Economy

CHICAGO — The Regional Transportation Authority of Illinois will receive $442 million in long-awaited state bonding proceeds for capital projects, representing the first installment of $2.7 billion of transit funding in the state’s capital budget, Gov. Pat Quinn announced Thursday.

OAKLAND, Calif. — It’s not dead yet.

WASHINGTON — Congress only has a very small window of time early next year to approve a multi-year transportation bill or it will risk losing the opportunity to do so for another two years, congressional aides said at a meeting here yesterday.

BRADENTON, Fla. — Crews this week began geotechnical and survey work on the first phase of Florida’s $2.6 billion high-speed rail project from Tampa to Orlando, which is set to be built in the median of Interstate 4.

The New York State Thruway Authority approved a personal income-tax bond deal of up to $600 million at its monthly board meeting Wednesday.

The Louisiana State Bond Commission will meet today to consider a resolution setting the parameters of a $435 million negotiated bond sale for the state’s transportation program. The bonds are expected to price by the end of August.

The Massachusetts Department of Transportation is looking for underwriters to work on a potential refunding of $145 million of outstanding Western Turnpike debt.

DALLAS — Redevelopment of Denver’s Union Station gains momentum this week with the closing on a $146 million loan from the federal government.

CHICAGO — A Wisconsin Supreme Court decision overturning the state diversion of $200 million from a medical malpractice fund will force a new round of budget cuts, Gov. Jim Doyle’s administration said Tuesday.

The Senate may vote on a multi-year Federal Aviation Administration bill this week that could include an increase in the cap on passenger facilities charges, a key lawmaker and others said Tuesday at a meeting here sponsored by the American Association of Airport Executives.

Moody’s Investors Service has dropped Juneau County’s rating to A2 from A1 due to a weakened general fund and a negative balance in its health services fund. The downgrade affects $12.4 million of outstanding general obligation debt.

Moody’s Investors Service last week upgraded HealthPartners Inc.’s rating to A3 from Baa1, citing a track record of profitability with improved performance in fiscal 2008 and 2009.

The Detroit Economic Development Corp. last week approved an inducement resolution to issue $15 million of recovery zone facility bonds to finance construction of a new medical office building in the city.

DALLAS — New Orleans is spending millions to purchase a hospital damaged by Hurricane Katrina and renovate the vacant facility to serve residents of the city’s east side.

DALLAS — Harris County, Tex., is considering two options for refunding $205 million of toll-road put bonds on Thursday.

Pennsylvania Gov. Edward Rendell Monday called for a special session of the legislature to begin Aug. 23 to address the state’s $472.5 million transportation funding gap.

WASHINGTON — About $23 billion of transit bonds that are backed by sales tax have held onto strong credit ratings despite taking a hit from the economic recession and retaining their negative credit outlook, Moody’s Investors Service said Friday in a special report.

BRADENTON, Fla. — The Georgia Department of Transportation is moving forward with its second public-private partnership project — a long-discussed multi-modal passenger terminal in downtown Atlanta.

CHICAGO — Fitch Ratings stripped $9.3 million of special-assessment revenue bonds from the Toledo-Lucas County Port Authority of their investment-grade rating Wednesday.

ALAMEDA, Calif. – California Treasurer Bill Lockyer raised eyebrows this week by questioning the viability of some segments of the state’s proposed high-speed passenger train system.