Economy

VTA's auditor general dinged project managers for misleading communications and a "breach of transparency" regarding cost overruns and delays on the $12.2 billion San Jose extension of a Bay Area Rapid Transit line.

"Hiring Giles along with other senior and experienced hires over the last year demonstrates our deep commitment to public finance at a time when our competitors are laying off in droves or retrenching from the sector entirely," said Suzanne Shank, president and CEO of Siebert Williams Shank.

Altadena, California-based Episcopal Communities & Services for Seniors was able to sell bonds through a treasurer's conduit thanks to the new state law.

Ohio Gov. Mike DeWine rolled out the Welcome Home Ohio program, a product of the Ohio legislature's biennium budget bill, House Bill 33.

A bill with House and Senate support would change LIHTC bond requirements

Bonds issued through the Westchester County Local Development Corp. will create a centralized base for the nonprofit's blood distribution and lab operations.

Tourism raised $35.2 billion in taxes in 2022, consisting of $18.9 billion in federal tax revenue, $8.1 billion in state tax revenue and $8.2 billion in local tax receipts, according to a report.

Affordable housing expert Marian Zucker retired on Dec. 1 as head of S&P Global Rating's housing group after over 40 years of working in the public and private sectors of the municipal bond industry.

The governor proposed state funding for schools to slow the rise in property taxes. His Idaho Works program would provide $50 million toward $800 million in bonds to pay for water and transportation projects.

Lansing's Board of Water and Light is issuing $350 million of tax-exempt bonds in a deal that would fund a tender offer for $232.6 million of outstanding debt.

The Massachusetts Municipal Wholesale Electric Company deal, self-designated as green, will finance a soon-to-open 6.9 megawatt, 35-acre solar power project.

Office sectors in some Southwest cities, including Houston, are stressed due to elevated vacancy rates that may lower assessed values and property tax revenue.

Labor costs that continue to squeeze operating margins remain the biggest obstacle for the nonprofit healthcare sector.

Moody's also affirmed the A1 rating on the authority's $3.2 billion of general revenue bonds and the A2 rating on the $2.5 billion of general revenue junior indebtedness obligations.

Bonds used to buy eight senior living properties in Michigan and Ohio are likely to default within six months, S&P Global Ratings said.

Blaylock Van is bolstering its overall institutional capabilities and reaffirming its commitment to the muni market, said Leonard Jones, executive director of municipal banking and head of public finance, at the firm.

Medford, Oregon-based Asante Health enters 2024 with negative outlooks from Fitch and S&P as it works to complete expansion projects amid industry headwinds.

COVID made predicting the economic future even more difficult. While calls for a recession and rate cuts for this year didn't pan out, here's what experts see for 2024.

The reserve should have enough to cover bond payments for a year, according to an observer.

The stars are starting to align for the long-awaited bridge replacement which received a $600 million federal grant toward the project expected to cost up to $7.5 billion.