New York

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.

New York Gov. David ­Paterson proposed an all-funds $134 billion fiscal 2011 budget yesterday that keeps spending growth below 1%. The proposed budget would close a $7.4 billion deficit primarily through a series of cuts, but also through tax and fee increases.

New York’s Metropolitan Transportation Authority will begin consolidating internal departments and maximizing its resources to produce savings and make the system more efficient, agency chairman and chief executive officer Jay Walder announced Friday.

The New York Legislature yesterday offered an ethics and campaign finance reform package with much less punch than a proposal offered by Gov. David Paterson last week.

New York’s Metropolitan Transportation Authority plans to repeat a novel approach to accessing low rates at a time when liquidity costs makes traditional variable-rate financing pricey.

The expiration two years ago of the law allowing the 116 industrial development agencies in New York to sell bonds on behalf of nonprofits is changing the landscape for borrowers and issuers.

The Empire State Development Corp., one of New York’s largest issuers of bonds, could be merged with the state Department of Economic Development under a proposal announced by Gov. David Paterson yesterday. The new entity would be called the Job Development Corp.

The risk of a downgrade to New York’s general obligation debt isn’t being priced into the state’s bonds, an investment management firm said in a report released Friday.

Two of New York’s top affordable housing officials have landed at private firms after announcing their resignations from public posts last month.

The Metropolitan Transportation Authority should prioritize which services could be restored if the New York Legislature finds additional funding, a state lawmaker said at a hearing yesterday.

New York Gov. David Paterson yesterday called on the Legislature to change the way it crafts budgets in order to address the state’s fiscal mess.