New York

The Port Authority of New York and New Jersey has approved a 75-year lease with a developer to transform the former TWA Flight Center at John F. Kennedy Airport into a hotel complex.

A New York State oversight board that controls Nassau County finances has opted to refinance $118 million in long-term debt as a way to save $9.7 million in lower interest payments on debt service costs.

New York’s MTA expects to resubmit its five-year capital program request to state officials by the end of next month, Chairman Thomas Prendergast said.

New York State Comptroller Thomas DiNapoli has designated 44 municipalities across the Empire State as fiscally stressed.