New York

The Erie County Fiscal Stability Authority plans to sell $174 million of bonds on behalf of the New York county in a deal announced Friday.

James Gill resigned as chairman of the Hugh L. Carey Battery Park City Authority after 14 years in the post, New York Gov. David Paterson announced Tuesday.

February in New York has produced a blizzard of political upheavals as rumors swirl around Gov. David Paterson, two politicians’ careers may be finished, and a special election cements a political dynasty.

New York City’s economic development bond issuers hope to get additional bond allocations under the recovery zone facility bond program, issuer staff said yesterday.

New York Gov. David Paterson wants to increase the level of taxation on New York City businesses to support the Metropolitan Transportation Authority, the according to a press release yesterday.

Westchester County, N.Y., plans to competitively market $173.1 million of general obligation bonds tomorrow in its first new-money deal since Republican Robert Astorino was elected county executive in November. The deal will also be the first marketed in the state under a pilot program allowing Westchester to accept only electronic bids.

Moody’s Investors Service yesterday downgraded to junk status bonds sold to finance the New York Mets Major League Baseball stadium, citing the diminished credit quality of a surety provider as one of the reasons.

New York City budget director Mark Page yesterday sharply criticized cuts in state funds for the city proposed in Gov. David Paterson’s state budget.

Moody’s Investors Service yesterday downgraded the New York Metropolitan Transportation Authority’s revenue bonds to A3 with stable outlook from A2 with negative outlook.

New York’s projected deficit for fiscal 2011 has grown by $750 million in less than three weeks to $8.2 billion, Gov. David Paterson said yesterday. Lower-than-forecast personal income tax collections and higher-than-expected Medicaid costs are driving the widening gap, his office said.

The Dormitory Authority of the State of New York could sell bonds to refinance the troubled St. Vincent’s Hospital’s debt, according to a spokesman for Congressman Jerrold Nadler, D-Manhattan.

Goldman, Sachs & Co. has pulled out of a partnership with the Related Cos. to develop the 26-acre East and West Side Rail Yards in Manhattan — also known as the Hudson Yards — the parties confirmed yesterday.

New York City Mayor Michael Bloomberg yesterday proposed a $63.6 billion preliminary budget that closes a projected $4.9 billion deficit in fiscal 2011.

World Trade Center developer Silverstein Properties Inc. lost its main argument in an arbitration proceeding against the Port Authority of New York and New Jersey, the two parties announced yesterday.

The Dormitory Authority of the State of New York approved up to $285 million of tax-exempt bonds on behalf of Cornell University at its monthly board meeting yesterday.

Proposed New York State budget cuts would cost New York City $1.3 billion and trigger 19,000 layoffs, Mayor Michael Bloomberg said yesterday at a budget hearing in Albany.

New York’s Metropolitan Transportation Authority hopes to return to deals structured with level debt service when it goes to market next week, its staff said yesterday. The agency plans to sell $650 million of transportation revenue bonds as a mix of tax-exempt bonds and taxable Build America Bonds on Feb. 3.

New York City continues to gush water bonds with a $400 million deal expected to price tomorrow and another $327.1 million next week.

The New York State Thruway Authority authorized up to $1 billion of bonds secured by the state’s second general resolution dedicated highway and bridge trust fund at its monthly board meeting yesterday.

New York City Mayor Michael Bloomberg yesterday called on state lawmakers to protect the city from proposed cuts in the proposed budget. New York Gov. David Paterson on Tuesday proposed cutting $302 million of local aid to the city in his fiscal 2011 executive budget.