New York

Proponents say it's the right time after states reaped the revenue rewards of a strong post-COVID economic rebound. Opponents, however, point to the gloomy market predicted to be ahead.

"Recent months have been trying for investors," said State Comptroller Thomas DiNapoli, "and there is no doubt that challenges lie ahead, with concerns over a recession and potential interest rate increases, but the state pension fund is well-positioned to weather these storms."

It's the largest federal transportation grant to date, said Sen. Chuck Schumer, D-N.Y.

The $107 billion adopted budget for fiscal 2024 maintains a near-record $8 billion in total reserves but doesn't increase them.

The new toll on vehicles entering large swathes of Manhattan will be a key part of the MTA's future capital plan.

"I got cut," he told The Bond Buyer. "I'm looking for a new job now."

"His key role in the financial rescue of New York City following its near-bankruptcy in 1975 set Dick on a nearly five-decade path making sure such an event would never happen again in the city and elsewhere," said William Glasgall of the Volcker Alliance.

What's the impact of hybrid work on the city's commercial office market and property tax revenues? It may be less than you think, according to Comptroller Brad Lander.

The IBO is a publicly funded city agency that provides nonpartisan information about the budget and economy but has no policymaking role.

City finance officials report that its recent $1.56 billion general obligation bond sale was more than six times oversubcribed.

Muni Pride has been rebranded from California Muni Pride to reflect its developing national focus.

Olson, a 20-year municipal bond veteran, replaces Marjorie Henning who retired at the end of April. In his new position, he will be in charge of the Bureau of Public Finance, which manages the city's borrowing for the comptroller.

The Housing Development Corp. will come to market with almost $1 billion of sustainable development bonds to fund new housing projects in the city.

The recent influx of migrants has stressed the city's social services system amid uncertainty about whether funding will come from state or federal government.

Fernandez was a veteran municipal bond attorney who spent nearly 67 years at Hawkins, Delafield & Wood LLP before his retirement in 2017.

The private Medaille University is closing its doors after failing to sell itself to a nearby college. It has more than $20 million of bond debt.

"We are seeing strength in the securities, transportation and warehousing and office sectors," New York State Comptroller Thomas DiNapoli said "but retail, restaurants, construction and tourism continue to lag the national recovery."

The CPI numbers coming in pretty much as expected "was a relief" to the markets, with the bond market rallying after the release, said Luke Bartholomew, senior economist at abrdn.

The Municipal Forum of New York presented awards to four people at its annual fund-raising dinner in Manhattan on May 3. Money raised at the dinner is used to support the Urban Leadership Fellows internship program to support high school seniors heading to college.

Three public finance veterans and one industry hopeful took the stage Wednesday in Manhattan to accept awards at the forum's 32nd Annual Awards Dinner.