New York

New York MTA expects to save roughly $152 million in interest from its planned $1 billion sale of Hudson Yards lease securitization bonds, said CFO Robert Foran.

New York's property tax levy cap will be below 1% in 2017, and that is a credit negative for local governments throughout the state that are hampered by an ability to raise revenue, according to Moody's.

New York MTA intends to close the Canarsie Tunnel between Brooklyn and Manhattan for 18 months beginning in 2019 to repair Hurricane Sandy damage.

New York City officials are pressing the Port Authority of New York and New Jersey to halt an ongoing design competition for a new Manhattan bus terminal and create a more “transparent” process.

New York City announced on Thursday it will offer around $1.49 billion of general obligation bonds next month.

The town of Ramapo, N.Y. and one of four individuals charged with securities fraud by the Securities and Exchange Commission for misleading muni bond investors are disputing the charges and urging a federal judge to dismiss the case.

Newly announced $10 million grants for five downtown revitalization projects around New York State are a credit positive for the participating municipalities, according to Moody’s Investors Service.

As part of the New York Metropolitan Transportation Authority’s $27 billion five-year capital program, Gov. Andrew Cuomo on Monday announced plans for the renovation of 31 subway stations across New York City and unveiled a totally new design for the 1,025 subway cars that are on tap to be bought by the agency.

Rochester, N.Y., appears to have turned a fiscal corner even as it manages through the decline of two large employers that once formed the bedrock of the city’s economy and identity.

The New York City Economic Development Corp. on Thursday picked the Lowline team to create the world’s first underground park on the Lower East Side, using solar technology to transform the abandoned Williamsburg Bridge Trolley Terminal under Delancey Street into a one-acre cultural space set to be opened to the public in 2021.