New York's Metropolitan Transportation Authority doesn't plan to sell bonds against a lease of Hudson Rail Yards to Tishman Speyer Properties LP, but the option will remain on the table, chief financial officer Gary Dellaverson said yesterday at the MTA's board meeting.

The authority faces an approximately $2 billion to $3 billion shortfall in its current capital plan which runs through the end of 2009 due to construction cost escalation, executive director and chief executive officer Elliot Sander said yesterday.

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