New York

bus system.Prendergast comes to the MTA from the South Coast British Columbia Transportation Authority, Vancouver’s mass transit system, also known as TransLink. He served as CEO since July 2008. Prior to TransLink, he had helped oversee infrastructure projects at Parsons Brinckerhoff Inc..

Voters in the Northeast approved $570.8 million of borrowing, including a $400 million open-space initiative in New Jersey, as New York City Mayor Michael Bloomberg won a third term and New Jersey Gov. Jon Corzine lost to Republican candidate Chris Christie.

The Municipal Bond Club of New York is hosting a charity event to raise money for children with Down syndrome.

New York's Metropolitan Transportation Authority will be looking across the pond for ideas on how to improve service and management and how to address its capital needs.

The Hospital for Special Surgery in New York City will begin a retail order period tomorrow for $85 million of bonds secured by a Federal Housing Administration-insured mortgage.

New York has used its dedicated highway and bridge trust fund more like a piggy bank than the pay-as-you go vehicle it was originally created as, according to a report released last week by Comptroller Thomas DiNapoli.

The $700 million of bonds to finance a professional basketball arena at the Atlantic Yards project in Brooklyn could be sold and the proceeds placed into escrow as legal challenges to the project are resolved, an official at the Empire State Development Corp. said yesterday.

The Dormitory Authority of the State of New York at its board meeting yesterday gave final approval for $1 billion of bonds to finance workers’ compensation settlements with New York State and $520 million of debt for two colleges.

The Port Authority of New York and New Jersey plans to competitively price $300 million of tax-exempt bonds today in what it expects to be its last bond offering of the year.

The Metropolitan Transportation Authority may delay payments to its pension fund if a New York State deficit-closing proposal reduces funds available to repay revenue anticipation notes, the MTA said yesterday.

The 2007 reform of New York State’s workers’ compensation laws was intended to reduce costs to employers. The policy change also began the gestation of a new credit that is expected to come due in the second week of November.

New York City’s construction boom is over, according to a report released last week by the New York Building Congress.

New York Gov. David Paterson again raised the spectre of a downgrade yesterday as he cajoled legislative leaders to take action to cut a $3 billion current-year budget deficit. The state faces a serious cash-flow problem in December that could affect its rating if nothing is done, he said.

Hotel developers are hoping the New York City Capital Resource Corp. will be the financing source of last resort for city projects that are either stalled or haven’t started due to the credit crunch.

Opponents of the Atlantic Yards project in Brooklyn yesterday filed a lawsuit in New York State Supreme Court in Manhattan to try to stop the mega-development from going forward.

New York Gov. David Paterson yesterday proposed spending cuts and revenue-raising measures to close a $3 billion gap in the current fiscal year.

Halfway into its fiscal year, New York’s projected budget deficit has grown to $4.1 billion, up from $3 billion last month, as personal income tax revenues have dropped, state Comptroller Thomas DiNapoli said yesterday.

The Mount Sinai School of Medicine at New York University is going to market next week with $369.6 million of tax-exempt bonds. The Dormitory Authority of the State of New York will offer the fixed-rate bonds to retail investors on Tuesday and to institutional investors on Wednesday.

The Metropolitan Transportation Authority broke state law when it agreed to new sale terms for the Vanderbilt rail yards in Brooklyn, plaintiffs allege in a suit filed yesterday in New York State Supreme Court.

The Metropolitan Transportation Authority’s $28.08 billion five year-capital plan is unaffordable, New York Gov. David Paterson said yesterday, adding that the State Department of Transportation’s $25.8 billion five-year plan is too costly as well.