Northeast

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.

TRENTON — New Jersey Gov. Jon Corzine yesterday delivered his last state of the state speech, highlighting his accomplishments during the past four years and acknowledging his failure to cut away at the state’s more than $33.87 billion of outstanding debt.

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.

New Jersey lawmakers yesterday were set to vote on fiscal measures during the final day of the legislative session, including a bill that would increase mayoral powers in Camden, which has been under state control since 2002.

Pennsylvania Wednesday will take bids for $900 million of ­general obligation debt — ­including the largest competitive Build America Bond transaction thus far.

The Delaware River Joint Toll Bridge Commission is working on a new $310 million bridge to replace the current Interstate 95/Scudder Falls Bridge that connects New Jersey and Pennsylvania and is more than 50 years old.

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

Connecticut is tapping new bond programs to set the stage for a large-scale waterfront development in Stamford.