New York

New York Gov. Andrew Cuomo on Tuesday introduced his fiscal 2012-13 executive budget. The $132.5 billion spending plan marks a decrease of $225 million from 2011-12. The recommendations cut the projected four-year deficit by more than half, to $7.4 billion from $16.4 billion.

Calling it "the most talked-about empty building in the Bronx," New York City Mayor Michael Bloomberg announced on Thursday an initiative to redevelop the site of the Kingsbridge Armory.

Nassau County, N.Y., won a court case last week in a dispute over payment of tax rebates to homeowners, but the county can expect a court challenge.

New York State Comptroller Thomas DiNapoli's office will initiate an audit of Nassau County's contracting procedures, which a state board that oversees the county's finances had requested last month.

The New York Senate on Monday confirmed Gov. Andrew Cuomo's nomination of Joseph Lhota as chairman and chief executive of the Metropolitan Transportation Authority, which runs New York City's transit system.

Suffolk County, N.Y., armed with a new executive and stung by adverse rating actions, has formed a task force to review its operating budget.

Casino dominoes are toppling in the Northeast as states scramble to obtain or preserve gambling revenue, often packaging the initiatives as job creation in a shaky economy.

New York Gov. Andrew Cuomo wants to build a convention center in Queens, repair many bridges and highways, legalize non-Indian casino gambling, and earmark $1 billion for jobs in Buffalo.

Suffolk County, N.Y., has scheduled an $83.6 million competitive sale of Series 2012 water system revenue refunding bonds for Thursday.

Standard & Poor's lowered its outlook to negative from stable on bonds issued for the New York Mets' ballpark, Citi Field, affecting $695.4 million of debt.

Citing a worsening revenue outlook, the board of New York's Metropolitan Transportation Authority voted against restoring $20 million in bus and subway service cuts for fiscal 2012.

Cornell University's plans to establish an applied-sciences engineering campus in New York City should enhance the school in the big picture despite anticipated credit risks in the short-to-medium term, according to a major rating agency.

Moody's Investors Service on Tuesday dropped Long Beach, N.Y.'s general obligation rating five notches to Baa3 from A1, and placed the rating on review for a possible further downgrade.

Standard & Poor’s has assigned an AA-plus rating to Suffolk County Water Authority Series 2012 revenue refunding bonds expected in early January.

Three upstate regions and Long Island received more than $100 million apiece under New York Gov. Andrew Cuomo’s regional economic development council initiative.

A new local development corporation for New York City nonprofits is starting to accept applications for tax-exempt capital financing. Build NYC Resource Corp. is part of the New York City Economic Development Corp. It held its first organizational meeting Tuesday.

New York City's economy faces severe risks from the European debt crisis, city Comptroller John Liu and New York State Comptroller Thomas DiNapoli said in separate reports on Thursday.

New York City didn't get the 2012 Summer Olympics, but the bid spurred projects that it needed, anyway.

The Port Authority of New York and New Jersey's Board of Commissioners has approved a preliminary $7.1 billion combined operating and capital budget for fiscal 2012 amid complaints that the agency overspends on World Trade Center redevelopment at the expense of bridge, road and tunnel improvements.

Nassau County, N.Y., finally got the budgetary go-ahead from its state-appointed oversight board, but the overseer is far from happy.