Northeast

The New York City Housing Development Corp. yesterday approved selling $535 million of tax-exempt and taxable bonds to finance the acquisition and rehabilitation of public housing so that it becomes eligible for federal funding.

The Dormitory Authority of the State of New York yesterday gave final approval to up to $778 million of bonds to refund certain state-backed debt.

Beginning in 2011 Essex County, N.J., may need to repay bondholders on more than $2 million of outstanding debt, as the Garden State Cancer Center is in technical default on the loan.

New Jersey is seeking letters of credit for up to $800 million of school construction debt issued by the New Jersey Economic Development Authority.

A record year of Wall Street profits and large bonuses will boost New York’s tax revenue but won’t erase the state’s fiscal problems, Comptroller Thomas DiNapoli warned yesterday.

New York’s Metropolitan Transportation Authority approved the sale next month of $500 million of dedicated tax fund bonds at its finance committee meeting yesterday. Pending approval by the full board tomorrow, most or all of the bonds will be marketed as taxable Build America Bonds.

Vermont will market $20 million of tax-exempt general obligation bonds on Thursday in increments of $1,000 with state residents and businesses getting priority. Investors will have to place orders with a registered broker-dealer.

Westchester County last week completed its first competitive deal under a pilot program that allows it to sell bonds using only an Internet auction platform.

Coney Island is slated to begin a revival that could lead to a bond transaction later this year for affordable housing.

New Jersey Gov. Chris Christie last week appointed Sen. Bill Baroni to serve as deputy executive director of the Port Authority of New York and New ­Jersey.