HARRISBURG PATRIOT-NEWS Editorial: …[A]s PennLive’s Emily Previti reported Wednesday, the end may be in sight for Pennsylvania’s Capital City’s long-running financial soap opera, with Harrisburg receiver William Lynch’s expected announcement that deals have been reached to get the city out from under its crushing debt.
While details aren’t available, the general concepts behind the plan remain the same: The city will sell the incinerator, enter into lease deals putting the public parking garages in the hands of private operators who agree to share revenue with the municipality, and provide funds that will allow the city to operate and work its way back to a time when it can borrow money again.
If this works, and it’s still up to a judge and City Council to approve the deal reached by Lynch and his team, the plan will avert a bankruptcy filing and keep Harrisburg out of the ranks of municipal ignominy that include Stockton, Ca. and Detroit… (more)
EDITOR: Harrisburg’s gain; Lancaster’s loss?
It may be a light at the end of tunnel for Harrisburg, but it sounds like an oncoming train to Lancaster.