HARRISBURG PATRIOT-NEWS Op-Ed: The city of Harrisburg has come a long way in the last year or so. The city now has a workable financial recovery plan approved and directed by the court as well as a strong receiver and increased market momentum in terms of the incinerator sale and the leasing of parking operations.
There also is now an endgame in sight, much as Mayor Linda Thompson anticipated when she first requested protection under the Act 47 municipal financial recovery process in October 2010. The endgame, when it arrives, will be clear and obvious to everyone.
After asset valuations are determined and the best deals are cut to sell the incinerator and lease city parking operations, any stranded debt not willingly covered by the stakeholders will likely trigger a serious discussion of municipal bankruptcy… (more)
