CHICAGO-Officials of the City Council committee have approved a proposal that will allow voters to decide if banks should pay transfer taxes when they take possession of a house through foreclosure.

NEW YORK CITY-Citigroup Inc. and Goldman Sachs Inc. will be selling commercial mortgage-backed securities worth $788.5 million.

NEW YORK CITY-The 48-story Cassa Hotel and Residences located at 70 W. 45th St. is slated to open on Aug 1 2010.

HIGH POINT, NC-Vornado Realty Trust is expected to surrender its property rights on a furniture mart measuring two million square feet in High Point, NC, to its mortgage holders.

GREENWOOD, MS-Greenwood-based Mike Rozier Construction Co. has built over 200 stores for Dollar General Co. since 1997.

LAS VEGAS-A bankruptcy court in Las Vegas has approved the plan of General Growth Properties Inc. to auction off 60 acres of land in Summerlin residential development in Las Vegas.

ORLANDO-A joint venture between Mountain Real Estate Capital and Shea Homes has purchased a parcel of land for $15 million in Orlando from Bank of America Corp.

NEW YORK CITY-The owner of 2 Rector Pl., Larry Gluck, and its B note holder, Savanna Partners, have said that they have successfully worked a deal to create an escrow, which will enable them to re-tenant the 430,000-square-foot building.