Ted Phillips

The Genesee County Industrial Development Agency should reclaim $340,000 in bonuses it gave to employees, the New York State Authorities Budget Office said in a report last week.

The New York State Thruway Authority on Wednesday approved up to $525 million of new-money bonds and up to $250 million of refunding bonds secured by the state’s highway and bridge trust fund.

Lieut. Gov. Robert Duffy said the size of the role that bonds will play in New York Gov. Andrew Cuomo’s economic development program is uncertain and will include the creation of regional economic development councils.

Public-private partnerships could offer some new and useful financing options for New York’s infrastructure needs but they come with risks, according to a report released by the state comptroller’s office Monday.

The New York City Education Construction Fund plans to competitively market $136.4 million of tax-exempt bonds on Thursday to complete the financing for construction of two public schools at an apartment tower and retail complex.

As an oversight board pondered a takeover of Nassau County’s finances, Comptroller George Maragos last week said the county’s budget is not only in balance but its structural problems have improved.

New York State and New York City’s borrowing authorities plan to issue up to $5.14 billion of new-money bonds in the first quarter, according to a forward-issuance calendar released last week by the comptroller’s office.

New York City brings its first deal of the new year to market next week with $875 million of tax-exempt bonds as it steps forward into a world without the Build America Bond option.

Connecticut Gov. Dan Malloy’s first official act after being sworn in Wednesday was to issue an executive order requiring the state to craft budgets using generally accepted accounting principles.

In his first state of the state address, New York Gov. Andrew Cuomo on Wednesday said the state must reduce spending and close a $10 billion budget gap in the next fiscal year.

The Mystic Aquarium & Institute for Exploration in Connecticut got a lifeline on Tuesday from Citi, which agreed to forgive $13.4 million of debt and convert $19 million of outstanding bonds into an effective loan.

Pittsburgh's City Council late last week was expected to override a veto by Mayor Luke Ravenstahl of a bill that would raise fees on city-owned parking garages to fund pension costs.

In one of his final settlements as New York Attorney General, Governor-elect Andrew Cuomo last week announced an agreement with Steven Rattner, former principal of the private-equity firm Quadrangle Group LLC, in an investigation into a pay-to-play state pension fund scheme.

The Port Authority of New York and New Jersey last week recommended raising the roadbed of the Bayonne Bridge by 64 feet to provide more clearance for ships.

A New Hampshire legislative commission last week found that tobacco securitization was one option that could generate $60 million to monetize state assets in the current fiscal year, but it failed to garner enough support from members to be recommended.

A new elementary school is just one of the projects being financed with $77.4 million of bonds that the Maine Municipal Bond Bank plans to market this week.

After weeks of speculation, the board that monitors Nassau County, N.Y.'s fiscal condition did not take over its finances last week. Instead, the Nassau County Interim Finance Authority asked for additional budget information by Jan. 20 before it would take any action.

New York City on Tuesday continued to dig itself out from a snowstorm that dropped nearly 20 inches of snow in less than 24 hours. Sorting out the economic impact likely will take even longer. A spokesman for Mayor Michael Bloomberg said that the rule of thumb is that every inch of snow costs $1 million to clean up.

The finance board that monitors Nassau County plans to meet this week after last week’s executive session.

New York Governor-elect Andrew Cuomo will face a split Legislature when he takes office next year after the state’s highest court last week ruled against a hand recount in the last contested race.