Unbalanced contracts, layers of bureaucracy and weak contract management make New York transit projects expensive and time-consuming, according to Scott Rechler.
Municipals qwere mixed a day after the Federal Reserve raised interest rates while in the primary, a New York issuer competitively sold $1.6 billion of notes.
The handshake deal boosts reserves, funds a "fair fares" discount for low-income subway riders for one year and provides Fair Student Funding for city schools.
State authorization for design-build use on a Brooklyn-Queens Expressway work is a door-opener, New York City transportation Commissioner Polly Trottenberg said.
