Michelle Kaske

Puerto Rico wants to transform more than 70 acres of rundown waterfront and industrial space in San Juan into a mixed-use community anchored by a major ­destination hotel to generate tourism in the area.

Gov. Tom Corbett has lifted a restriction on additional natural-gas drilling in Pennsylvania that could allow more extraction in the Marcellus Shale region.

New Jersey residents in fiscal 2009 paid the highest state and local taxes in the U.S., according to report released last week from the Tax Foundation.

TRENTON — New Jersey Gov. Chris Christie Tuesday released a $29.4 billion spending proposal for fiscal 2012 that includes property-tax relief — if the Legislature passes health-care reform legislation.

Fitch Ratings will update its review of the long-term pension obligations of states and municipalities in its evaluation of public finance credits.

When Luis Fortuño became governor of Puerto Rico in January 2009, he promised to reduce spending, cut the government’s payroll, end structural deficits, and set realistic revenue projections.

Juan Carlos Batlle, managing director of Santander Securities Corp. will succeed Carlos Garcia as president of the Government Development Bank for Puerto Rico, effective March 2.

NEW YORK - Carlos Garcia will resign in the next few days as president of the Government Development Bank for Puerto Rico, according to a government source with direct knowledge of the departure.

New Jersey’s independent local authorities should increase their transparency by posting annual financial reports and public meeting information online, according to state Comptroller Matthew Boxer.

Pennsylvania lawmakers are working on legislation that would enable public-private-partnerships to help finance transportation infrastructure needs throughout the state.

Pennsylvania Gov. Tom Corbett last week selected Linda Kelly to succeed him as attorney general.

Moody’s Investors Service last week revised its outlook on $650 million of outstanding A3-rated CareGroup Inc. bonds to positive from stable.

The Harrisburg Authority is pushing back against a Ba1 rating from Moody’s Investors Service on the authority’s $69.4 million of water bonds, calling the rating “fundamentally unfair.”

Moody’s Investors Service downgraded $764 million of Massachusetts Bay Transportation Authority assessment bonds Thursday to Aa1 from Aaa to reflect the credit rating agency’s pool financing methodology.

Standard & Poor’s Wednesday downgraded New Jersey’s general obligation credit rating to AA-minus from AA due to its unfunded pension liability and high debt levels.

New Jersey Attorney General Paula Dow Tuesday announced that UBS Securities LLC will pay the state $3.79 million in civil penalties and buy back $1.5 billion of auction-rate securities from New Jersey investors.

Standard & Poor’s revised Massachusetts’ outlook to positive from stable Monday based on strong management practices as the state prepares $146.3 million of SIFMA-index refunding bonds.

Democratic lawmakers and Amtrak Monday announced a $13.5 billion plan to increase rail service between New Jersey and Manhattan by building two new train tunnels underneath the Hudson River.

Legislation that would reduce New Jersey Turnpike Authority tolls prompted a conference call Friday between the agency and Moody’s Investors Service.

Puerto Rico this week will issue $85 million of general obligation refunding bonds that will restructure debt to help lower debt-service costs in the current fiscal year.