Ted Phillips

The battle over the constitutionality of the Rhode Island law that allowed a receiver to take over Central Falls' finances and governance is back in court.

New York Gov. David Paterson issued an executive order Friday that clears the way for the state to issue the largest-ever recovery zone facility bond offering before the program's Dec. 31 expiration.

New York’s largest recovery zone facility bond deal to date will likely price this week, just under the wire before the tax-exempt private-activity bond program expires.

The U.S. attorney’s office last week arrested four consultants for allegedly defrauding New York City and misappropriating $80 million on an electronic payroll project.

New York Gov.-elect Andrew Cuomo wants to keep Paul Williams Jr. as executive director of the Dormitory Authority of the State of New York, the Cuomo transition team announced last week.

Fiscally troubled Central Falls, R.I., faces federal Chapter 9 bankruptcy if recommendations by the state-appointed receiver — which include annexation by a neighboring city — are not successfully implemented, according to a report released Thursday.

NEW YORK - Fiscally troubled Central Falls, R.I., will need to go into federal Chapter 9 bankruptcy if recommendations by the state-appointed receiver — which include annexation by a neighboring city — are not successfully implemented, according to a report released Thursday.

New York's Metropolitan Transportation Authority adopted a $12.08 billion operating budget for 2011 at its monthly board meeting Wednesday. The budget closes a projected $900 million deficit with a combination of fare and toll increases that go into effect on Jan. 1, labor concessions, efficiency savings, and recurring actions taken this year.

New York City budget director Mark Page on Tuesday called for a 20% reduction in capital spending in the city's next 10-year capital strategy plan to be released next year.

With two weeks left to use its remaining $90.2 million allocation of recovery zone facility bonds, New York City is projecting that $18.7 million of unused capacity will be left to help finance World Trade Center development.

New York’s Metropolitan Transportation Authority plans to issue up to $750 million of taxable Build America Bonds next week to fund capital needs in 2011.

New York’s Metropolitan Transportation Authority plans to issue up to $750 million of taxable Build America Bonds next week to prefund its 2011 capital needs, staff announced at a finance committee meeting Monday.

Planned cuts to New York City’s capital plan announced in the wake of the fiscal downturn in 2008 have not materialized, the Citizens Budget Commission said last week on its website.

JPMorgan Chase last week announced that Priscilla Almodovar would head its national community development real-estate lending business. She will continue to serve as chief operating officer of the firm’s community development banking practice, which includes the real estate lending business. The other parts deal with tax credits and lending to community development financial institutions.

The Dormitory Authority of the State of New York last week at its monthly board meeting gave final approval to more than $1 billion of bonds for a number of projects.

The Port Authority of New York and New Jersey passed a $7.17 billion operating and capital budget Tuesday for calendar year 2011 that keeps operating growth flat while boosting capital spending.

Putnam County, N.Y., executive-elect Vincent Leibell 3rd pleaded guilty Monday to obstruction of justice and tax evasion. It was unclear Monday who will run the county beginning on Jan. 1 when the long-time state politician would have taken office.

New York's two largest issuers of affordable housing bonds plan to end the year with deals under the revised New Issue Bond Purchase program.

Expected rents at a rising office tower at the World Trade Center site will back debt service on $1.31 billion of tax-exempt Liberty revenue bonds expected to price this week, but their real security comes from local ­governments.

The New York Senate will meet in special session on Tuesday to consider a proposed reorganization of the bankrupt New York City Off Track Betting Corp.