The recent announcement by Comptroller Brad Lander regarding the New York City Employees’ Retirement System’s investment of up to $60 million in affordable housing units marks a significant milestone in the city’s efforts to address the housing crisis. With nearly 35,000 units at stake, the partnership aims to not only preserve these units, 80% of
Politics
The U.S. public-private partnership activity exhibited a weakness in the past year, yet the long-term trend of an increasing number of P3s remained robust. The future outlook seems promising with a healthy project pipeline and infrastructure funds eagerly looking to invest. The southeast region maintained its lead in this space, with significant projects lined up
After much deliberation and negotiation, Virginia’s two-year, $188 billion budget has finally been officially approved. This resolution was made possible with the help of compromise and a stronger than expected tax collection season. Governor Glenn Youngkin emphasized the role of the labor market and business investments in driving record revenues for the Commonwealth. The approval
Virginia Beach recently made a move to utilize the municipal bond market for funding a surf park development which has garnered attention due to its backing by multi-Grammy award winning artist Pharrell Williams. The Virginia Beach Development Authority announced the pricing of approximately $189 million in debt to support the construction of Atlantic Park. This
The recent bipartisan passage of the $105 billion Federal Aviation Administration bill includes a significant increase in funding for the Airport Improvement Program (AIP). This program, which supports new airport infrastructure projects such as runways, will see a 20% increase in funding, bringing it to $4 billion annually or $20 billion over the next five
The House Committee on Transportation and Infrastructure is now grappling with the issue of how much the federal government should contribute to the reconstruction of the Francis Scott Key Bridge, originally financed by bonds. Following the collapse of the bridge due to a collision with a container vessel, President Biden expressed his intention for the
The Colorado Legislature recently wrapped up its session after achieving significant milestones in various areas. The session saw the passing of a fiscal 2025 budget, changes in school funding, a property tax cut, and measures targeted at advancing multi-billion-dollar passenger rail projects and a bond-financed purchase of a historic hotel. Senate President Steve Fenberg described
The Municipal Securities Rulemaking Board (MSRB) has recently sought approval from the Securities and Exchange Commission to revise its supervision rule in light of the growing prevalence of remote work settings. This amendment to Rule G-27 on supervision aims to align MSRB regulations with those of the Financial Industry Regulatory Authority (FINRA), providing dealers with
The Virginia General Assembly has seen its fair share of battles and negotiations regarding the state’s budget. From clashes over environmental issues to school funding, the process has been anything but smooth. The saga that unfolded between the state’s Republican governor and the Democratically controlled legislature has kept the budget in a constant state of
In a time when federal initiatives for student loan forgiveness are at the forefront of discussions, some states and municipalities are taking a different approach. By linking bond-financed mortgage programs to student loan forgiveness, these entities are aiming to boost homeownership among specific groups. One such program is the Maryland SmartBuy program, designed to assist