qualifications and experience of the Bidder’s proposed staff;
• Conformance with the schedule of work set forth in the RFP; and
• Bidder references.
4.7.4 Assignment of Values to Evaluation Criteria
The methodology for evaluating Proposals must be established before the initial receipt of
Proposals. Once the evaluation criteria have been determined, values must be assigned to the
1
For convenience, Sections 4.7 through 4.10 discuss the evaluation process of an RFP but are applicable to any solicitation for
competitive Bids requiring an evaluation.
24
criteria and any sub-criteria. The evaluation criteria and the assigned values must be provided in
the RFP.
Alternative concepts for assigning value to the technical criteria may be permissible to account
for the nature of the Procurement. In such instances, the CCO shall verify with the General
Counsel before issuance of the RFP.
4.7.5 The Evaluation Instrument
Each member of the Evaluation Committee must use the evaluation instrument to apply the
evaluation criteria to the Proposals, including the assigned value for each criterion. The
evaluation instrument consists of a series of documents used during the evaluation process,
including but not limited to:
• Rating sheet which defines allocation of points for each criterion;
• Completed rating sheets recording each evaluation committee members’ scores;
• Cost Proposal evaluation, when evaluating cost pursuant to Section 4.6;
• Summary rating sheet tallying the scores of all committee members; and
• Reference checks.
A subject matter expert who is not a member of the Authority’s staff may be used to assist with
evaluations. The Evaluation Committee should consider whether a confidentiality agreement
with the subject matter is appropriate.
4.7.6 Scoring Methodology
Scores for the pre-determined criteria must be recorded by the Evaluation Committee on the
evaluation instrument in accordance with the pre-determined criteria and sub-criteria, if
applicable. Provided that prospective Bidders are so advised, information beyond that provided
in the written Proposals may be considered in order to determine a score, such as:
• Product or service demonstrations and presentations;
• Reference checks (staff and/or company performance);
• Site visits;
• Interviews of key representatives and proposed staff of the Bidder;
• Consultation with relevant technical advisors;
• Written Proposal clarifications; and
• Rating services (such as Moody’s or Dun & Bradstreet).
Upon written approval of the General Counsel or the Vice President of Administration, the
Authority may waive mandatory requirements in the RFP that are not material, provided that the
waiver neither:
• Disadvantages the Authority;
• Uniquely benefits the selected Bidder;
• Prejudices any non-winning Bidder; nor
25
• If known at the time of bidding, could reasonably be assumed to have caused additional
potential Bidders to submit Bids.
After performing an initial evaluation, the Evaluation Committee may determine certain
Bidder(s) should be eliminated from consideration based solely on the content of the Proposal(s).
The determination to eliminate a Bidder(s) from consideration must be justified and documented,
with any initial scoring or other memoranda explaining the determination added to the
Procurement Record. After determining which Bidders will be eliminated from further
consideration, if any, based on comparative low scoring or other documented reasons justifying
such elimination, the Evaluation Committee may open and review the Cost Proposals of the
remaining Bidders before conducting interviews. Absent advance approval from the President or
their designee, only Evaluation Committee members, Subject Matter Expert, and the Designated
Contact may be present at such interviews. Upon completion of the evaluation as set forth in the
evaluation instrument and the RFP, the initial evaluation scores shall be adjusted and finalized,
as necessary.
4.7.7 Request for Best and Final Offer
In circumstances where it would be beneficial to the Authority, the Authority is authorized to
request from one or more Bidders an amendment to its Bid that would represent its best and final
offer if: (1) the project manager or Department Head provides a written memorandum justifying
the request for a best and final offer; (2) such request is approved by the President, and (3) such
request does not materially change the scope of work or evaluation criteria for the Procurement.
4.7.8 Determining the Best Value Bidder
For Solicitations in which cost is not the only evaluation criteria, the Authority should award the
Contract to the highest rated Bidder whose Bid is determined to be responsive and in the best
interests of the Authority, subject to a determination that the Cost Proposal, as amended by any
best and final offer response, is fair, reasonable and provides the best value to the Authority
given the requirements of the project. Even if using a Centralized Contract, the reason for
selecting a specific Vendor that is not the lowest priced Vendor should be documented.
4.8 Award Based on Single Bid
The Authority may award a contract to a Bidder if only one Bid was submitted, provided that the
Project Manager delivers a memorandum to the President explaining that, based on the
documentation contained in the Procurement Record, adequate opportunity was given to ensure
competition, including but not limited to proper outreach and advertising and that the sole Bid
was reasonable in cost, and the President provides written approval of the Project Manager’s
memorandum.
4.9 Selection
At the conclusion of the evaluation process, the project manager shall inform their Department
Head of the proposed award. At the Department Head’s request, the Evaluation Committee shall
26
consider such additional facts and/or information as the Department Head deems necessary prior
to the Authority’s approval of the proposed award and notification of any Bidder of a Final
Award.
4.10 Letters of Intent
Where the Department Head initiating the Procurement provides a written memorandum
explaining the need for a letter of intent (“LOI”) in order to ensure timely completion of a project
by a selected Contractor, and that memorandum is approved by the President, the Chief
Operating Officer, and the General Counsel, a LOI may be issued to a Contractor. Such LOIs
may be issued prior to the execution of Procurement Contracts for a value of up to 10% of the
total anticipated Procurement Contract amount, subject to approval requirements for a
Procurement of that amount. Such LOIs shall authorize Contractors to proceed with work
pending the execution of the Procurement Contract, and shall expressly provide that the
Contractor is granted no rights against the Authority in the event a Contract is not executed
except for the reasonable value of the preliminary work to be performed, not to exceed an
amount set forth in the LOI.
4.11 Notification of Award
Upon execution of the contract, the Designated Contact may notify all non-selected Bidders of
the Final Award. Where practicable, all MWBEs and SDVOBs designated on the Utilization
Plans of the selected Bidder will be notified of the award at this time by the Designated Contact.
4.12 Post-Award Advertisement
For any Procurement Contract with a value exceeding $50,000, initially or through Amendment,
that was not awarded pursuant to a Competitive Procurement Method, the Authority shall publish
in the New York State Contract Reporter a notice of the award of such contract and the reasons
for the method used, including any justification for using a non-Competitive Procurement
Method, if applicable.
27
5. Approvals
Further guidance regarding the approval process, including the purpose of each approver’s
review, in the Standard Operating Procedures for Procurement 2024, which may be modified
from time to time at the discretion of the staff.
5.1 Commencing the Approval Process
The department initiating the Procurement shall request approval of the award of a Procurement
Contract by: i) entering the procurement details into the Authority’s Procurement Site; and ii)
uploading all supporting documentation for electronic approval by the initiating Department
Head within the Procurement Site, including, but not limited to:
• A written justification of the Procurement, detailing the Procurement Method used, the
evaluation process conducted, and the basis for determining the selected Bidder;
• Copies of all Cost Proposals received;
• The Selected Bidder’s Vendor Responsibility Report and W-9 IRS Tax Form; and
• The Selected Bidder’s Financial Statements, when requested.
5.2 Required Procurement Approvals
The award of Procurement Contracts, and any subsequent Amendments, must be approved as
follows:
• The Project Manager may approve once they have verified that all information and
documentation is complete and accurate.
• Each Department Head may approve once they have verified that all information and
documentation is complete and accurate and the department’s budget has funds allocated
for the project.
• The CCO may approve a Procurement Contract once the CCO has i) verified that the
Bidder is responsible (and, in the case of a Centralized Contract from OGS, that the
Bidder’s OGS certification is valid) and has submitted certificates of insurance in
accordance with the Solicitation requirements; ii) as applicable, that the selection was
made pursuant the BPCA Procurement Guidelines, related policies and procedures, and
the terms of the Solicitation; and iii) that the correct people have conducted the required
approvals in the procurement record.
• The Director of Diversity Contracting may approve a Procurement Contract once he/she
has confirmed accuracy of MWBE/SDVOB status of the proposer; completeness of
MWBE/SDVOB reporting, if any; approval of MWBE/SDVOB utilization plan, and any
updates to those plans required for Amendments; and MWBE/SDVOB contract goals.
• Should the contract be of a value greater than $50,000 or should it require Board
approval, the General Counsel shall approve to confirm that they have conducted a
review of the procurement, based on the representation of the Originating Department
Head and prior approvals, and provided any feedback to the Originating Department
Head.
28
• The Chief Financial Officer may approve a Procurement Contract once they have
confirmed that the accompanying documentation includes a consistent record of the
commitment of funds associated with the Procurement.
• Contracts exceeding $150,000 must also be approved by the President, who does so
based on prior approvals and signs off on commitment to the project and the associated
Procurement; and
• Contracts exceeding $500,000 must also be approved by the Board.
5.2.1 Board Approval for Contracts
In addition to the approvals required above, Board approval is required for any Procurement
Contract for services to be rendered over a period in excess of one year. For the avoidance of
doubt, contracts for equipment, vehicle leases, warranties, or software licenses are excluded from
this requirement, as they are not contracts for services. Independent Auditors for the Authority
shall be retained only with the prior approval of the Board.
5.3 Contract Amendment Approvals
In addition to all applicable requirements set forth in Section 5.2, each request for an
Amendment to a Procurement Contract shall require the following approvals:
5.3.1 Board Approval for Contract Amendments
The Board must approve any Amendment that:
• Causes the aggregate amount of any Procurement Contract to exceed $500,000 for the
first time; or that
• Increases the aggregate amount of a Procurement Contract by $500,000 or more above
the amount the Board previously approved.
In addition, except for those types of contracts listed in Section 5.3 above, Board approval is
required for any extension of an existing Services Contract that a) for the first time, extends the
contract term beyond one year; or b) extends the Contract Term by one year or more from the
Contract Term last approved by the Board.
5.3.2 Amendment Presidential Approvals
The President must approve any Amendment that would cause the value of a Procurement
Contract, either originally or as amended, to exceed its Original (or amended) Value by twenty
five percent (25%) or more.
5.3.3 Diversity Amendment Review
Contract Amendments must be reassessed for MWBE and SDVOB participation goals, current
MWBE and SDVOB Utilization Compliance of the project, and may require vendors to provide
updated MWBE and SDVOB Utilization plans prior to approval by the Director of Diversity
29
Contracting.
5.4 Contracts Requiring OSC Approval
Any Procurement Contract exceeding $1,000,000, originally or as amended, which was awarded
non-competitively or will be paid in whole or in part from monies appropriated by the State, and
any Amendment to a Procurement Contract previously approved by the New York State Office
of the State Comptroller (“OSC”) where the value of the Amendment is ten percent (10%) or
more of the Procurement Contract value as originally approved by the OSC, shall be submitted to
OSC for filing within 60 days after execution and if the Contract/Amendment is the subject of an
active written notice by OSC, such Amendment shall be submitted to OSC for prior approval.
5.5 Contracts Requiring EDC Notification
The Authority shall notify the Commissioner of Economic Development Corporation of the
award of a Contract from a Foreign Business Enterprise in an amount equal to or greater than
$1,000,000 at the same time as notice is given to the successful Bidder. Such notice shall include
the name, address, telephone and fax number for the Foreign Business Enterprise as well as a
brief description of the Commodities or Services to be provided, the Contract value and Term
and the name of the point of contact for the Foreign Business Enterprise. No Contract may be
entered into until at least fifteen (15) days from notice to the Commissioner unless in the event of
an emergency where the Commissioner waives the requirements hereunder. For the purposes of
this paragraph, the phrase Foreign Business Enterprise shall mean any business enterprise which
proposes to supply the Authority with Commodities produced or Services performed outside of
New York State.
5.6 Designation of Approval Authority
Any approver who seeks to designate another employee to exercise approval authority as
provided for under these Guidelines must first ensure the proposed designee be trained on how to
conduct sufficient reviews and approvals and be so designated in writing.
5.7 Reporting
Any Procurement Contract the Authority enters into with an Original Value between
$250,000 and $500,000 must be documented by the CCO and reported to the Board at the first
meeting subsequent to such Contract’s execution. In addition, on a quarterly basis, management
must provide a report to the Board listing all projects for which a Procurement may potentially
be performed in that quarter.
5.8 Final Contract Approvals
Upon completion of all applicable requirements set forth in these Guidelines, each request for a
Procurement Contract shall require the following approvals, completed per the same criteria set
forth in Section 5.2: Subsequent to execution by the selected Vendor and before execution by the
Authority, each Procurement Contract shall be approved by the initiating Department Head or
30
his/her designee, Director of Diversity Contracting, Chief Financial Officer, General Counsel for
Procurements in excess of $50,000 or for those requiring Board approval, and the President.
Presidential approval authority can be delegated, at the discretion of the President, to the Chief
Financial Officer and/or the Chief Operating Officer.
5.9 Monitoring of Procurement Contracts
Performance of Procurement contracts must be monitored by the initiating department to ensure
that: (i) the scope of work or Services to be provided are being/have been timely performed; (ii)
cost escalations are identified at the earliest possible opportunity; (iii) the established starting and
completion dates for major components of the contract are being/have been met; and (iv) that
Utilization Plans, MWBE, and SDVOB participation is progressing as expected and being
reported as required. All invoices presented for payment should be reviewed by the person who
is monitoring the contract and approved by the respective Department Head and the Director of
Diversity Contracting.
6. Effect on Awarded Contracts
Nothing contained in these Guidelines shall be deemed to alter, affect the validity of, modify the
terms of, or impair any contract or agreement made or entered into in violation of, or without
compliance with, these Guidelines. These Guidelines reflect best customary practice but are not
intended to be rules of law. Note, however, that certain contracts may not be “valid or
enforceable” without OSC approval. (See Section 5.4)
ProcurementTransactionsBulkLoadWorksheet
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐VendorAddress‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
*VendorName *ProcurementDescription *TypeofProcurement *AwardProcess AwardDate BeginDate
Doesthecontract
haveanendDate? EndDate Amount
*AmountExpended
ForFiscalYear
AmountExpendedFor
LifeToDate
Currentor
OutstandingBalance
NumberofBidsorProposals
ReceivedPriortoAwardof
Contract
IstheVendoraNYSor
ForeignBusinessEnterprise?
IstheVendoraMinorityorWoman‐
OwnedBusinessEnterprise?
WereMWBEfirmssolicitedas
partofthisprocurement
process?
Numberofbidsor
proposalsreceivedfrom
MWBEfirms. FairMarketValue
Explainwhythefairmarketvalueis
lessthanthecontractamount *AddressLine1 AddressLine2 *City State *PostalCode
STVIncorporated CPCBallfield&CommunityCTRRecsiliencyServices ConsultingServices AuthorityContract‐CompetitiveBid 8/27/2018 8/27/2018 Y 11/30/2021 1,013,682.55$ 59,125.00$ 983,477.00$ 30,205.55$ 8 N Y 0 225ParkAvenueSouth NewYork NY 10003
LiroProgramandConstructionManagement,PE,P.C BPCCCTRLeakRemediationC.MServices ConsultingServices AuthorityContract‐CompetitiveBid 12/15/2018 12/15/2018 Y 12/14/2022 918,900.23$ 47,838.00$ 892,998.91$ 25,901.32$ 4 N Y 1 3AerialWay Syosset NY 11791
HudsonMeridianConstructionGroup BPCBallfields&CommunityCenter ConsultingServices AuthorityContract‐CompetitiveBid 1/15/2020 1/15/2020 Y 6/30/2022 461,949.38$ 151,545.12$ 461,870.60$ 78.78$ 12 N Y 5 61Broadway 7thFloor NewYork NY 10006
DewberryEngineers,Inc PeerReviewServicesforNorth,SouthBPCResiliency ConsultingServices AuthorityContract‐CompetitiveBid 3/25/2020 3/25/2020 Y 1/31/2023 498,286.63$ 106,329.52$ 498,286.63$ ‐$ 4 N Y 0 132West31Street,Suite301 NewYork NY 10001
ABMJanitorialServices JanitorialCleaningServices Other AuthorityContract‐Non‐CompetitiveBid 1/1/2020 1/1/2020 Y 12/31/2022 218,425.87$ 14,704.90$ 218,425.87$ ‐$ 1 N N 0 218,425.87$ POBox1534 NewYork NY 10008
HowardL.BosswellEngineerandLandSurveyor,PC Phase7pileRemediationProjectConstructionManagementandDivingInspectionServices ConsultingServices AuthorityContract‐CompetitiveBid 7/6/2020 7/6/2020 Y 4/29/2022 837,234.53$ 327,579.91$ 836,788.71$ 445.82$ 4 N Y 1 330PhillipsAvenuePOBox3152 SouthHackensack NJ 7606
TheGottesmanOrganization,Inc/dbaAltusMetal&MarbleMaintenance MetalandStoneSculptureMaintenanceandConservationServices ConsultingServices AuthorityContract‐Non‐CompetitiveBid 8/28/2020 8/28/2020 Y 8/28/2023 398,850.00$ 98,350.00$ 389,625.00$ 9,225.00$ 3 Y Y 3 398,850.00$ 732SmithtownBypass,Suite304 Smithtown NY 11787
SuziMusic,LLC Children'sMusicalPerformances Other AuthorityContract‐Non‐CompetitiveBid 4/28/2022 4/28/2022 Y 3/31/2023 10,000.00$ 1,950.00$ 5,300.00$ 4,700.00$ 1 N N 0 10,000.00$ 45118thStreet Brooklyn NY 11215
GolondrinaLLC Children’sMusicalPerformances Other AuthorityContract‐Non‐CompetitiveBid 4/28/2022 4/28/2022 Y 4/30/2023 10,000.00$ 2,200.00$ 3,100.00
$ 6,900.00$ 1 N N 0 10,000.00$ 47HudsonPlace FL3 Weehawken NJ 7086
WilliamKeyWilde,Jr Children'sMusicalPerformances Other AuthorityContract‐Non‐CompetitiveBid 4/29/2022 4/29/2022 Y 4/30/2023 10,000.00$ 1,400.00$ 1,900.00$ 8,100.00$ 1 N N 0 10,000.00$ 2SkyManorRd Pittstown NJ 8867
QuietEvents,Inc. DJservices&Headphonesforsilentevents Other AuthorityContract‐Non‐CompetitiveBid 2/4/2022 2/4/2022 Y 2/3/2023 15,000.00$ ‐$ 8,520.00$ 6,480.00$ 3 N N 0 15,000.00$ 21‐3532ndStreet Astoria NY 11105
UnitedTalentAgency/NicoleAtkins&Co.LLC RiverandBlues'Performancemusicalperformers Other AuthorityContract‐Non‐CompetitiveBid 7/7/2022 7/7/2022 Y 10/3/2022 11,000.00$ 5,500.00$ 11,000.00$ ‐$ 1 N N 0 11,000.00$ 9336CivicCenterDriver BeverlyHills CA 90210
JermaineAlexanderClark,LLC/dbaGovernmentContent ArtVideoProductionServices ConsultingServices AuthorityContract‐Non‐CompetitiveBid 5/20/2022 5/20/2022 Y 5/19/2024 38,390.00$ ‐$ 18,000.00$ 20,390.00$ 17 N N 13 38,390.00$ 58West126thSt. NewYork NY 10027
ArtexRiskSolutions,Inc CaptiveInsuranceProgramFeasibilityStudy ConsultingServices AuthorityContract‐Non‐CompetitiveBid 12/2/2022 12/2/2022 Y 12/1/2023 40,000.00$ 40,000.00$ 40,000.00$ ‐$ 3 N N 2 40,000.00$ 2850GolfRoad RollingMeadows IL 60008
AECOMUSA,Inc Benefit‐CostAnalysisofBPCResiliencyProjects ConsultingServices AuthorityContract‐Non‐CompetitiveBid 6/23/2022 6/23/2022 Y 3/31/2023 134,039.00$ 50,877.08$ 121,377.51$ 12,661.49$ 0 N N 0 134,039.00$ 605ThirdAvenue NewYork NY 10158
AlbanyStrategicAdvisors.LLC NewYorkSateLegislativeLobbyist ConsultingServices AuthorityContract‐Non‐CompetitiveBid 5/27/2022 5/27/2022 Y 6/26/2022 5,000.00$ ‐$ 5,000.00$‐$ 0 N N 0 5,000.00$ 111WashingtonAvenue2ndFL. Albany NY 12210
Arts&EducationContinuum,Inc. MusicalPerformance Other AuthorityContract‐Non‐CompetitiveBid 11/12/2022 11/12/2022 Y 11/12/2022 5,500.00$ 5,500.00$ 5,500.00$‐$ 1 N N 0 5,500.00$ 27MountMorrisParkWest NewYork NY 10027
NicoleR.Fleetwood TalkArtDiscussion Other AuthorityContract‐Non‐CompetitiveBid 11/11/2022 11/11/2022 Y 11/12/2022 1,000.00$ 1,000.00$ 1,000.00$‐$ 1 N N 0 1,000.00$ 38W119St.#2 NewYork NY 10026
MuseumofJewishHeritage‐LivingMemorialtotheHolocaust NewYorkJewishBookFestivalandGenealogyFestival Other AuthorityContract‐Non‐CompetitiveBid 12/11/2022 12/11/2022 Y 7/1/2023 50,500.00$ 50,500.00$ 50,500.00$ ‐
$ 0 N N 0 50,500.00$ 36BatteryPlace NewYork NY 10280
PoetsHouse,Inc CelebrationinthePark&WindowExhibition Other AuthorityContract‐Non‐CompetitiveBid 1/12/2023 1/12/2023 Y 10/1/2023 29,230.00$ 29,230.00$ 29,230.00$ ‐$ 0 N N 0 29,230.00$ 10RiverTerrace NewYork NY 10282
SkyscraperMuseum TheSkyscraperMuseumFamilyProgram&WalkingTour Other AuthorityContract‐Non‐CompetitiveBid 1/31/2023 1/31/2023 Y 9/20/2023 20,000.00$ 20,000.00$ 20,000.00$ ‐$ 0 N N 0 20,000.00$ 39BatteryPlace NewYork NY 10280
Child'sPlayChallengeCourses PlaycourseproviderforParksProgrammingevent Other AuthorityContract‐Non‐CompetitiveBid 3/16/2023 3/16/2023 Y 3/19/2023 5,500.00$ 5,500.00$ 5,500.00$‐$ 2 N N 1 5,500.00$ 410MontagueAvenue ScotchPlains NJ 7076
IlluminationEvents,Inc. IlluminationLightArtExperienceevent Other AuthorityContract‐Non‐CompetitiveBid 4/7/2023 4/7/2023 Y 5/7/2023 15,000.00$ 15,000.00$ 15,000.00$ ‐$ 1 N N 0 15,000.00$ 81ProspectSt. Brooklyn NY 11201
FranckMuhel CommunityDance Other AuthorityContract‐Non‐CompetitiveBid 4/26/2023 4/26/2023 Y 6/10/2023 6,500.00$ 6,500.00$ 6,500.00$‐$ 1 N N 0 6,500.00$ 2253ThirdAve,Apt1210 NewYork NY 10035
PaulSDahlin SwedishFestivalMusicalPerformance Other AuthorityContract‐Non‐CompetitiveBid 4/17/2023 4/17/2023 Y 6/23/2023 11,750.00$ 11,750.00$ 11,750.00$ ‐$ 1 N N 0 11,750.00$ 120FirstAvenue TwoHarbors MN 55616
AsianAmericanWriters'Workshop ContemporaryAsianAmericanBallads Other AuthorityContract‐Non‐CompetitiveBid 5/1/2023 5/1/2023 Y 7/31/2023 6,000.00$ 6,000.00$ 6,000.00$‐$ 0 N N 0 6,000.00$ 112West27thStreet,Suite600 NewYork NY 10001
MuseumofJewishHeritage‐LivingMemorialtotheHolocaust Wayfinding Other AuthorityContract‐Non‐CompetitiveBid 11/1/2022 11/1/2022 Y 3/31/2023 8,700.00$ 8,700.00$ 8,700.00$‐$ 0 N N 0 8,700.00$ 36BatteryPlace NewYork NY 10280
LowerManhattanCulturalCouncil MartaBlairVisualArtInstallation&NatuCamara OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 5/25/2023 5/25/2023 Y 6/17/2023 50,000.00$ 50,000.00$ 50,000.00$ ‐$ 0 N N 0 50,000.00$ 125MaidenLane,2ndFloor NewYork NY 10038
MahoganyLBrowne,LLC MahoganyL.BrowneBookReadingPerformance Other AuthorityContract‐Non‐CompetitiveBid 5/9/2023 5/9/2023 Y 5/14/2023 5,000.00$ 5,000.00$ 5,000.00$‐
$ 0 N N 0 5,000.00$ 2484BedfordAvenue,apt5A Brooklyn NY 11226
GeorgeAnthonyMorton GeorgeMortonArtPresentationPeformance Other AuthorityContract‐Non‐CompetitiveBid 5/22/2023 5/22/2023 Y 5/21/2024 1,500.00$ 1,500.00$ 1,500.00$‐$ 1 N N 0 1,500.00$ 600CollegeStreet,Unit201 Hapeville GA 30354
TobiasPaznerdbaExpressionSoundEntertainmentLTD River&BluesLeeFieldsperformance Other AuthorityContract‐Non‐CompetitiveBid 6/29/2023 6/29/2023 Y 7/13/2023 20,000.00$ 20,000.00$ 20,000.00$ ‐$ 1 N N 0 20,000.00$ 242East33rdStreet NewYork NY 10016
TheDipMusicLLCdbaTheDip RiverandBluesPerformance Other AuthorityContract‐Non‐CompetitiveBid 7/5/2023 7/5/2023 Y 7/6/2023 20,000.00$ 20,000.00$ 20,000.00$ ‐$ 1 N N 0 20,000.00$ POBox6009 Bozeman MT 59771
OutsideChild,Inc. RiverandBluesPerformance Other AuthorityContract‐Non‐CompetitiveBid 7/14/2023 7/14/2023 Y 7/27/2023 22,500.00$ 22,500.00$ 22,500.00$ ‐$ 1 N N 0 22,500.00$ 235ParkAve.S.,Floor9 NewYork NY 10003
UNFITUSACorp RiverandBluesPerformance Other AuthorityContract‐Non‐CompetitiveBid 6/28/2023 6/28/2023 Y 7/20/2023 8,500.00$ 8,500.00$ 8,500.00$‐$ 1 N N 0 8,500.00$ 249MarguerettaStreet Toronto ON M6H3S4
ChurchStreetSchoolforMusicandArtInc. CSSMAMusicandArtProgramandPerformances Other AuthorityContract‐Non‐CompetitiveBid 7/31/2023 7/31/2023 Y 8/18/2023 10,000.00$ 10,000.00$ 10,000.00$ ‐$ 1 N N 0 10,000.00$ 41WhiteSt. NewYork NY 10034
BatteryDanceCorporation BatteryDanceFestival Other AuthorityContract‐Non‐CompetitiveBid 8/11/2023 8/11/2023 Y 8/19/2023 30,000.00$ 30,000.00$ 30,000.00$ ‐$ 0 N N 0 30,000.00$ 380Broadway,5thFloor NewYork NY 10013
ShuliSaded/b/aSadeStudio AugmentedRealityArtwork OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 11/16/2021 11/16/2021 Y 11/15/2022 35,000.00$ 3,500.00$ 35,000.00$ ‐$ 1 N N 0 35,000.00$ 55West14thSt#16F NewYork NY 10011
DeborahBradleyConstructionCompany RockefellerParkPlaygroundRestoration DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 3/28/2019 3/28/2019 Y 5/31/2021 2,009,539.34$ 62,225.70$ 2,009,139.77$ 399.57$ 3 Y Y 2 481ManhattanAvenue 11thFl NewYork NY 10027
Nicholson&Galloway,Inc. Site23‐24LeakRemediaiton&Waterproofing DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 7/30/2019 7/30/2019 Y 12/30/2022 7,797,467.45$ 105,841.37$ 7,776,369.31$ 21,098.14$ 4 N Y 1 261GlenHeadRoad GlenHead NY 11545
LouisF.Gallo ChildrensMusicalPerformances Other AuthorityContract‐Non‐CompetitiveBid 4/1/2022 4/1/2022 Y 3/31/2023 10,000.00$ 2,100.00$ 3,375.00$
6,625.00$ 1 N N 0 10,000.00$ 2‐19BerdanAvenue FairLawn NJ 7410
CranaElectric,Inc PierAPhaseIIICoreandShellElectricWork OtherProfessionalServices AuthorityContract‐CompetitiveBid 2/4/2010 2/4/2010 Y 7/31/2014 2,250,423.59$ ‐$ 2,224,272.06$ 26,151.53$ 0 N Y 0 2305thAvenueSouth MountVernon NY 10550
UNISYSElectricInc. Site3BPCPCMaintenanceFacilityElectricWork OtherProfessionalServices AuthorityContract‐CompetitiveBid 7/24/2007 7/24/2007 Y 8/31/2010 4,285,331.51$ ‐$ 4,285,331.51$ ‐$ 0 N Y 0 19IrvingPlace StatenIsland NY 10304
CommunityElectricInc. BelvederePylons&GlassBenches DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 1/22/2019 1/22/2019 Y 4/30/2021 713,243.50$ ‐$ 658,806.28$ 54,437.22$ 3 N Y 1 124GraniteAvenue StatenIsland NY 10303
AsphaltGreen,Inc. Communitycentermanagersite23/24 DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 12/30/2009 12/30/2009 Y 4/30/2022 1,932,925.78$ ‐$ 1,932,925.78$ ‐$ 0 N Y 0 555East90thStreet NewYork NY 10128
CBRichardEllis,Inc. On‐CallRealEstateConsultantServices ConsultingServices AuthorityContract‐CompetitiveBid 4/29/2011 4/29/2011 Y 12/31/2019 1,572,500.00$ ‐$ 1,445,950.00$ 126,550.00$ 0 N Y 0 200ParkAvenue19thFL NewYork NY 10166
KSEngineers,P.C On‐CallEngineeringServices OtherProfessionalServices AuthorityContract‐CompetitiveBid 3/5/2015 3/5/2015 Y 6/30/2019 675,000.00$ ‐$ 444,427.38$ 230,572.62$ 13 Y Y 3 65Broadway,Suite1002 10thFloor NewYork Ny 10006‐2542
JPMorganChaseBank Banking&CashManagementservices FinancialServices AuthorityContract‐CompetitiveBid 3/1/2016 3/1/2016 Y 12/11/2023 60,200.00$ 809.89$ 44,265.54$ 15,934.46$ 4 N Y 0 277ParkAvenue 23rdfl. NewYork NY 10172
ArchitecturalPreservationStudios 200‐300NorthAveLeakRemediation DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 3/2/2015 3/2/2015 Y 7/31/2023 473,350.00$ 5,225.00$ 419,377.70$ 53,972.30$ 7 Y Y 1 594Broadway,Suite919 NewYork NY 10012‐3233
SherTremonteLLP LegalServices LegalServices AuthorityContract‐Non‐CompetitiveBid 12/20/2016 12/20/2016 Y 11/20/2020 500,000.00$ ‐$ 317,302.68$ 182,697.32$ 3 N N 0 500,000.00$ 90BroadStreet 23rdFloor NewYork NY 10004
FingerLakesInsdustrialContractingCorp. PierARiverWaterGeothermalSystemMaintenance DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 5/10/2017 5/10/2017 Y 12/29/2023 679,413.00$ ‐$ 493,418.02$ 185,994.98$ 2 Y Y 1 3195EastBayardStreetExt SenecaFalls NY 13148
UrbanEngineersofNewYorkP.C OncallEngineeringServices DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 7/31/2017 7/31/2017 Y 9/14/2020 900,000.00
$ ‐$ 614,682.22$ 285,317.78$ 19 N Y 5 7PennPlaza,370SevenAve,Suite1800 NewYork NY 10001
212/HarakawaInc.DBATwoTwelve WayfindingSignageDesignServicesBPC DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 10/16/2017 10/16/2017 Y 6/30/2022 417,817.35$ ‐$ 396,418.22$ 21,399.13$ 3 Y Y 1 236West27thStreetSuite802 NewYork NY 10001
RaymondofNewJersey,LLC Parkswarehouseequipmentmaintenance OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 11/1/2017 11/1/2017 Y 10/31/2022 98,388.66$ 2,931.25$ 98,171.65$ 217.01$ 1 N N 0 98,388.66$ 100BrightonStreet Union NJ 7083
CroweLLP ProfessionalandInternalAuditServices ConsultingServices AuthorityContract‐CompetitiveBid 11/20/2017 11/20/2017 Y 11/17/2023 2,535,000.00$ 835,059.50$ 2,473,705.97$ 61,294.03$ 14 Y Y 2 320EJeffersonBlvd,POBox7 SouthBend IN 46624‐0007
PFMFinancialAdvisorysLLC FinancialAdvisoryServicesandIndependentRegisteredMunicipalAdvisor FinancialServices AuthorityContract‐CompetitiveBid 10/2/2017 10/2/2017 Y 1/30/2023 688,800.00$ 11,467.50$ 608,601.25$ 80,198.75$ 3 N Y 0 1735MarketStreet43Fl Philadelphia PA 19103
IronMountainInc. MIS,BPCA&Parksstorage OtherProfessionalServices AuthorityContract‐CompetitiveBid 7/1/2018 7/1/2018 Y 12/31/2021 112,583.00$ ‐$ 112,518.35$ 64.65$ 4 N Y 0 1FederalStreet7thFl. Boston MA 2110
AthleticFieldsofAmericaCorporation BPCBallfields&WestThamesParkMaintenance Other AuthorityContract‐Non‐CompetitiveBid 4/18/2018 4/18/2018 Y 9/29/2023 143,000.00$ 28,231.99$ 138,931.99$ 4,068.01$ 0 N N 0 143,000.00$ 145RiverRoad Montville NJ 7045
AutomaticDataProcessing,Inc ADPWorkfoceNowHRsystem/BPCA OtherProfessionalServices AuthorityContract‐CompetitiveBid 3/5/2018 3/5/2018 Y 4/25/2024 831,185.00$ 121,582.59$ 684,053.82$ 147,131.18$ 3 N Y 0 OneADPBoulevard Roseland NJ 7068
IRLSystems,Inc FireAlarmSystemsTest&Inspection ConsultingServices AuthorityContract‐Non‐CompetitiveBid 2/14/2018 2/14/2018 Y 2/12/2024 54,412.94$ 3,756.43$ 17,443.65$ 36,969.29$ 1 N N 0 54,412.94$ 1650BathAvenue Brooklyn NY 11214
RKSoftware,Inc. WebmasterServices Technology‐Consulting/DevelopmentorSupport AuthorityContract‐CompetitiveBid 3/1/2018 3/1/2018 Y 8/31/2022 254,881.73$ ‐$ 129,429.20$ 125,452.53$ 2 Y Y 2 36‐3037THStreet,2ndFL LongIslandCity NY 11101
SladeIndustries,Inc ElevatorInspection,Maintenance&Repair DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 6/12/2018 6/12/2018 Y 12/31/2023 191,403.26$ 34,802.36$ 119,686.76$ 71,716.50$ 2 N Y 0 1101BristolRd Mountainside NJ 7092
AECOMUSA,Inc SouthBatteryParkCityResiliency DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 8/22/2018 8/22/2018 Y 3/21/2025 19,872,090.85$ 1,511,483.44$ 17,869,879.81
$ 2,002,211.04$ 11 N Y 2 605ThirdAvenue NewYork NY 10158
CBRichardEllis,Inc. BondRealEstateConsulting FinancialServices AuthorityContract‐Non‐CompetitiveBid 8/10/2018 8/10/2018 Y 8/9/2019 475,000.00$ ‐$ 475,000.00$ ‐$ 0 N N 0 475,000.00$ 200ParkAvenue19thFL NewYork NY 10166
Bondlink,Inc. InvestorRelationsWebsite FinancialServices AuthorityContract‐Non‐CompetitiveBid 1/16/2019 1/16/2019 Y 1/15/2026 170,000.00$ 25,850.50$ 65,606.50$ 104,393.50$ 0 N N 0 170,000.00$ 330CongressSt.5thFloor Boston MA 2210
PageSoutherlandPageArchitecs,PC NYCPoliceMemorialVaultExpansion ConsultingServices AuthorityContract‐Non‐CompetitiveBid 4/3/2019 4/3/2019 Y 7/31/2022 366,854.30$ 8,209.11$ 355,233.61$ 11,620.69$ 0 N N 0 366,854.30$ 1100Lousiana,SuiteOne Houston TX 77002
AECOMUSA,Inc NorthBatteryParkCityResiliency ConsultingServices AuthorityContract‐CompetitiveBid 6/28/2019 6/28/2019 Y 3/28/2022 7,140,426.00$ ‐$ 4,290,970.60$ 2,849,455.40$ 8 N Y 1 605ThirdAvenue NewYork NY 10158
UnitedStatesMerchantsProtectiveCo,Inc AlarmMonitoring&AlarmEquipmentMaintenance,BPCPC ConsultingServices AuthorityContract‐Non‐CompetitiveBid 7/3/2019 7/3/2019 Y 6/30/2022 48,543.68$ 3,274.00$ 22,982.86$ 25,560.82$ 0 N N 0 48,543.68$ POBox1189 Bellmore NY 11710
WEXBankdbaWrightExpressFSC Cardservices Commodities/Supplies AuthorityContract‐Non‐CompetitiveBid 6/22/2018 6/22/2018 Y 6/21/2024 53,013.80$ 16,489.73$ 41,499.91$ 11,513.89$ 1 N N 0 53,013.80$ POBox6923 CarolStream IL 60197
WindelsMarxLane&MittendorfLLP LegalServices LegalServices AuthorityContract‐CompetitiveBid 9/1/2019 9/1/2019 Y 9/24/2023 3,500,000.00$ 393,424.61$ 3,284,074.48$ 215,925.52$ 46 N Y 12 156West56thStreet 22ndfl NewYork NY 10019
Wilson,Elser,Moskowitz,Edelman&DickerLLP LegalServices LegalServices AuthorityContract‐CompetitiveBid 9/1/2019 9/1/2019 Y 3/25/2023 50,000.00$ ‐$‐$ 50,000.00$ 46 N Y 12 150East42ndStreet NewYork NY 10017
SivePagetRieselPC Legalservices LegalServices AuthorityContract‐CompetitiveBid 9/1/2019 9/1/2019 Y 9/24/2023 2,100,000.00$ 141,876.62$ 1,492,112.34$ 607,887.66$ 46 N Y 12 560LexingtonAvenue 15thfl NewYork NY 10022
SchoemanUpdike&Kaufman&GerberLLP LegalServices LegalServices AuthorityContract‐CompetitiveBid 9/1/2019 9/1/2019 Y 9/24/2023 350,000.00$ 30,473.76$ 187,140.91$ 162,859.09$ 46 Y Y 12 551FifthAvenue 12thfl NewYork NY 10176
CarterLedyard&MilburnLLP LegalServices LegalServices AuthorityContract‐CompetitiveBid 9/1/2019 9/1/2019 Y 9/24/2023 250,000.00$ 28,992.13$ 138,370.29$ 111,629.71$ 46 N Y 12 2WallStreet NewYork NY 10005
LittlerMendelsonPC LegalServices LegalServices AuthorityContract‐CompetitiveBid 6/1/2019 6/1/2019 Y 9/24/2023 400,000.00$ 3,422.50$ 238,544.65$ 161,455.35$ 46 N Y 0 290BroadhollowRoad Suite305 Melville NY 1174
7
Bond,Schoeneck&KingPLLC LegalServices LegalServices AuthorityContract‐CompetitiveBid 8/15/2019 8/15/2019 Y 9/24/2023 400,000.00$ 83,360.50$ 283,982.91$ 116,017.09$ 46 N Y 12 1010FranklinAvenue Suite200 GardenCity NY 11530‐2900
CBRichardEllis,Inc. OnCallRealEstateConsulting ConsultingServices AuthorityContract‐CompetitiveBid 1/1/2020 1/1/2020 Y 3/25/2024 975,000.00$ ‐$ 183,925.00$ 791,075.00$ 6 N Y 0 200ParkAvenue19thFL NewYork NY 10166
WashingtonSquarePartnersInc. RealEstateConsultingServices ConsultingServices AuthorityContract‐CompetitiveBid 7/1/2019 7/1/2019 Y 6/30/2024 250,000.00$ ‐$ 110,243.00$ 139,757.00$ 5 N Y 0 675ThirdAvenue 25thfloor NewYork NY 10017
Thornton‐TomasettiGroup,Inc. PhysicalSiteSecurityConsultingServices ConsultingServices AuthorityContract‐CompetitiveBid 10/4/2019 10/4/2019 Y 12/30/2022 539,307.59$ 53,817.38$ 527,183.72$ 12,123.87$ 5 N Y 0 51MadisonAvenue 19thFloor NewYork NY 10010
AsphaltGreen,Inc. AsphaltGreen501c3LegalOpinion OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 7/1/2019 7/1/2019 Y 9/30/2019 35,000.00$ ‐$ 28,192.43$ 6,807.57$ 0 N N 0 35,000.00$ 555East90thStreet NewYork NY 10128
LiroProgramandConstructionManagement,PE,P.C OnCallConstructionManagmentServices ConsultingServices AuthorityContract‐CompetitiveBid 10/10/2019 10/10/2019 Y 3/24/2024 500,000.00$ 7,574.27$ 204,251.76$ 295,748.24$ 17 N Y 5 3AerialWay Syosset NY 11791
EliteConstructionCompanyofNY,LLC OnCallConstructionManagmentServices ConsultingServices AuthorityContract‐CompetitiveBid 9/27/2019 9/27/2019 Y 3/24/2024 200,000.00$ ‐$ 84,391.72$ 115,608.28$ 17 N Y 5 300GardenCityPlaza,Suite148 Suite325 GardenCity NY 11530
AECOMUSA,Inc OnCallConstructionManagmentServices ConsultingServices AuthorityContract‐CompetitiveBid 9/27/2019 9/27/2019 Y 3/24/2024 200,000.00$ ‐$‐$ 200,000.00$ 8 N Y 7 605ThirdAvenue NewYork NY 10158
JMTofNewYork,Inc OnCallConstructionManagmentServices ConsultingServices AuthorityContract‐CompetitiveBid 10/10/2019 10/10/2019 Y 3/24/2024 350,000.00$ ‐$ 188,881.00$ 161,119.00$ 8 N Y 7 61Broadway,Suite2301 NewYork NY 10006
HR&AAdvisors,Inc. RealEstateConsultants LegalServices AuthorityContract‐CompetitiveBid 8/1/2019 8/1/2019 Y 3/25/2024 2,000,000.00$ 126,947.50$ 1,366,258.75$ 633,741.25$ 6 N Y 0 99HudsonStreet 3rdFloor NewYork NY 10013
HudsonMeridianConstructionGroup OnCallConstructionManagmentServices ConsultingServices AuthorityContract‐CompetitiveBid 11/21/2019 11/21/2019 Y 6/25/2023 200,000.00$ 22,091.83$ 189,760.37$ 10,239.63$ 17 N Y 5 61Broadway 7thFloor NewYork NY 10006
M&JEngineering,P.C OnCallConstructionManagmentServices ConsultingServices AuthorityContract‐CompetitiveBid 11/20/2019 11/20/2019 Y 3/24/2024 500,000.00$ 96,325.00$ 96,325.00$ 403,675.00
$ 17 N Y 5 2003JerichoTurnpike NewHydePark NY 11040
UrbanEngineersofNewYorkP.C OnCallConstructionManagmentServices ConsultingServices AuthorityContract‐CompetitiveBid 12/12/2019 12/12/2019 Y 3/24/2024 200,000.00$ ‐$‐$ 200,000.00$ 17 N Y 5 7PennPlaza,370SevenAve,Suite1800 NewYork NY 10001
EpicManagementofNY OnCallConstructionManagmentServices ConsultingServices AuthorityContract‐CompetitiveBid 11/26/2019 11/26/2019 Y 3/24/2024 400,000.00$ 113,197.23$ 280,190.96$ 119,809.04$ 17 N Y 5 OneRockefellerPlaza,10thFloor NewYork NY 10020
Holland&Knight,LLP Legalservices LegalServices AuthorityContract‐CompetitiveBid 9/1/2019 9/1/2019 Y 9/24/2023 350,000.00$ 53,220.00$ 212,878.00$ 137,122.03$ 46 N Y 13 31West52ndStreet NewYork NY 10019
ClassicoBuildingMaintenance,Inc. EasternBorderandPierA Other AuthorityContract‐CompetitiveBid 12/15/2019 12/15/2019 Y 10/31/2024 1,500,000.00$ 178,007.73$ 832,428.00$ 667,572.00$ 2 Y Y 2 2580BostonRoad Bronx NY 10467
AlpineConstruction&LandscapingCorp SouthRoute9AMedians‐LandscapeandSprinklerMaintenance Other AuthorityContract‐CompetitiveBid 11/1/2019 11/1/2019 Y 10/31/2024 1,629,289.00$ 341,334.00$ 1,270,896.00$ 358,393.00$ 2 N Y 0 404FifthAvenue NewYork NY 10018
UrbanEngineersofNewYorkP.C OnCallEngineeringandArchictecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 9/15/2020 9/15/2020 Y 11/19/2023 700,000.00$ 121,078.76$ 616,062.29$ 83,937.71$ 12 N Y 4 7PennPlaza,370SevenAve,Suite1800 NewYork NY 10001
StantecConsultingServicesInc. OnCallEngineeringandArchictecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 12/15/2020 12/15/2020 Y 11/19/2023 500,000.00$ 64,561.48$ 136,677.95$ 363,322.05$ 12 N Y 4 475FithAvenue,12thFloor NewYork NY 10017
GoldmanCopelandAssociates,EngineersP.CC OnCallEngineeringandArchictecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 11/25/2020 11/25/2020 Y 11/19/2023 500,000.00$ ‐$‐$ 500,000.00$ 12 N Y 4 229West36thStreet7Floor NewYork NY 10018
DivaCommunications,Inc. WebcastingandVideoProductonServices OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 12/1/2019 12/1/2019 Y 11/30/2022 150,000.00$ 4,447.50$ 76,148.79$ 73,851.21$ 8 Y Y 8 150,000.00$ 630NinthAvenue Suite304 NewYork NY 10036
TetraTechEngineersArchitects&LandscapeArchitectsPCNewYo OnCallEngineering&ArchitecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 12/1/2020 12/1/2020 Y 11/19/2023 300,000.00$ 176,006.43$ 210,683.14$ 89,316.86$ 12 N Y 4 5HanoverSquareSuite1003 NewYork NY 10004
H2MArchitectsandEngineers,LandSurveryingandLandscape,Arc OnCallEngineering&ArchitecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 12/1/2020 12/1/2020 Y 11/19/2023 300,000.00$ 26,944.82$ 58,030.93$ 241,969.07$ 12 N Y 4 538BroadHollowRoad,4thFlooreast Melville NY 11747
WattsArchitecture&Engineering,DPC OnCallEngineering&ArchitecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 8/24/2020 8/24/2020 Y 11/19/2023 300,000.00$ 108,369.68$ 234,210.59
$ 65,789.41$ 12 Y Y 4 95PerryStreet,Suite300 Buffalo NY 14203
EnsignEngineering,P.C OnCallEngineering&ArchitecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 8/24/2020 8/24/2020 Y 11/19/2023 300,000.00$ 75,495.79$ 105,263.71$ 194,736.29$ 12 Y Y 4 1111CalhounAve Bronx NY 10465
SuperstruturesEngineeringandArchitecture,PLLC OnCallEngineeringandArchitecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 8/24/2020 8/24/2020 Y 11/19/2023 300,000.00$ ‐$‐$ 300,000.00$ 12 N Y 4 32AvenueoftheAmericas,13thFloor NewYork NY 10013
McLarenEngineeringGroup OnCallEngineeringandArchitecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 8/31/2020 8/31/2020 Y 11/19/2023 500,000.00$ 3,125.81$ 24,016.49$ 475,983.51$ 12 N Y 4 530ChestnutRidgeRoad WoodcliffLake NJ 7677
RonnetteRileyArchitect,LLC OnCallEngineering&ArchitecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 12/1/2020 12/1/2020 Y 11/19/2023 300,000.00$ ‐$‐$ 300,000.00$ 12 Y Y 4 494EighthAvenue,15thFloor NewYork NY 10001
CBRichardEllis,Inc. CommercialRealEstateBrokerageservices OtherProfessionalServices AuthorityContract‐CompetitiveBid 3/8/2021 3/8/2021 Y 3/6/2024 15,000,000.00$ ‐$‐$ 15,000,000.00$ 6 N Y 1 200ParkAvenue19thFL NewYork NY 10166
CashinAssociates,P.C. OnCallEngineering&ArchitecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 12/1/2020 12/1/2020 Y 11/19/2023 500,000.00$ ‐$ 40,249.50$ 459,750.50$ 12 N Y 4 1200VeteransMemorialHighway Hauppauge NY 11788
M&NEngineering,P.C Phase7PileRemediation‐DesignandEngineering ConsultingServices AuthorityContract‐CompetitiveBid 4/3/2020 4/3/2020 Y 11/1/2023 310,824.87$ 68,469.02$ 291,500.46$ 19,324.41$ 5 N Y 0 P.OBox51760 LosAngeles CA 90051‐0068
LiroProgramandConstructionManagement,PE,P.C SouthBatteryCityParkResiliencyConstruction ConsultingServices AuthorityContract‐CompetitiveBid 3/19/2020 3/19/2020 Y 11/18/2023 7,054,855.27$ 1,274,444.96$ 2,396,584.31$ 4,658,270.96$ 9 N Y 1 3AerialWay Syosset NY 11791
USInternetCorp. Emailaccounthosting OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 8/28/2020 8/28/2020 Y 8/27/2025 300,000.00$ 45,661.42$ 124,155.68$ 175,844.32$ 1 N N 0 300,000.00$ 12450WayzataBlvd. suite315 Minnetonka MN 55305
BankofAmerica BankingServices FinancialServices AuthorityContract‐CompetitiveBid 4/7/2021 4/7/2021 Y 4/6/2026 28,000.00$ ‐$‐$ 28,000.00$ 3 N Y 0 401N.TryonST.NC1‐021‐06‐01 Charlotte NC 28255
NYCPumpsRepairPM,LLCdbaPumpMan Irrigationpumpmaintenance OtherProfessionalServices AuthorityContract‐CompetitiveBid 9/15/2020 9/15/2020 Y 9/14/2023 90,000.00$ 24,167.00$ 36,136.00$ 53,864.00
$ 1 N Y 0 1144UticaAve Brooklyn NY 11203
Hawkins,Delafield&Wood LegalCounseling/BondCriteria LegalServices AuthorityContract‐CompetitiveBid 6/11/2020 6/11/2020 Y 9/24/2023 1,875,000.00$ 18,253.12$ 1,334,171.80$ 540,828.20$ 46 N Y 12 7WorldTradeCenter NewYork NY 10007
AroraandAssocaites,P.C OnCallEngineering&ArchitecturalServices ConsultingServices AuthorityContract‐CompetitiveBid 12/1/2020 12/1/2020 Y 11/19/2023 500,000.00$ ‐$‐$ 500,000.00$ 12 Y Y 4 1200LenoxDrive,Suite200 Lawrenceville NJ 8648
PFMAssetManagement InvestmentAdvisoryServices ConsultingServices AuthorityContract‐CompetitiveBid 10/1/2020 10/1/2020 Y 10/1/2025 1,750,000.00$ 350,000.00$ 1,050,000.00$ 700,000.00$ 2 N Y 1 1735MarketStreet,43rdFloor Philadelphia PA 19103‐7502
VerizonBusinessNetworkServicesInc. Install,Configure&secureNetworkfor75Battery Other AuthorityContract‐Non‐CompetitiveBid 12/1/2020 12/1/2020 Y 11/28/2023 327,303.32$ 66,067.36$ 275,768.24$ 51,535.08$ 1 N N 0 327,303.32$ OneVerizonWay BaskingRidge NJ 7920
CrossfireSoundProductions,LLC Stage&SoundsetupandEquipmentRentalsforPark Other AuthorityContract‐CompetitiveBid 1/22/2021 1/22/2021 Y 1/21/2024 350,000.00$ 91,177.70$ 285,680.50$ 64,319.50$ 7 N Y 0 276MeseroleStreet Brooklyn NY 11206
WestPublishingCorporation SerialsandDatabaseAccess LegalServices AuthorityContract‐Non‐CompetitiveBid 8/15/2020 8/15/2020 Y 8/15/2021 22,658.40$ ‐$ 21,104.65$ 1,553.75$ 1 N N 0 22,658.40$ 620OppermanDrive Eagan MN 55123
AKRF,Inc. HistoricandCulturalResourcesConsultingServices ConsultingServices AuthorityContract‐CompetitiveBid 9/14/2020 9/14/2020 Y 12/30/2023 49,000.00$ ‐$ 32,845.00$ 16,155.00$ 3 N Y 0 440ParkAvenueSouth,7thFloor NewYork NY 10016
VerizonBusinessNetworkServicesInc. NetworkServices200Liberty OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 1/1/2021 1/1/2021 Y 12/30/2023 65,273.52$ 22,409.72$ 62,891.93$ 2,381.59$ 1 N N 0 65,273.52$ OneVerizonWay BaskingRidge NJ 7920
VenusFireProtection&Safety Fireextinguishermaintenance OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 1/1/2021 1/1/2021 Y 12/31/2027 20,000.00$ 2,457.00$ 10,790.00$ 9,210.00$ 1 Y Y 1 20,000.00$ 15921stSt Brooklyn NY 11232
QED,INC. SecurityInformationandEventManagementTool Technology‐Consulting/DevelopmentorSupport AuthorityContract‐CompetitiveBid 12/22/2020 12/22/2020 Y 12/21/2023 54,848.05$ 13,860.00$ 54,848.05$ ‐$ 5 N Y 5 3507thAve,10thfloor NewYork NY 10001
HoguetNewman&Regal,LLP LegalServices LegalServices AuthorityContract‐CompetitiveBid 9/1/2019 9/1/2019 Y 3/25/2023 100,000.00$ ‐$ 18,952.50$ 81,047.50$ 46 N Y 13 OneGrandCentralPlace 60East42ndStreet,4
8
NewYork NY 10165
GenesysEngineeringP.C. PierAAssessment&CurtailmentPlanServices Other AuthorityContract‐Non‐CompetitiveBid 6/15/2021 6/15/2021 Y 1/29/2023 51,800.00$ ‐$ 13,000.00$ 38,800.00$ 0 N N 0 51,800.00$ 629FifthAvenue Bldg.3,Suite111 Pelham NY 10803
MicroForceInc. On‐callconsultingsupportforGreatPlainsandWP ConsultingServices AuthorityContract‐CompetitiveBid 1/13/2021 1/13/2021 Y 1/17/2025 821,680.00$ 81,895.12$ 349,954.88$ 471,725.12$ 1 N Y 0 68S.ServiceRoad,suite100 Melville NY 11747
MohantyGargiuloLLC MunicipalAdvisoryActivities ConsultingServices AuthorityContract‐Non‐CompetitiveBid 2/1/2021 2/1/2021 Y 1/31/2024 330,000.00$ 61,957.45$ 162,457.45$ 167,542.55$ 2 Y Y 2 330,000.00$ 230ParkAve,3rdFloor NewYork NY 10169
GoldbergSegallaLLP Pre‐QualifiedLegalCounsel LegalServices AuthorityContract‐CompetitiveBid 3/12/2021 3/12/2021 Y 3/26/2022 100,000.00$ 1,150.50$ 1,150.50$ 98,849.50$ 46 N Y 12 665MainStreet Buffalo NY 14203
AECOMUSA,Inc BPCFloodResiliencyConsultingEngineerServices ConsultingServices AuthorityContract‐CompetitiveBid 6/10/2021 6/10/2021 Y 3/31/2026 23,369,223.00$ 4,051,811.32$ 11,467,875.77$ 11,901,347.23$ 6 N Y 0 605ThirdAvenue NewYork NY 10158
StellarServices,Inc. MicrosoftSharepointDevelopmentandMaintenance OtherProfessionalServices AuthorityContract‐CompetitiveBid 4/19/2021 4/19/2021 Y 4/18/2024 522,000.00$ 102,487.50$ 288,477.50$ 233,522.50$ 9 N Y 5 70W36thSt.Suite702 NewYork NY 10018
MayerHoffmanMcCann,PC PublicaccountantandAuditServices ConsultingServices AuthorityContract‐CompetitiveBid 3/1/2021 3/1/2021 Y 2/29/2024 622,150.00$ 120,450.00$ 237,950.00$ 384,200.00$ 2 N Y 0 685ThirdAvenue, NewYork NY 10017
Milliman,Inc GASB75OPEBActuarialValuationandReportingServices FinancialServices AuthorityContract‐Non‐CompetitiveBid 9/9/2021 9/9/2021 Y 6/30/2023 16,750.00$ ‐$ 4,500.00$ 12,250.00$ 2 N N 1 16,750.00$ 1301FifthAveSte3800 Seattle WA 98101
AlveoleInc. Beehiveinstallationandcareservices DesignandConstruction/Maintenance AuthorityContract‐Non‐CompetitiveBid 6/29/2021 6/29/2021 Y 6/27/2025 23,200.00$ 5,700.00$ 16,075.00$ 7,125.00$ 2 N N 0 23,200.00$ 2349W.GrandAvenue Chicago IL 60612‐1413
WJEEngineersArchitects,P.C AlphaltGreenLeakForensicEngineering ConsultingServices AuthorityContract‐Non‐CompetitiveBid 3/1/2021 3/1/2021 Y 4/30/2024 45,000.00$ 3,535.78$ 12,007.11$ 32,992.89$ 0 N N 0 45,000.00$ 330PfingstenRoad Northbrook IL 60062
CorporateComputerSolutions BackupforMISComputerSystems/disasterRecovery Technology‐Consulting/DevelopmentorSupport AuthorityContract‐Non‐CompetitiveBid 4/10/2021 4/10/2021 Y 4/8/2023 31,960.51$ ‐$ 31,960.51$ ‐$ 2 N N 1 31,960.51$ 55HalsteadAve Harrison NY 10528
MotorworksCleanVehicles,Inc. Vantagetruckmaintenance&repairservices DesignandConstruct
ion/Maintenance AuthorityContract‐Non‐CompetitiveBid 11/1/2021 11/1/2021 Y 10/31/2024 40,000.00$ ‐$‐$ 40,000.00$ 0 N N 0 40,000.00$ 111SunriseHighway Amityville NY 11701
NewYorkStateIndustriesfortheDisabled DocumentShreddingservices Other AuthorityContract‐Non‐CompetitiveBid 3/31/2022 3/31/2022 Y 3/30/2025 36,000.00$ 364.08$ 526.68$ 35,473.32$ 1 N N 0 36,000.00$ 11ColumbiaCircleDrive Albany NY 12203
ShorelineGraphics,Inc. PrintingservicesforProgramming&BPCA Other AuthorityContract‐Non‐CompetitiveBid 11/12/2021 11/12/2021 Y 11/4/2024 250,000.00$ 59,306.13$ 137,272.25$ 112,727.75$ 5 N N 3 250,000.00$ 7DickersonAvenue Bayville NY 11709
IronMountainInc. Off‐SiteRecordanddatastorage OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 8/1/2021 8/1/2021 Y 7/31/2024 200,000.00$ 66,216.79$ 119,352.20$ 80,647.80$ 4 N N 0 200,000.00$ 1FederalStreet7thFl. Boston MA 2110
NeumericTechnologiesCorporation OnlineDeficiencySystemWebApplicationSupport Technology‐Consulting/DevelopmentorSupport AuthorityContract‐CompetitiveBid 1/1/2022 1/1/2022 Y 12/31/2024 60,000.00$ 2,691.00$ 11,040.00$ 48,960.00$ 3 N Y 0 590ExecutiveDrive LewisCenter OH 43035
BobcatofNewYork,Inc. Machineinspection&repairservices Other AuthorityContract‐Non‐CompetitiveBid 5/20/2022 5/20/2022 Y 5/19/2025 45,000.00$ ‐$ 5,440.77$ 39,559.23$ 1 N N 0 45,000.00$ 58‐64aMauriceAve Maspeth NY 11378
15Five,Inc PerformanceGoalsandEmployeeSurveySoftware ConsultingServices AuthorityContract‐Non‐CompetitiveBid 7/25/2022 7/25/2022 Y 7/25/2023 23,520.00$ ‐$ 23,520.00$ ‐$ 3 N N 0 23,520.00$ DEPTLA25012 Pasadena CA 91185‐5012
VallesVendiolaLLP PerformanceRentandCondoDeficiencyAuditServices Other AuthorityContract‐Non‐CompetitiveBid 3/17/2022 3/17/2022 Y 3/16/2024 225,000.00$ ‐$ 47,075.00$ 177,925.00$ 6 N N 6 225,000.00$ 125MaidenLane,Room508 NewYork NY 10038
AbalonExterminatingCompany,Inc. Pestcontrol Other AuthorityContract‐Non‐CompetitiveBid 3/28/2022 3/28/2022 Y 4/4/2025 25,000.00$ 10,310.00$ 13,940.00$ 11,060.00$ 10 Y Y 8 25,000.00$ 450SeventhAve Suite1402 NewYork NY 10123
CSAGroupNYArchitects&Engineers,PC 200RectorPlaceFitOutProjectClose‐OutService ConsultingServices AuthorityContract‐Non‐CompetitiveBid 4/11/2022 4/11/2022 Y 9/10/2023 59,729.16$ 14,000.45$ 26,914.84$ 32,814.32$ 0 N N 0 59,729.16$ 55Broadway14thFloor NewYork NY 10006
TruViewBSI,LLC VendorBackgroundChecks Other AuthorityContract‐Non‐CompetitiveBid 4/12/2022 4/12/2022 Y 4/11/2023 10,000.00$ 2,100.00$ 2,100.00$ 7,900.00$ 3 N N 0 10,000.00$ 25NewbridgeRoad,Suite210 Hicksville NY 11801
SpruceTechnologyInc.
WebmasterServices Technology‐Consulting/DevelopmentorSupport AuthorityContract‐Non‐CompetitiveBid 7/5/2022 7/5/2022 Y 7/4/2025 325,000.00$ 50,725.00$ 70,595.00$ 254,405.00$ 9 Y Y 7 325,000.00$ 1149BloomfieldAveSteG Clifton NJ 7012
LinguisticaInternational,inc TranslationandInterpretationServices OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 7/1/2022 7/1/2022 Y 6/30/2025 75,000.00$ 42,906.45$ 42,906.45$ 32,093.55$ 6 Y Y 5 75,000.00$ 4250W.5475S Kearns UT 84118
TheManagementCenter ManagingtoChangetheWorldTrainingServices ConsultingServices AuthorityContract‐Non‐CompetitiveBid 6/21/2022 6/21/2022 Y 6/20/2023 28,000.00$ 7,600.00$ 14,600.00$ 13,400.00$ 1 N N 0 28,000.00$ 1920LSTNW,Suite775 Washington DC 20036
BuroHappoldConsultingEngineers,P.C.&Inc. B.P.CSustainabilityConsultingServices ConsultingServices AuthorityContract‐CompetitiveBid 7/13/2022 7/13/2022 Y 7/12/2024 707,400.00$ 492,482.30$ 545,600.11$ 161,799.89$ 3 N Y 0 100Broadway,23rdFl 3rdFloor NewYork NY 10005
NewYorkStateIndustriesfortheDisabled Documentscanningservices Other AuthorityContract‐Non‐CompetitiveBid 9/15/2022 9/15/2022 Y 9/14/2023 45,000.00$ 6,135.78$ 6,135.78$ 38,864.22$ 1 N N 0 45,000.00$ 11ColumbiaCircleDrive Albany NY 12203
JamesHough TemporaryArtInstallation OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 8/18/2022 8/18/2022 Y 8/17/2024 350,000.00$ 160,000.00$ 300,000.00$ 50,000.00$ 1 N N 0 350,000.00$ 2145CentreAvenue Pittsburgh PA 75279
RisaHellerCommunications PublicRelations ConsultingServices AuthorityContract‐CompetitiveBid 8/1/2022 8/1/2022 Y 7/31/2023 120,000.00$ 100,000.00$ 120,000.00$ ‐$ 10 N Y 4 233Broadway,#2701 NewYork NY 10279
VividMarketingGroup.LLC/dbaVividHealth CPRandFirstAidTrainingServices OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 10/14/2022 10/14/2022 Y 10/13/2025 15,000.00$ 6,570.00$ 6,570.00$ 8,430.00$ 5 N N 1 15,000.00$ 138‐38222ndSt. Laurelton NY 11413
CityStoreGatesMfg.Corp. Rollupdoormaintenanceandrepairservices DesignandConstruction/Maintenance AuthorityContract‐Non‐CompetitiveBid 2/3/2023 2/3/2023 Y 2/2/2024 40,000.00$ 22,560.00$ 22,560.00$ 17,440.00$ 1 N N 0 40,000.00$ 15‐20129thStreet CollegePoint NY 11356
PFMFinancialAdvisorysLLC Pre‐QualifiedPoolofMunicipalAdvisors ConsultingServices AuthorityContract‐CompetitiveBid 1/31/2023 1/31/2023 Y 2/1/2026 300,000.00$ ‐$‐$ 300,000.00$ 4 N Y 2 1735MarketStreet43Fl Philadelphia PA 19103
SycamoreAdvisors,LLC SycamorePreQualifiedPoolofMunicipalAdvisors ConsultingServices AuthorityContract‐CompetitiveBid 12/15/2022 12/15/2022 Y 12/14/2025 100,000.00$ ‐$‐$ 100,000.00$ 4 Y Y 2 612East13thStreet Indianapolis IN 46202
AcaciaFinanceGroup,Inc Pre‐QualifiedPoolofMunicipalAdvisors ConsultingServices AuthorityContract‐CompetitiveBid 9/19/2022 9/19/2022 Y 9/18/2025 300,000.00$ 19,137.50$ 19,137.50$ 280,862.50$ 4 Y Y 2 6000MidlanticDr,Suite410 MtLaurel NJ 8054
IntegrityGeneralContractorInc. WasteCollectionServices OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 10/4/2022 10/4/2022 Y 10/3/2025 75,000.00$ 72,388.20$ 72,388.20$ 2,611.80$ 3 Y Y 3 75,000.00$ 15OrchardTerrace Monroe NY 10950
LamontFinancialServicesCorporation LamontPreQulaifiedPoolofMunicipalAdvisors ConsultingServices AuthorityContract‐CompetitiveBid 12/15/2022 12/15/2022 Y 12/14/2025 100,000.00$ 1,400.00$ 1,400.00$ 98,600.00$ 4 N Y 2 75LaneRoad Fairfield NJ 17004
TheF.A.BartlettTreeExpertCompany Treecareservices OtherProfessionalServices AuthorityContract‐CompetitiveBid 10/24/2022 10/24/2022 Y 10/18/2025 250,500.00$ 29,145.00$ 29,145.00$ 221,355.00$ 2 N Y 0 1290EastMainSt Stamford CT 6905
UnitedRentals(NorthAmerica),Inc. On‐callaerialliftmaintenanceandrepairservice OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 12/7/2022 12/7/2022 Y 12/6/2025 45,000.00$ 1,246.96$ 1,246.96$ 43,753.04$ 1 N N 0 45,000.00$ 100FirstStamfordPlace,Suite70 Stamford CT 6902
W&EBaumBronzeTAbletCorp PoliceMemorialEtchingServices ConsultingServices AuthorityContract‐Non‐CompetitiveBid 10/20/2022 10/20/2022 Y 1/19/2023 49,999.95$ 49,999.95$ 49,999.95$ ‐$ 0 N N 0 49,999.95$ 89BannardStreet Freehold NJ 7728
HealthFitnessConceptsRN,LLC FluVaccineAdminsitration ConsultingServices AuthorityContract‐Non‐CompetitiveBid 9/13/2022 9/13/2022 Y 4/11/2023 2,000.00$ 1,848.00$ 1,848.00$ 152.00$ 3 N N 0 2,000.00$ 45KnollwoodRoad,Suite504 Elmsford NY 10523
Milliman,Inc
OPEBActuaryServices ConsultingServices AuthorityContract‐Non‐CompetitiveBid 3/21/2023 3/21/2023 Y 4/30/2025 20,000.00$ 12,250.00$ 12,250.00$ 7,750.00$ 2 N N 1 20,000.00$ 1301FifthAveSte3800 Seattle WA 98101
DivaCommunications,Inc. Webcasting&VideoProduction ConsultingServices AuthorityContract‐Non‐CompetitiveBid 11/14/2022 11/14/2022 Y 1/23/2026 120,000.00$ 38,237.50$ 38,237.50$ 81,762.50$ 4 Y Y 4 120,000.00$ 630NinthAvenue Suite304 NewYork NY 10036
MasonTechnologies,Inc. 6RiverTerraceAVSystemRepair Other AuthorityContract‐Non‐CompetitiveBid 3/21/2023 3/21/2023 Y 3/20/2024 1,600.00$ 1,600.00$ 1,600.00$‐$ 1 Y Y 1 1,600.00$ 517CommackRd DeerPark NY 11729
HiraniEngineering&LandSurveyingP.C 20BatteryPlace/WagnerParkPavillionDemolition ConsultingServices AuthorityContract‐CompetitiveBid 2/24/2023 2/24/2023 Y 8/24/2023 49,500.00$ ‐$‐$ 49,500.00$ 1 Y Y 1 120WestJohnStreet Hicksville NY 11801
BradfordConstrucitonCorpofNewYork ResilliencyAdvisoryServices ConsultingServices AuthorityContract‐CompetitiveBid 12/30/2022 12/30/2022 Y 12/1/2023 49,500.00$ 46,209.10$ 46,209.10$ 3,290.90$ 1 N Y 0 42West39thStreet7thFloor NewYork NY 10018
BilingualProfessionalAgency,Inc ASLInterpretationServices OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 8/29/2023 8/29/2023 Y 8/28/2026 15,000.00$ ‐$‐$ 15,000.00$ 7 Y Y 1 15,000.00$ 1663East17thSt. Brookyn NY 11229
FleetPump&ServiceGroup,Inc 75BatteryPlaceBoilerInspection ConsultingServices AuthorityContract‐Non‐CompetitiveBid 5/1/2023 5/1/2023 Y 4/30/2026 43,000.00$ 6,600.00$ 6,600.00$ 36,400.00$ 0 N N 0 43,000.00$ 6InternationalDrive,Suite210 RyeBrook NY 10573
ABMIndustryGroups,LLC 200LibertyJanitorialServices Other AuthorityContract‐Non‐CompetitiveBid 1/1/2023 1/1/2023 Y 12/31/2025 303,604.92$ 64,223.90$ 64,223.90$ 239,381.02$ 1 N N 0 303,604.92$ OneLibertyPlaza,7thFl NewYork NY 10006
TwinPeaks,Incorporated 200RectorPlaceFitoutClosedoutServices ConsultingServices AuthorityContract‐Non‐CompetitiveBid 3/14/2023 3/14/2023 Y 3/13/2024 20,000.00$ 6,720.00$ 6,720.00$ 13,280.00$ 0 N N 0 20,000.00$ 37‐3930thStreet LongIslandCity NY 11101
EarthMattersNY Governor'sIslandComposting OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 9/22/2023 9/22/2023 Y 9/22/2025 2,000.00$ ‐$‐$ 2,000.00$ 1 N N 0 2,000.00$ 758EnrightRd NewYork NY 10004
QuietEvents,Inc. DJServicesforSilentEvents Other AuthorityContract‐Non‐CompetitiveBid 4/17/2023 4/17/2023 Y 4/16/2024 24,000.00$ 18,307.33$ 18,307.33$ 5,692.67
$ 3 N N 0 24,000.00$ 21‐3532ndStreet Astoria NY 11105
SuziMusic,LLC SuziMusicChildrensMusicalPerformances Other AuthorityContract‐Non‐CompetitiveBid 4/2/2023 4/2/2023 Y 4/1/2024 10,000.00$ 1,000.00$ 1,000.00$ 9,000.00$ 1 N N 0 10,000.00$ 45118thStreet Brooklyn NY 11215
LouisF.Gallo GalloChildren’sMusicalPerformances Other AuthorityContract‐Non‐CompetitiveBid 4/2/2023 4/2/2023 Y 4/1/2024 10,000.00$ 1,555.00$ 1,555.00$ 8,445.00$ 1 N N 0 10,000.00$ 2‐19BerdanAvenue FairLawn NJ 7410
WilliamKeyWilde,Jr ChildrensMusicalPerformances Other AuthorityContract‐Non‐CompetitiveBid 4/2/2023 4/2/2023 Y 4/1/2024 10,000.00$ 500.00$ 500.00$ 9,500.00$ 1 N N 0 10,000.00$ 2SkyManorRd Pittstown NJ 8867
GolondrinaLLC GolondrinaChildren'sMusicalPerformance Other AuthorityContract‐Non‐CompetitiveBid 4/2/2023 4/2/2023 Y 4/1/2024 10,000.00$ 300.00$ 300.00$ 9,700.00$ 1 N N 0 10,000.00$ 47HudsonPlace FL3 Weehawken NJ 7086
Fried,Frank,Harris,Shriver&JacobsonLLP LegalCounsel LegalServices AuthorityContract‐CompetitiveBid 12/1/2022 12/1/2022 Y 12/1/2023 1,000,000.00$ 999,833.50$ 999,833.50$ 166.50$ 42 N Y 4 OneNewYorkPlaza NewYork NY 10004
AmaraconTesting&Inspections,LLC SouthB.P.CResiliency‐SpecialInspection&Labor ConsultingServices AuthorityContract‐CompetitiveBid 5/10/2023 5/10/2023 Y 11/10/2025 1,031,250.00$ 26,530.00$ 26,530.00$ 1,004,720.00$ 8 Y Y 3 2CommercialStreet Hicksville NY 11801
AlpineConstruction&LandscapingCorp Route9APlantReplacement OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 5/15/2023 5/15/2023 Y 12/31/2023 319,260.00$ 304,830.00$ 304,830.00$ 14,430.00$ 1 N N 0 319,260.00$ 404FifthAvenue NewYork NY 10018
WassermanLawLLP EEOInvestigationServices ConsultingServices AuthorityContract‐Non‐CompetitiveBid 6/9/2023 6/9/2023 Y 6/15/2024 40,000.00$ 1,000.00$ 1,000.00$ 39,000.00$ 3 Y Y 2 40,000.00$ 69LudlowDrive Chappaqua NY 10514
DewberryEngineers,inc Owner'sRepresentativeServicesforB.PC.Resiliency ConsultingServices AuthorityContract‐Non‐CompetitiveBid 6/7/2023 6/7/2023 Y 6/6/2024 500,000.00$ 46,473.90$ 46,473.90$ 453,526.10$ 0 N N 0 500,000.00$ 132West31Street,Suite301 NewYork NY 10001
MuseumofJewishHeritage‐LivingMemorialtotheHolocaus ASeriesofAssortedInPersonPublicEvent OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 6/22/2023 6/22/2023 Y 10/31/2023 52,150.00$ ‐$‐$ 52,150.00$ 0 N N 0 52,150.00$ 36BatteryPlace NewYork NY 10280
MakedaDavis MakedaDavisArtTalkGuide Other AuthorityContract‐Non‐CompetitiveBid 6/28/2023 6/28/2023 Y 6/16/2024 3,500.00$ 512.50$ 512.50$ 2,987.50$ 1 N N 0 3,500.00
$ 111230thDrive Astoria NY 11102
PhillipsNizerLLP Realestatetaxcertioraricounsel Other AuthorityContract‐Non‐CompetitiveBid 6/14/2023 6/14/2023 Y 6/13/2024 35,000.00$ ‐$‐$ 35,000.00$ 3 N N 0 35,000.00$ 485LexingtonAvenue NewYork NY 10017
BauerOfficeSolutions,Inc. PhotocopierLeaseandService Other AuthorityContract‐Non‐CompetitiveBid 8/14/2023 8/14/2023 Y 8/13/2026 49,000.00$ 1,377.00$ 1,377.00$ 47,623.00$ 10 N N 0 49,000.00$ 6Westchester Elmsford NY 10523
VerizonBusinessNetworkServicesInc. VerizonFortinetUpgrade Technology‐Software AuthorityContract‐Non‐CompetitiveBid 7/13/2023 7/13/2023 Y 7/11/2024 8,500.00$ ‐$‐$ 8,500.00$ 1 N N 0 8,500.00$ OneVerizonWay BaskingRidge NJ 7920
RisaHellerCommunications PublicRelations&StrategicCommunications ConsultingServices AuthorityContract‐Non‐CompetitiveBid 8/1/2023 8/1/2023 Y 7/31/2026 396,000.00$ 22,000.00$ 22,000.00$ 374,000.00$ 6 N N 5 396,000.00$ 233Broadway,#2701 NewYork NY 10279
ArtBridgeProjects,Inc CityCanvasArtFencingforthesouthBPCResiliencyProject ConsultingServices AuthorityContract‐Non‐CompetitiveBid 8/4/2023 8/4/2023 Y 5/3/2024 17,000.00$ ‐$‐$ 17,000.00$ 0 N N 0 17,000.00$ 526West26thStreet,Suite502 NewYork NY 10001
HarrisRandLusk President&CEOExecutiveSearch ConsultingServices AuthorityContract‐Non‐CompetitiveBid 7/26/2023 7/26/2023 Y 7/25/2024 100,000.00$ 66,666.00$ 66,666.00$ 33,334.00$ 1 N N 0 100,000.00$ 1002CoveRoad Mamaroneck NY 10543
TheCenterForNewYorkNeighborhood,inc CondominiumGroundRentAssistanceProgramDesign ConsultingServices AuthorityContract‐CompetitiveBid 9/14/2023 9/14/2023 Y 9/13/2024 156,740.00$ ‐$‐$ 156,740.00$ 2 N Y 0 55BoardStreet,10thFl. NewYork NY 10004
JacobBernardSanders StringsontheHudsonPerformance Other AuthorityContract‐Non‐CompetitiveBid 8/22/2023 8/22/2023 Y 10/5/2023 5,000.00$ 5,000.00$ 5,000.00$‐$ 1 N N 0 5,000.00$ 4250NMarineDr.#1335 Chicago IL 60613
IROXXENTERTAINMENT,LLC IROXXEntertainmentMusicalPerformances Other AuthorityContract‐Non‐CompetitiveBid 9/1/2023 9/1/2023 Y 9/1/2024 10,000.00$ 4,000.00$ 4,000.00$ 6,000.00$ 1 N N 0 10,000.00$ 6050KennedyBoulevardE#19H WestNewYork NJ 7093
GreenbergTraurig,LLP LegalCounsel LegalServices AuthorityContract‐CompetitiveBid 6/12/2023 6/12/2023 Y 4/12/2026 100,000.00$ ‐$‐$ 100,000.00$ 42 N Y 6 OneVanderbiltAve NewYork NY 10017
SivePagetRieselPC LegalCounsel LegalServices AuthorityContract‐CompetitiveBid 4/12/2023 4/12/2023 Y 4/12/2026 200,000.00
$ ‐$‐$ 200,000.00$ 42 N Y 6 560LexingtonAvenue 15thfl NewYork NY 10022
SchoemanUpdike&Kaufman&GerberLLP LegalServicesEnvironmental,Labor&Employment LegalServices AuthorityContract‐CompetitiveBid 4/12/2023 4/12/2023 Y 4/12/2026 350,000.00$ ‐$‐$ 350,000.00$ 42 Y Y 6 551FifthAvenue 12thfl NewYork NY 10176
Holland&Knight,LLP LegalCounsel&Legalservices LegalServices AuthorityContract‐CompetitiveBid 4/12/2023 4/12/2023 Y 4/12/2026 100,000.00$ ‐$‐$ 100,000.00$ 42 N Y 6 31West52ndStreet NewYork NY 10019
HoguetNewman&Regal,LLP LegalCounsel LegalServices AuthorityContract‐CompetitiveBid 4/12/2023 4/12/2023 Y 4/12/2026 100,000.00$ ‐$‐$ 100,000.00$ 42 N Y 6 OneGrandCentralPlace 60East42ndStreet,4
8
NewYork NY 10165
Fried,Frank,Harris,Shriver&JacobsonLLP LegalCounsel LegalServices AuthorityContract‐CompetitiveBid 3/1/2023 3/1/2023 Y 4/12/2026 1,500,000.00$ 851,166.78$ 851,166.78$ 648,833.22$ 42 N Y 6 OneNewYorkPlaza NewYork NY 10004
CarterLedyard&MilburnLLP LegalCounsel LegalServices AuthorityContract‐CompetitiveBid 4/12/2023 4/12/2023 Y 4/12/2026 250,000.00$ ‐$‐$ 250,000.00$ 42 N Y 6 2WallStreet NewYork NY 10005
Bond,Schoeneck&KingPLLC LegalServicesEnvironmental,Labor&Employment LegalServices AuthorityContract‐CompetitiveBid 4/12/2023 4/12/2023 Y 4/12/2026 100,000.00$ ‐$‐$ 100,000.00$ 42 N Y 6 1010FranklinAvenue Suite200 GardenCity NY 11530‐2900
SuzanneMcCoy TheatricalPerformances Other AuthorityContract‐Non‐CompetitiveBid 10/6/2023 10/6/2023 Y 10/12/2023 12,000.00$ 12,000.00$ 12,000.00$ ‐$ 1 N N 0 12,000.00$ 47ReevePlace,#12 Brooklyn NY 11218
UrbanEngineersofNewYorkP.C B.P.CResiliencyProgramAdvisoryServices ConsultingServices AuthorityContract‐CompetitiveBid 10/25/2023 10/25/2023 Y 8/16/2026 300,000.00$ ‐$‐$ 300,000.00$ 7 N Y 2 7PennPlaza,370SevenAve,Suite1800 NewYork NY 10001
HealthFitnessConceptsRN,LLC VaccineAdministration Other AuthorityContract‐Non‐CompetitiveBid 9/27/2023 9/27/2023 Y 3/31/2024 2,000.00$ ‐$‐$ 2,000.00$ 2 N N 0 2,000.00$ 45KnollwoodRoad,Suite504 Elmsford NY 10523
WindelsMarxLane&MittendorfLLP LegalCounselGeneralLitigation&More LegalServices AuthorityContract‐CompetitiveBid 4/12/2023 4/12/2023 Y 4/12/2026 500,000.00$ ‐$‐$ 500,000.00$ 42 N Y 6 156West56thStreet 22ndfl NewYork NY 10019
W&EBaumBronzeTAbletCorp StoneEngravingServices OtherProfessionalServices AuthorityContract‐CompetitiveBid 9/26/2023 9/26/2023 Y 9/25/2024 170,000.00$ ‐$‐$ 170,000.00$ 1 N Y 0 89BannardStreet Freehold NJ 7728
MatrixNewWorldEngineering,LandSurveyingandLandscapeArchi BPCResiliencyProgramAdvisoryServices ConsultingServices AuthorityContract‐CompetitiveBid 10/31/2023 10/31/2023 Y 8/16/2026 300,000.00$ ‐$‐$ 300,000.00$ 7 N Y 2 26ColumbiaTurnpike,2ndFloor FlorhamPark NJ 7932
BatteryPlaceGreen,LLC PortionofBPCSite3Lease OtherProfessionalServices AuthorityContract‐CompetitiveBid 8/17/2006 8/17/2006 Y 6/1/2069 8,269,075.00$ ‐$ 8,249,276.00$ 19,799.00$ 0 N Y 0 1050FranklinAvenue,Suite200 C/OAlbaneseOrganiza GardenCity NY 11530
AllianceForDowntownNewYork,Inc. WI‐FIExpansioninBPCPierAPlaza Other AuthorityContract‐Non‐CompetitiveBid 7/19/2018
7/19/2018 Y 9/30/2024 398,240.00$ 37,000.00$ 337,907.00$ 60,333.00$ 1 N N 0 398,240.00$ 120Broadway,Suite3340 NewYork NY 10271
UniversalProtectionServices,LLC/DBAAlliedUniversalSecurity ComprehensiveSecurityServices OtherProfessionalServices AuthorityContract‐CompetitiveBid 11/20/2019 11/20/2019 Y 11/19/2024 15,000,000.00$ 2,401,859.54$ 8,741,150.50$ 6,258,849.50$ 6 N Y 1 P.OBox828854 Philadelphia PA 19182‐8854
TheTrustOfGovernorsIsland Off‐SiteStorage OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 12/20/2019 12/20/2019 Y 12/21/2025 152,468.00$ 40,431.10$ 150,511.10$ 1,956.90$ 0 N N 0 152,468.00$ 10SouthStreet,Slip7 NewYork NY 10004
AllianceForDowntownNewYork,Inc. DowntownConnectionBusServices OtherProfessionalServices AuthorityContract‐Non‐CompetitiveBid 1/1/2021 1/1/2021 Y 12/31/2024 2,951,200.00$ 773,000.00$ 2,137,500.00$ 813,700.00$ 0 N N 0 2,951,200.00$ 120Broadway,Suite3340 NewYork NY 10271
DeborahBradleyConstructionCompany OnCallGeneralContractingServices DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 6/24/2019 6/24/2019 Y 1/29/2024 2,750,000.00$ 781,662.91$ 2,426,796.63$ 323,203.37$ 6 Y Y 1 481ManhattanAvenue 11thFl NewYork NY 10027
PaulJ.Scariano,Inc. OnCallGeneralContractingServices DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 7/30/2019 7/30/2019 Y 6/24/2022 250,000.00$ ‐$ 230,986.73$ 19,013.27$ 6 N Y 1 12PotterAvenue NewRochelle NY 10801
D'OnofrioGeneralContractorsCorp. OnCallGeneralContractingServices DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 7/17/2019 7/17/2019 Y 1/29/2024 1,650,000.00$ 191,250.15$ 1,431,030.88$ 218,969.12$ 6 N Y 1 20228THStreet Brooklyn NY 11232
GreenwayU.S.A,LLC OnCallGeneralContractingServices DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 7/1/2020 7/1/2020 Y 1/29/2024 650,000.00$ ‐$ 450,746.00$ 199,254.00$ 5 N Y 2 264W40thStreetSuite#1101 NewYork NY 10018
SpecialtyConstrucitonSystems,Inc BPCBallfield&CommunityCenterResiliency DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 3/3/2021 3/3/2021 Y 6/30/2022 5,207,000.00$ ‐$ 4,833,264.82$ 373,735.18$ 4 N Y 2 100PearlStreet MountVernon NY 10550
StalcoConstruction,Inc. OnCallGeneralContractingServices DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 4/15/2021 4/15/2021 Y 1/28/2024 750,000.00$ 111,190.00$ 111,190.00$ 638,810.00$ 6 N Y 2 1316MotorParkway Islandia NY 11749
BrickensConstruction,Inc. NYCPoliceMemorialExpansionGCServices DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 3/8/2021 3/8/2021 Y 7/31/2022 2,164,643.79$ ‐$ 2,164,643.79$ ‐$ 6 N Y 1 801McLeanAvenue Yonkers NY 10704
E.W.HowellCo,LLC SouthB.P.CResiliencyProjectWagnerParkPavillion DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 10/21/2022 10/21/2022 Y 2/29/2024 68,813,459.00$ 5,081,172.51$ 5,645,747.23$ 63,167,711.77$ 4 N Y 1 245NewtownRoadSuite600 Plainview NY 11803
PosillicoBoveJointVenture SouthB.P.CResiliencyProjectWagnerParkMJHSite DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 1/26/2023 1/26/2023 Y 8/30/2025 74,653,200.00
$ 6,976,968.08$ 7,752,186.76$ 66,901,013.24$ 6 N Y 1 1750NewHighway Farmingdale NY 11735
TurnerConstructionCompany ProgressiveDesignBuildServicesforNorth/West DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 7/28/2022 7/28/2022 Y 11/1/2024 81,768,304.00$ 25,184,556.18$ 25,184,556.18$ 56,583,747.82$ 3 N Y 0 375HudsonStreet,6thFloor NewYork NY 10014
FingerLakesInsdustrialContractingCorp. PierAGeothermalPipingReplacementCorp DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 1/23/2023 1/23/2023 Y 12/29/2023 355,145.00$ 81,167.75$ 88,897.50$ 266,247.50$ 3 Y Y 3 3195EastBayardStreetExt SenecaFalls NY 13148
ZenaElectric,Inc 200RectorPlaceFitoutCloseoutServicesElectricalWork DesignandConstruction/Maintenance AuthorityContract‐Non‐CompetitiveBid 3/14/2023 3/14/2023 Y 3/13/2024 46,249.00$ ‐$‐$ 46,249.00$ 0 N N 0 46,249.00$ 179TompkinsAvenue Brooklyn NY 11206
SLSCO,Ltd/dbaBatteryParkConstructors SouthB.P.CResiliencyPierAPlaza DesignandConstruction/Maintenance AuthorityContract‐CompetitiveBid 5/11/2023 5/11/2023 Y 11/30/2025 73,593,000.00$ 1,885,018.63$ 1,885,018.63$ 71,707,981.37$ 6 N Y 0 6702BroadwayPOBox17017 Galveston TX 77554
AmericanExpress Cardservices Other NonContractProcurement/PurchaseOrder 96,200.34$ N ExpressCashOperations P.O.Box1270 Newark NJ 07101‐1270
AutomaticDataProcessing Payrollservices OtherProfessionalServices NonContractProcurement/PurchaseOrder 23,337.06$ N P.O.Box842875 Boston MA 02284‐2875
MunicipalCreditUnion CreditUnion Other NonContractProcurement/PurchaseOrder 215,855.60$ N 22CortlandtStreet Attn:CecilyMoore‐Pay NewYork NY 10007‐3107
NYSEmployees'Health Healthanddentalinsurance StaffingServices NonContractProcurement/PurchaseOrder 4,154,039.58$ N EmployeeBenefitsDivision‐Agency POBox645481 Cincinnati OH 45264‐5481
NYSEmpl.Ret.System NYSEmployeeRetirement StaffingServices NonContractProcurement/PurchaseOrder 501,933.74$ N Gov.SmithStateOfficeBldg Albany NY 12244‐0163
NewYorkCityWaterBoard Waterutilities Other NonContractProcurement/PurchaseOrder 552,919.38$ N P.O.Box11863 Newark NJ 07101‐8163
NYSIFWorkers'Compensation Workercompensation OtherProfessionalServices NonContractProcurement/PurchaseOrder 225,279.00$ N POBox5238 NewYork NY 10008
BrookfieldPropertiesOneWFCCo.LLC Electricutilitiesandrent Commodities/Supplies NonContractProcurement/PurchaseOrder 1,621,061.07$ N USCommercialOperations 3WorldFinancialCent
e
NewYork NY 10281‐1021
ConEdison Electricutilities OtherProfessionalServices NonContractProcurement/PurchaseOrder 23,183.81$ N JafStation P.O.Box1702 NewYork NY 10116‐1702
TheBankofNewYork Financialservices FinancialServices NonContractProcurement/PurchaseOrder 20,500.00$ N P.O.Box392013 CorporateTrustBilling Pittsburgh PA 15251‐9013
SentryElectricLLC Scrubbedglobepolycarbonate Commodities/Supplies NonContractProcurement/PurchaseOrder 15,780.00$ N 185BuffaloAve. Freeport NY 11520
Moody'sInvestor'sServ. Ratingagencyfees OtherProfessionalServices NonContractProcurement/PurchaseOrder 12,000.00$ N POBox102597 Atlanta GA 30368‐0597
NYSDeptofTax.&Finance Costrecovery Other NonContractProcurement/PurchaseOrder 8,893,000.00$ N POBox22119 DvsnoftheTreasury‐A
c
Albany NY 12201‐2119
NYSOfficeofGeneralServices Corpandpublicpropertyinsurance ConsultingServices NonContractProcurement/PurchaseOrder 6,292,518.58$ N EmpireStatePlaza P.O.Box2166 Albany NY 12220
DellMarketingL.P. M365License Technology‐Consulting/DevelopmentorSupport NonContractProcurement/PurchaseOrder 110,506.75$ N BOX371964 Pittsburgh PA 15250‐7964
NYS&LocalEmployees'RetirementSystem Pensionretirement Other NonContractProcurement/PurchaseOrder 1,122,750.00$ N Gov.SmithS.OfficeBuilding 110StateStreet Albany NY 12244
FundfortheCityofNewYork Corporatemembership Other NonContractProcurement/PurchaseOrder 7,500.00$ N POBox20094 NewYork NY 10129
BloombergFinanceLP Subscription Technology‐Consulting/DevelopmentorSupport NonContractProcurement/PurchaseOrder 21,915.00$ N 731LexingtonAve NewYork NY 10022
MuseumofJewishHeritage SBPCRReimbursement Other NonContractProcurement/PurchaseOrder 158,315.50$ N OperationsDepartment 36BatteryPlace NewYork NY 10280
Hawkins,Delafield&Wood Arbitragerebate Other NonContractProcurement/PurchaseOrder 11,000.00$ N 7WorldTradeCenter 250GreenwichStreet, NewYork NY 10007
VerizonWireless Cellcharges TelecommunicationEquipmentorServices NonContractProcurement/PurchaseOrder 95,637.26$ N P.O.Box408 Newark NJ 07101‐0408
TheBroadsheetInc. BPCAads Other NonContractProcurement/PurchaseOrder 52,030.00$ N 395SouthEndAve. 30C NewYork NY 10280‐1080
Verizon Officeservices TelecommunicationEquipmentorServices NonContractProcurement/PurchaseOrder 24,291.48$ N P.O.Box15124 Albany NY 12212‐5124
ThomsonReuters‐West Softwaresubscription Technology‐Software NonContractProcurement/PurchaseOrder 23,534.60$ N P.O.Box6292 CarolStream IL 60197‐6292
CityofNewYorkdbaDepartmentofParks&Recreation Treeremoval OtherProfessionalServices NonContractProcurement/PurchaseOrder 3,129,000.00$ N 8305thAvenue,Suite260 NewYork NY 10065
CompulinkTechnologiesInc. Computersandlaptops Technology‐Hardware NonContractProcurement/PurchaseOrder 68,998.60$ N 260West39thStreet Suite302 NewYork NY 10018
NewYorkPowerAuthority ElectricutilitiesforvariouslocationsinBPC Other NonContractProcurement/PurchaseOrder 617,983.21$
N 123MainStreet WhitePlains NY 10601
SkanskaUSABuildingInc. BPCProposalAgreement Other NonContractProcurement/PurchaseOrder 275,000.00$ N 389InterpaceParkwaySuite5 Parsippany NJ 7054
PryorLearningSolutions,Inc.dba/FredPryorSeminars Projectmanagementtraining OtherProfessionalServices NonContractProcurement/PurchaseOrder 8,199.00$ N 5700BroadmoorStreet Ste300 Missions KS 66202
FitchRatings,Inc. Ratingagencyfees Other NonContractProcurement/PurchaseOrder 5,000.00$ N POBox90046 Prescott AZ 86304‐9046
BikeNewYork,Inc. Securitydepositrefund Other NonContractProcurement/PurchaseOrder 5,000.00$ N 140E45THStreet,Suite2002 NewYork NY 10017
FordhamUniversity‐WFUV River&Bluesads Other NonContractProcurement/PurchaseOrder 30,579.00$ N 441E.FordhamRoad Bronx NY 10458
NYSDeferredCompensationPlan Deferredcompensation Other NonContractProcurement/PurchaseOrder 750,884.54$ N P.O.Box182797 AdminServiceAgency, Columbus OH 43218‐2797
BenefitAnalysis,Inc. Employeetransitchecksandflexiblespendingaccounts OtherProfessionalServices NonContractProcurement/PurchaseOrder 554,426.11$ N P.O.Box527 Nutley NJ 7110
PFMSwapAdvisorsLLC AnnualSWAPmonitoring FinancialServices NonContractProcurement/PurchaseOrder 13,000.00$ N 2LoganSquare,suite1600 18thandArchStreets Philadelphia PA 19103‐2770
BearSternsSecuritiesCorp Reservefundagreementfee FinancialServices NonContractProcurement/PurchaseOrder 5,878.95$ N 1MetrotechCenterN Brooklyn NY 11201
OpenText,Inc. Softwarelicenserenewal Technology‐Software NonContractProcurement/PurchaseOrder 9,073.73$ N 24685NetworkPlace Chicago IL 60673‐1246
DeriveTechnologiesLLC Subscriptionlicense Technology‐Software NonContractProcurement/PurchaseOrder 17,787.00$ Y 40WallStreet,20thFloor NewYork NY 10005
SnappySolutions,Inc. Cleaningsupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 11,489.75$ N POBox305 RochellePark NJ 7662
Verizon Officeservices TelecommunicationEquipmentorServices NonContractProcurement/PurchaseOrder 15,182.39$ N P.O.Box15124 Albany NY 12212‐5124
AsphaltGreen,Inc. Utilityreimbursement Other NonContractProcurement/PurchaseOrder 18,417.59$ N
555East90thStreet NewYork NY 10128
SchoolSpecialty,Inc. Artsupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 15,545.77$ N 32656CollectionCenterDr. Chicago IL 60693‐0326
DigitalAssuranceCertification,LLC Ratingagencyfees Other NonContractProcurement/PurchaseOrder 7,250.00$ N 315EastRobinsonStreet Suite300 Orlando FL 32801
VerizonBusiness Install,Configure&SecureNetwork75Battery Other NonContractProcurement/PurchaseOrder 162,861.16$ N POBox15043 Albany NY 12212‐5043
Verizon Officeservices TelecommunicationEquipmentorServices NonContractProcurement/PurchaseOrder 37,298.68$ N POBox4820 Trenton NJ 08650‐4820
Intivity Maintenancesupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 6,411.89$ Y 106DespatchDr. Suite2 EastRochester NY 14445
TIAA‐CREF NYSRetirementWithold Other NonContractProcurement/PurchaseOrder 93,909.46$ N 8500AndrewCarnegieBlvd. Charlotte NC 28262
FMRLLCdba/FidelityInvestmentsInstitutionalOperationsCompan Financialservices FinancialServices NonContractProcurement/PurchaseOrder 93,005.13$ N 82DevonshireStreet,F3B Boston MA 2109
MarinersCoveSiteBAssociates Rent‐Regatta/MarinersCove Other NonContractProcurement/PurchaseOrder 204,977.02$ N POBox350 OARDEP:P'R Emerson NJ 7630
UnitedPrintGroup Uniforms Commodities/Supplies NonContractProcurement/PurchaseOrder 7,797.09$ N 45‐2347thStreet Woodside NY 11377
Uline,Inc. Maintenancesupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 10,755.00$ N POBox88741 Chicago IL 60680‐1741
VanEngelen&Co.Inc. Assortedplants Other NonContractProcurement/PurchaseOrder 20,081.77$ N 23TulipDrive Bantam CT 6750
ConEdison Electricutilities OtherProfessionalServices NonContractProcurement/PurchaseOrder 14,345.98$ N JaffStation POBox1702 NewYork NY 10116‐1702
EdgeElectronics,Inc. Maintenancesupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 49,483.48$ Y 75OrvilleDrive Bohemia NY 11716
F&FIndustrialEquipCorp. Maintenancesupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 6,935.50$ N 195TowerDrive Middletown NY 10941
ThreeGal'sIndustrial,LLC‐dba3GalsIndustrial Electricalsup
plies Commodities/Supplies NonContractProcurement/PurchaseOrder 14,826.30$ Y 214AnsticeStreet OysterBay NY 11771
BoroSawmill&TimberCo. Sitematerials Commodities/Supplies NonContractProcurement/PurchaseOrder 8,167.50$ N 139RyersonAvenue Wayne NJ 7470
BedsandBorders,Inc. Assortedannuals Other NonContractProcurement/PurchaseOrder 7,071.12$ N 600LaurelLane Laurel NY 11948
NorthernTool&Equip.dba/BlueTarpFinancialInc. Equipmentsupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 7,383.88$ N 1MonumentSq. Suite800 Portland ME 4101
Minoritech,Inc. Photographysupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 8,751.93$ Y 15HytecCircle Rochester NY 14606
SalsaProfessionalApparelLLC Uniforms Other NonContractProcurement/PurchaseOrder 22,560.00$ N 1441Broadway 3rdflSuite3021 NewYork NY 10018
ToolsforIndustryCorp. Maintenancesupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 13,860.00$ Y POBox37841MorrisAve LakeGrove NY 11755
CityandStateNYLLC DiversitySummit Other NonContractProcurement/PurchaseOrder 6,000.00$ N 44WallStreet,Suite705 NewYork NY 10005
CompetitiveEdgeConference,Inc. 29thAnnualConference Other NonContractProcurement/PurchaseOrder 22,000.00$ N OnePennPlaza NewYork NY 10119
EventageEventProduction,Inc. Securitydeposit Other NonContractProcurement/PurchaseOrder 5,000.00$ N 18SouthOrangeAve. 3rdFL SouthOrange NJ 7079
TECSolutionsConceptsInc. Securityequipmentsupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 7,676.00$ N 4635thStreet Hoboken NJ 7030
AceToolRepairInc. Pipelineinspection Other NonContractProcurement/PurchaseOrder 12,182.45$ Y 2201WantaghAvenue Wantagh NY 11793
HiddenCityCafeCorp Programmingcatering Other NonContractProcurement/PurchaseOrder 7,328.00$ Y 145East23rdStreet NewYork NY 10010
HercRentalsInc. Warehouseforkliftrental Other NonContractProcurement/PurchaseOrder 11,635.00$ N POBox936257 Atlanta GA 31193
PridesCornerFarmsInc. Assortedannuals Other NonContractProcurement/PurchaseOrder 7,355.49$
N 122WatermanRoad Lebanon CT 6249
GusPaulSwimmingPoolsdba/ePaulDynamics Sitematerials Commodities/Supplies NonContractProcurement/PurchaseOrder 15,332.74$ Y 16SintsinkDriveEast PortWashington NY 11050
InterboroPackagingCorp Trashcanliners Commodities/Supplies NonContractProcurement/PurchaseOrder 31,608.00$ N 114BrackenRoad Montgomery NY 12549
FleuryRiskManagementLLC Managementfee OtherProfessionalServices NonContractProcurement/PurchaseOrder 21,182.00$ N 28CorporateDrive Suite104 CliftonPark NY 12065
NewarkPublicRadio,Inc.dba/WBGO‐FM River&Bluesads Other NonContractProcurement/PurchaseOrder 8,000.00$ N 54ParkPlace Newark NJ 7102
WaterlessCompanyInc. Blueseal Commodities/Supplies NonContractProcurement/PurchaseOrder 5,774.69$ N 1050JoshuaWay Vista CA 92081
StephenSillerTunneltoTowersFoundationdbaTunnelToTowerFoundation Permitdeposit Other NonContractProcurement/PurchaseOrder 5,000.00$ N 2361HylanBlvd StatenIsland NY 10306
ePlusTechnology,Inc. Softwarelicenses Technology‐Software NonContractProcurement/PurchaseOrder 28,259.00$ N 13595DullesTEchnologyDrive Herndon VA 20171
ResilientSupportServices,Inc. Plumbingsupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 8,807.34$ N POBox383 517Broadway SaratogaSprings NY 12866
MunicipalMarketAnalytics,Inc Masterbundle Other NonContractProcurement/PurchaseOrder 7,594.00$ N 75MainStreet Fl2 Concord MA 1742
BruceE.McCuedba/McCueGardens Assortedperennials Other NonContractProcurement/PurchaseOrder 15,521.92$ N 47HartfordAvenue Wethersfield CT 6109
HoffmanNursery,Inc. Assortedperennials Other NonContractProcurement/PurchaseOrder 10,975.66$ N 5520BahamaRoad Rougemont NC 27572
OracleAmericaInc. NetSuitecloudservices OtherProfessionalServices NonContractProcurement/PurchaseOrder 20,152.80$ N 500OracleParkway RedwoodCity CA 94065
SHIInternationalCorp Adobesoftware Technology‐Software NonContractProcurement/PurchaseOrder 14,010.01$ N 290DavidsonAvenue Somerset NJ 8873
HartProductionsofLIdba/RealDezines Uniforms Commodities/Supplies NonContractProcurement/PurchaseOrder 6,317.00$ Y 9ESantaBarbaraRoad Lindenhurst NY 11757
ECAmerica,Inc. Projectmanagementsoftware Technology‐Software NonContractProcurement/PurchaseOrder 204,998.83$ N 8444WestparkDrive Suite200 McLean VA 22102
UnumLifeInsurance Shorttermdisabilityinsurance OtherProfessionalServices NonContractProcurement/PurchaseOrder 100,664.31$ N 1225FranklinAveSte250 GardenCity NY 11530
ArtforumInternationalMagazine,Inc. Ads Other NonContractProcurement/PurchaseOrder 7,250.00$ N 3507thAvenue,19thFl. NewYork NY 10001
ArchInsurance Shorttermdisabilityinsurance Other NonContractProcurement/PurchaseOrder 73,309.13$ N Harborside3,210HudsonStreet Suite300 JerseyCity NJ 7311
IslandComputerProductsinc. Microsoftsurfacepro Technology‐Hardware NonContractProcurement/PurchaseOrder 18,592.00$ N 20CliftonAvenue StatenIsland NY 10305
BreitEnterprises,Inc Thermalbluestone Commodities/Supplies NonContractProcurement/PurchaseOrder 6,580.00$ Y 68VerdiStreet Farmingdale NY 11735
NewYorkFlowerGroup(NYFG) Flowers Other NonContractProcurement/PurchaseOrder 17,165.00$ N 150W28thStreet NewYork NY 10001
NBCUniversal,LLC Securitydeposit Other NonContractProcurement/PurchaseOrder 10,000.00$ N 30RockefellerPlaza NewYork NY 10112
CarahsoftTechnologyCorporation DocuSigncontractrenewal Technology‐Software NonContractProcurement/PurchaseOrder 26,884.15$ N 11493SunsetHillsRd,Suite100 Reston VA 20190
SDVOSBMaterialsTechnology&SupplyLLC Cleaningsupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 5,490.86$ N 132‐20JamaicaAvenueSuiteB RichmondHill NY 11418
TheMyelodysplasticSyndromesFoundation,Inc. Securitydeposit Other NonContractProcurement/PurchaseOrder 5,000.00$ N 4573SouthBroadStreet,Suite150 Yardville NJ 8620
WaterfrontAllianceInc. Waterfrontspecialevent Other NonContractProcurement/PurchaseOrder 12,000.00$ N 256West36thStreet,11thFloor NewYork NY 10018
RobertCRogersdbaRBREquipment Niftylift Other NonContractProcurement/PurchaseOrder 34,565.00$ N 1631OtisaValleyRoad Marietta NY 13110
LowImpactDevelopmentTechnologies,LLCPorousTechnologies,LL Sitematerials Commodities/Supplies NonContractProcurement/PurchaseOrder 29,831.16$ N 163ThadeusSt SouthPortland ME 4106
UnilockNewYork,Inc. Sitematerials Commodities/Supplies NonContractProcurement/PurchaseOrder 23,522.19$ N 51InternationalBlvd Brewster NY 10509
EcoRichLLC Dogwastecomposter Other NonContractProcurement/PurchaseOrder 24,000.00$ N 13SpencerCourt MorrisPlains NJ 7950
ZayneSolutionsInc. Sitematerials Commodities/Supplies NonContractProcurement/PurchaseOrder 8,035.28$ N 2624FlowerStreet Westbury NY 11590
FergusonUSHoldings,Inc.dbaFergusonEnterprises,LLC Sitematerials Commodities/Supplies NonContractProcurement/PurchaseOrder 7,280.73$ N 12500JeffersonAvenue NewportNews VA 23602
HanoverVenturesMarkeptplaceLLCdbaLeDistrict PoliceMemorialexpenses Other NonContractProcurement/PurchaseOrder 11,160.00$ N 225LibertyStreet NewYork NY 10281
M&CSaatchiSport&EntertainmentNYLLP Securitydeposit Other NonContractProcurement/PurchaseOrder 10,000.00$ N 466BroomeStreetFl4 NewYork NY 10013
DinerenBlancInternationalInc Securitydeposit Other NonContractProcurement/PurchaseOrder 9,980.00$ N 65SherbrookeSt,East#110 Montreal Quebec H2X1C4
ExtechBuildingMaterialsInc. Maintenancesupplies Commodities/Supplies NonContractProcurement/PurchaseOrder 6,089.62$ N 87BowneStreet Brooklyn NY 11231
RachelJacobdbaStarWirelessSolutionsInc Fencingmaterial Commodities/Supplies NonContractProcurement/PurchaseOrder 11,408.25$ N 831BedfordAve.#210 Brooklyn NY 11205
HunterRobertsConstructionGroup,LLC Proposalagreement Other NonContractProcurement/PurchaseOrder 275,000.00$ N 55WaterStreet,51stFloor NewYork NY 10041
BritInsuranceServicesUSA,Inc. Insurance Other NonContractProcurement/PurchaseOrder 22,420.35$ N 119NorthParkAvenue,4thFloor RockvilleCenter NY 11570
CamdrewProductionsLLC Permitdeposit Other NonContractProcurement/PurchaseOrder 10,000.00$ N 7503rdAve,17thFloor NewYork NY 10017
NYSDivisionofHomelandSecurity&EmergencyServices FEMAretu
rn Other NonContractProcurement/PurchaseOrder 506,943.30$ N 1220WashingtonAveBldg7A,4thFl Albany NY 12242
PlanITGeo,Inc. Treeplottersoftware Technology‐Consulting/DevelopmentorSupport NonContractProcurement/PurchaseOrder 10,500.00$ N 7878WadsworthBLvd.Suite340 Arvada CO 80003
AIGClaims,Inc. Insurance Other NonContractProcurement/PurchaseOrder 19,800.70$ N 1271AvenueoftheAmericas,39thFloor NewYork NY 10020
BlueKarmaSecurityLLC Securitysoftware Technology‐Software NonContractProcurement/PurchaseOrder 15,872.00$ Y 251PosadadelSol Novato CA 94949
Eptura,Inc ManagerPlussubscription Other NonContractProcurement/PurchaseOrder 16,920.00$ N 950EastPaceFerryRoad,N.ESuite800 Atlanta GA 30326
15Five,Inc. Annualsubscription Technology‐Consulting/DevelopmentorSupport NonContractProcurement/PurchaseOrder 23,520.00$ N Dept.LA25012 Pasadena CA 91185‐5012
