Caitlin Devitt

A $425 million plan to build a new convention center and medical merchandise mart in downtown Cleveland advanced last week as the Cuyahoga County Commission approved the purchase of the last piece of land needed for the complex.

The Detroit City Council Friday approved a 2011 fiscal budget that chopped roughly $32 million from Mayor Dave Bing’s proposed spending plan.

A Michigan House subcommittee last week approved three bills that would authorize a bond-issuing regional authority to oversee a 400-mile mass transit system running throughout the Detroit area.

CHICAGO — The worst could be over for Michigan, according to economists and fiscal officials who gathered in Lansing Friday for the state’s twice-annual revenue estimating conference.

CHICAGO — The Michigan House is expected to vote Tuesday on a bill that would advance a controversial $2 billion bond-funded bridge spanning the busy Detroit-Canada trade route.

CHICAGO — A report reviewing the Cleveland Municipal School District’s bond practices recommends that it opt for competitive over negotiated bond sales when issuing general obligation debt to ensure the lowest borrowing costs.

The Cincinnati City Council last week passed a measure to issue up to $64 million in bonds to advance a long-planned $128 million project to build a streetcar.

Nebraska revenues last month came in $52 million below projections, state officials said last week.

The Troy City Council last week passed a $141 million fiscal 2011 budget that calls for the city’s library to close by next summer. The cut comes after residents in February defeated a five-year property tax increase that city officials said would keep the library open.

Detroit Mayor Dave Bing last week held the first meeting of a “land-use summit” group that will help shape the long-term plan to reshape, and likely downsize, the troubled city.

CHICAGO — The Columbus Franklin County Finance Authority today will price $158 million of taxable research and development bonds as part of Ohio’s high-profile effort to invest venture capital in young, technology-based companies.

CHICAGO — Ohio today and tomorrow will price $215 million of double-A rated Garvee bonds.

CHICAGO — Provisions in the new federal health care law that aim to change the way hospitals are paid for their services could pose risks to nonprofit providers, Standard & Poor’s said in a report released yesterday.

CHICAGO — Nebraska voters in Tuesday’s primary green-lighted several borrowing requests and a constitutional amendment that will allow local governments to issue tax-exempt debt on behalf of nonprofit organizations.

CHICAGO — Moody’s Investors Service this week downgraded Toledo, Ohio, warning that falling income tax revenue has led to repeated general fund shortfalls despite attempts to stabilize financial operations.

As North Dakota enjoys the largest oil boom in its history, counties and cities struggling to provide the infrastructure needed to support the growing industry are turning to the state for help.

Fitch Ratings last week downgraded its rating to A from AA-minus and revised its outlook to negative from stable on the Toledo City School District.

Cleveland Mayor Frank Jackson this week joined a pair of Ohio lawmakers supporting a bill that would make it easier for local governments to share services to save money.

Genesee County was hit with a pair of downgrades last week as it prepares to issue $10 million of tax anticipation notes and $46 million of delinquent-tax anticipation notes this month.

The International Falls Economic Development Authority tomorrow will offer $11.5 million of taxable lease revenue bonds backed by a general obligation pledge of the federal government to finance construction of a new National Park Service headquarters.