New York

The Durst Organization is negotiating to buy a $100 million equity stake in One World Trade Center, the Port Authority of New York and New Jersey announced Wednesday.

The New York State Legislature ­adjourned last week without passing a complete budget, but a few bond-related bills still squeaked through the political deadlock.

New York expects to sell $5.9 billion of bonds to partially finance $10.87 billion of capital spending approved in the fiscal 2011 budget, which lawmakers said is nearly finished.

The New York City Council passed a $63.1 billion budget Tuesday evening that includes $8.92 billion of bonds to be sold to partially finance the city’s capital program.

The Dormitory Authority of the State of New York will be able to issue tax-exempt bonds for nonprofits in the manner previously handled by Industrial Development Agencies, under legislation Gov. David Paterson submitted Tuesday.

As Albany’s tortured budget negotiations near their end this week, the rest of New York is assessing how they will be affected.

New York State will pick up the debt-service tab for North General Hospital, which plans to file for bankruptcy, officials said Monday.

New York City officials reached a handshake deal on the city's $62.9 billion budget last week and spent the weekend trying to hammer out the final details as the state budget remained in legislative limbo.

The $1.3 billion refinancing this week of One Bryant Park, a Midtown Manhattan office tower, may be the first deal of its kind. The New York Liberty Development Corp. Wednesday plans to issue $650 million of refunding Liberty bonds on behalf of the owners of the building, Bank of America Merrill Lynch and the Durst Organization.

The New York Court of Appeals ruled last week that the state can seize private property on behalf of Columbia University, which wants to expand its campus into Harlem.

Proposed legislation that would allow the State University of New York and City University of New York to set their own tuition rates would have positive credit effects, Moody's Investors Service said last week in a special comment.

The Dormitory Authority of the State of New York gave final and preliminary approval to six bond transactions totaling more than $245 million at its monthly board meeting Wednesday.

The Port Authority of New York and New Jersey is looking to reserves to provide self-liquidity for its commercial paper program, officials said Tuesday.

New York City Mayor Michael Bloomberg on Tuesday appointed former U.S. Treasury official and banker Robert Steel as deputy mayor for economic development.

Fiscally challenged New York has come through with some subsidies for the cash-strapped Metropolitan Transportation Authority, officials said Monday.

New York lawmakers on Monday were expected to pass an emergency spending bill that counted on revenue from increased cigarette taxes.

New York’s practice of delaying payments to local governments and school districts to manage its cash-flow difficulties is causing headaches for aid recipients, who have responded with a variety of financial gymnastics.

Swap Financial Group LLC is making a second bid to become the derivatives adviser for New York’s Metropolitan Transportation Authority, after trimming fees one authority official labeled “usurious.”

The Internal Revenue Service temporarily withheld Build America Bond subsidies from New York City, Comptroller John Liu’s office said Wednesday.

New York Gov. David Paterson said Tuesday he plans to submit budget bills and threatened to include them in next week’s emergency spending bills if they aren’t passed.