Ted Phillips

The Dormitory Authority of the State of New York will be able to issue tax-exempt bonds for nonprofits in the manner previously handled by Industrial Development Agencies, under legislation Gov. David Paterson submitted Tuesday.

As Albany’s tortured budget negotiations near their end this week, the rest of New York is assessing how they will be affected.

New York lawmakers Monday night passed the final bills needed to complete the expense portion of the state’s budget almost three months after the start of the fiscal year.

New York State will pick up the debt-service tab for North General Hospital, which plans to file for bankruptcy, officials said Monday.

New York City officials reached a handshake deal on the city's $62.9 billion budget last week and spent the weekend trying to hammer out the final details as the state budget remained in legislative limbo.

The $1.3 billion refinancing this week of One Bryant Park, a Midtown Manhattan office tower, may be the first deal of its kind. The New York Liberty Development Corp. Wednesday plans to issue $650 million of refunding Liberty bonds on behalf of the owners of the building, Bank of America Merrill Lynch and the Durst Organization.

The New York Court of Appeals ruled last week that the state can seize private property on behalf of Columbia University, which wants to expand its campus into Harlem.

Proposed legislation that would allow the State University of New York and City University of New York to set their own tuition rates would have positive credit effects, Moody's Investors Service said last week in a special comment.

The Dormitory Authority of the State of New York gave final and preliminary approval to six bond transactions totaling more than $245 million at its monthly board meeting Wednesday.

The Port Authority of New York and New Jersey is looking to reserves to provide self-liquidity for its commercial paper program, officials said Tuesday.

New York City Mayor Michael Bloomberg on Tuesday appointed former U.S. Treasury official and banker Robert Steel as deputy mayor for economic development.

Fiscally challenged New York has come through with some subsidies for the cash-strapped Metropolitan Transportation Authority, officials said Monday.

New York lawmakers on Monday were expected to pass an emergency spending bill that counted on revenue from increased cigarette taxes.

New York’s practice of delaying payments to local governments and school districts to manage its cash-flow difficulties is causing headaches for aid recipients, who have responded with a variety of financial gymnastics.

The insolvent city of Central Falls, R.I., will transition from judicially appointed receivership to state receivership under a consent order granted Friday in Superior Court.

Swap Financial Group LLC is making a second bid to become the derivatives adviser for New York’s Metropolitan Transportation Authority, after trimming fees one authority official labeled “usurious.”

New York governors lack clear authority to make unilateral midyear spending cuts that could help future executives address fiscal crises, according to a report released last week by the Rockefeller Institute of Government.

Unemployment in New York fell in May even as the economy lost private sector jobs, according to a report released by the State Labor Department last week.

New York’s revenue picture has improved compared to last year but not enough to prevent the general fund from running a negative balance every day this month, the state comptroller said in a cash report last week.

The Internal Revenue Service temporarily withheld Build America Bond subsidies from New York City, Comptroller John Liu’s office said Wednesday.