Connecticut

A limited tax base and heavy legacy obligations have hamstrung the city, according to the rating agency.

Urban planners argue for the unlocking of public assets through an asset trust, an idea largely untested in the U.S.

The rating agency will continue to monitor financial developments in Connecticut's capital city.

Alternative strategies include general obligation borrowing to offset limited bonding capacity in the special transportation fund.

Only weeks after Gov. Dannel Malloy signed a fiscal 2018 budget, the state has a new round of fiscal crises.

In its third and final meeting of the year, the State Bond Commission on Wednesday approved capital projects totaling about $1.2 billion, including $500 million for school construction projects throughout Connecticut.

The state’s Bond Commission on Wednesday approved $4.01 million in funding the Connecticut Port Authority had requested for harbor improvements.

The Regional Plan Association recommends congestion pricing, infrastructure banks, public benefit corporations, a regional rail system and an end to 24-hour New York subway service.

Thomas Hamilton, Scott Jackson and Jay Nolan will join the nascent board that will intervene in and assist with municipal distress cases.

It's the second try for Connecticut's capital city, which last year fired a contractor over cost overruns and delays.

Treasurer Denise Nappier sees the just-passed spending plan as a roadblock to full funding.

Budget secretary Benjamin Barnes' latest revenue estimate comes two weeks after lawmakers passed a $41.3 billion biennial spending plan.

A commission would examine transferring capital assets to a trust and building asset values to benefit pension plans.

Moody's cited the city's reliance on nonrecurring revenues.

Funding shortfalls, delayed expansion projects, and gridlock threaten the viability of the Amazon bids, according to the Tri-State Transportation Campaign.

The governor's action ends a five-month impasse over the biennial spending plan, though work remains at the state capitol.

Despite relief for Hartford in the recently approved state budget, city leaders will continue to negotiate with bondholders and employee unions.

The House and Senate actions place the ball in the court of Gov. Dannel Malloy, who was sidelined during the negotiations.

The state Senate could bring the spending plan up for a vote that could help end a nearly five-month impasse.

Treasurer Denise Nappier called for sound bond-cap provisions, full funding of ARCs and adherence to a 2008 pension bond covenant.