Michelle Kaske

The New Jersey Turnpike Authority board this month is expected to vote to eliminate employee bonuses and payouts, toll-free work commutes, and other practices that have cost the agency $43 million in nearly four years.

The Port Authority of New York and New Jersey is considering a two-part financing structure with a private developer that would design, build, finance, and maintain a new Goethals Bridge, according to the request for qualifications for the project.

The Essex County Improvement Authority is looking for underwriters for an $89 million real-estate lease-back bond deal with Newark that will help New Jersey’s largest city balance its fiscal 2010 budget.

Gilt-edged Delaware this week will sell nearly $300 million of general obligation debt, including $175.2 million of taxable Build America Bonds and qualified school construction bonds to help finance capital projects.

The Harrisburg City Council is seeking a legal consultant that would offer advice to officials on a potential bankruptcy filing or entering into Pennsylvania’s distressed communities program, known as Act 47.

New Jersey Gov. Chris Christie has selected nine members to serve on the state’s Red Tape Review Commission, which will assess regulation of the business community.

The Pittsburgh City Council is poised next week to reject a $451.6 million offer for its parking system that would, if completed, raise revenue needed to ward off a state takeover of the city’s pension system, which is only 30% funded.

New Jersey’s Local Finance Board Wednesday approved a lease-back bonding plan between Newark and the Essex County Improvement Authority that will help the state’s largest city fill an $83 million deficit in the current-year budget.

The Harrisburg Authority is unable to end three derivatives with Royal Bank of Canada and use those termination funds to help meet a Dec. 1 payment to bondholders of its incinerator debt, according to board member William Cluck.

The Fort Monmouth Economic Revitalization Planning Authority is looking for a consultant to help craft a plan to assess the cost of transforming the 1,100-acre Army base in eastern New Jersey into a mixed-use development and create a financing strategy.

New Jersey and Atlantic City officials worked out a plan Tuesday to allow the state’s gambling center to spread out a $9.5 million budget deficit over five years as it prepares to issue nearly $36 million of refunding and new-money debt in the near term.

After heated debate, New Jersey lawmakers Monday approved a $1.4 billion Transportation Trust Fund Authority debt restructuring deal that also includes new-money bonds.

Moody’s Investors Service placed under review for possible downgrade Monday a combined $86.4 million of Harrisburg Authority water bonds and Harrisburg Parking Authority revenue bonds because the city could enter Pennsylvania’s distressed communities program.

A $1.4 billion New Jersey Transportation Trust Fund Authority deal is caught in a political stalemate as the state’s Department of Transportation announced Friday it would halt all state-funded transportation projects until the Legislature approves the bond sale.

As Harrisburg looks for assistance through Pennsylvania’s distressed communities program, the city also will seek a $7 million short-term loan to help meet payroll and other immediate costs.

The Pennsylvania House last week passed a new 39-cent tax on the extraction of natural gas. But Senate Republicans do not support the initiative because they believe the “ridiculous” tax rate would push the industry out of the state.

Moody’s Investors Service last week dropped to Ba2 from Baa3 $150 million of debt that was used to develop the Jersey Gardens Mall in northeastern New Jersey.

Harrisburg Mayor Linda Thompson will apply to Act 47, Pennsylvania’s distressed municipality program, as the city has $282 million of outstanding incinerator bonds that it cannot pay.

Political fighting in Harrisburg, Pa., scrapped Mayor Linda Thompson’s initiative to restructure debt of the region’s incinerator authority, meaning the city is no closer to resolving the problems that brought it to the verge of a general obligation default this month.

Public Financial Management Inc. will assist New Jersey in its plan to defease outstanding general obligation debt.