Economy

Imagine Downtown Inc., an affiliate of the Atlanta Development Authority and Central Atlanta Progress, announced Tuesday that it had closed on the first New Market Tax Credits loan for Aerotropolis Atlanta, a project adjacent to Hartsfield-Jackson Atlanta International Airport that will include a regional job and retail complex.

The Dormitory Authority of the State of New York yesterday approved up to $1.27 billion of refundings of state-backed debt and took actions to deal with the downgrade of a liquidity provider used by some of its conduit borrowers.

DALLAS - The Lower Rio Grande Valley would get its first medical school under legislation awaiting Texas Gov. Rick Perry's signature.

Rep. Rosa DeLauro, D-Conn., has introduced legislation to establish a National Infrastructure Development Bank that could issue "public benefit bonds" exempt from state and local taxes to finance infrastructure projects over the next 15 years.

New Jersey will offer in the next few weeks nearly $1 billion of refunding and new-money debt backed by the state.

DALLAS - Legislation to transform the way Texas allocates funding for highway projects was caught in a backlog of bills yesterday as the state Legislature neared the end of its 2009 session.

CHICAGO - With a long-sought, nearly $29 billion capital budget headed to his desk, Illinois Gov. Pat Quinn on Friday said he won't endorse the package before work is also completed on ethics reforms and an operating budget that includes an income tax increase to help close a record $12 billion deficit.

Sen. Kay Bailey Hutchison has introduced a bill that would prohibit states, private parties and others from adding tolls on existing toll-free federal highways, bridges and tunnels built with federal funding.

BRADENTON, Fla. - The North Carolina Turnpike Authority received its first ratings as it plans the upcoming issuance of $636 million of debt for its first toll road project - the 18.8-mile Triangle Expressway around Raleigh.

A panel of experts created by the 2009 Arkansas General Assembly to study ways of financing upgrades and improvements to the state’s road network met last week at the capitol for its first meeting.

BRADENTON, Fla. - For the second time in a month, Moody's Investors Service Friday placed one of Florida's highly rated credits on watch for possible downgrade.

DALLAS — The Louisiana State Bond Commission gave its go-ahead on Thursday to the third segment in a series of variable-rate fuel tax bonds that will provide a total of $485 million in proceeds this year to a constitutionally mandated road and bridge program.

The Massachusetts Turnpike Authority yesterday approved Jeffrey Mullan as executive director while it waits to see if the state will avert scheduled July 1 toll hikes with a $100 million bailout.

Portsmouth expects to sell $12 million of general obligation refunding bonds next Wednesday.

The New York State Thruway Authority approved two state-backed tax-exempt bond deals totaling $716 million at its board meeting yesterday.

Long Island Rail Road president Helena Williams will take over as interim executive director and chief executive officer New York’s Metropolitan Transportation Authority, pending board approval, the MTA announced Thursday.

BRADENTON, Fla. - The recession and collapse of the credit markets have forced the Mississippi Department of Transportation to push back the procurement schedule for its first public-private partnership - a new 12-mile toll road.

CHICAGO - Chicago-based Resurrection Health Care's "sizeable" losses, which have eroded the Catholic system's liquidity and debt service coverage ratios, prompted Standard & Poor's yesterday to revise its outlook on the underlying BBB-plus credit to negative from stable.

The Senate Finance Committee is considering mandating nonprofit hospitals to provide a minimum level of charitable patient care and meet other requirements to retain their tax-exempt status and issue 501(c)(3) bonds.

BRADENTON, Fla. - The Florida Department of Transportation said yesterday that the agency did not receive bids from any of the six respondents that had shown interest in leasing an existing 78-mile-long toll road known as Alligator Alley.