New York

Gary Dellaverson, chief financial officer of New York’s Metropolitan Transportation Authority, retired last week after 19 years at the agency.

Across the country and in New York City, museums and other cultural institutions are trying to cope with lower revenue brought on by big declines in donations and losses on investments even as admissions hold steady.

Incoming New York City Comptroller John Liu is keeping deputy comptroller for public finance Carol Kostik in her current job of working with the mayor’s budget office to put together the city’s bond deals.

Fitch Ratings revised its outlook on New York's Metropolitan Transportation Authority's revenue bonds and dedicated tax-fund bonds to negative from stable last week.

When federal stimulus money runs out after 2010, New York school districts could face a $2 billion funding gap, Comptroller Thomas DiNapoli said last week.

The Brooklyn Arena Development Corp. on Wednesday closed on the sale of $511 million of tax-exempt bonds to partially finance the controversial $1.06 billion Barclays Center in Brooklyn.

The Metropolitan Transportation Authority did not violate New York laws when it agreed to sell the development rights over rail yards in Brooklyn to Forest City Ratner Cos., a state Supreme Court judge ruled last week.

Natural gas drilling in upstate New York could force New York City to build a multibillion-dollar water filtration plant, substantially raising water rates in the city, says a report released last week by the city's Independent Budget Office.

New York Gov. David Paterson's order to withhold $582 million of payments from school districts was unconstitutional, plaintiffs charged in a lawsuit filed in State Supreme Court in Albany yesterday.

In a reprise of last year, New York's Metropolitan Transportation Authority yesterday passed a "doomsday" budget that slashes services, but on a delayed schedule.

New York's Metropolitan Transportation Authority plans major service cuts next year to deal with revenue shortfalls in the current month and beyond, the agency announced yesterday.

New York municipalities are pooling their bond issuance to take advantage of “super BABs” this week in what is expected to be the first of up to five deals.

The Port Authority of New York and New Jersey passed an austere $6.3 billion operating and capital budget yesterday that keeps operating growth at zero in 2010. The agency also cut its 2007-2016 capital plan by $5 billion to $24.5 billion.

New York Gov. David Paterson said yesterday that he will order the withholding of payments to local governments to deal with a $1 billion shortfall this month.

New York City has nearly selected all the projects for its $121 million allocation of Recovery Zone facility bonds, pending board approval, the conduit issuer said yesterday.

WASHINGTON — New York Liberty Bond issuers — including the Liberty Development Corp., which planned to sell $2.59 billion of the bonds this month to beat the current deadline — would have another year to put together deals under legislation introduced yesterday by the top tax writer in the House.

New York City this week will price roughly $1.4 billion of general obligation debt, including $616 million of taxable Build America Bonds, to help finance capital improvements.

Priscilla Almodovar, president and chief executive officer of the New York State Housing Finance Agency and the State of New York Mortgage Agency, resigned Friday.

New York’s largest housing finance agencies plan to sell more than $1 billion of bonds to Freddie Mac and Fannie Mae this month under a new federal program aimed at giving a shot in the arm to HFAs.

The battle to rid New York State pension and retirement funds of pay-to-play and placement agent “kick-backs” crept steadily forward today after Elliot Broidy, founder and chairman of Markstone Capital Group, plead guilty to offering millions of dollars in bribes for investment contracts.