NYC-Build NYC Resource Corporation Awards Financial Services Contract to Friends of Prospect Schools Ny Inc (July 2025)

Build NYC Resource Corporation approved up to $70 million in tax-exempt and taxable revenue bonds for Friends of Prospect Schools NY, Inc. to finance construction and renovation of multiple Brooklyn Prospect Charter Schools facilities and refinance existing debt. The financing includes both a direct purchase and a public offering with maturities up to 40 years and associated SEQRA approvals.

Document date · July 22, 2025

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Scope & details

The full contract record, as filed.

Contract amount

approximately $70,000,000

Contract type

FINANCIAL_SERVICES

Contract term

Final maturity not later than December 31, 2066; anticipated closing Fall 2025; 40-year maturity for public offering bonds

Renewal date

2066-12-31

Renewal

Bonds structured with up to 40-year maturities; direct purchase series has a five-year term with anticipated refinancing after maturity; certain facilities subject to a 10-year mortgage recording tax recapture period.

Document type

Minutes

Source document

Build NYC Resource Corporation Board of Directors Meeting Minutes 2025-07-22

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NYC-Build NYC Resource Corporation, New Yorkapproximately $45,265,000Sep 14, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by NYC-Build NYC Resource Corporation?

Friends of Prospect Schools Ny Inc was awarded this financial services contract by NYC-Build NYC Resource Corporation, as recorded on July 22, 2025. The contract value is approximately $70,000,000.

How much is the Friends of Prospect Schools Ny Inc contract with NYC-Build NYC Resource Corporation worth?

The Friends of Prospect Schools Ny Inc contract with NYC-Build NYC Resource Corporation is valued at approximately $70,000,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Build NYC Resource Corporation Board of Directors Meeting Minutes 2025-07-22 (Minutes), dated July 22, 2025 from NYC-Build NYC Resource Corporation. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Friends of Prospect Schools Ny Inc hold?

Friends of Prospect Schools Ny Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Friends of Prospect Schools Ny Inc's profile

What is NYC-Build NYC Resource Corporation currently buying?

Explore NYC-Build NYC Resource Corporation's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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