Municipal Bankruptcy

Blog post
June 24, 2016, 6am PDT
A case study of Vallejo shows how the city is continuing revitalization efforts without the powerful tools provided by its former redevelopment agency.
Linda Day
August 31, 2015, 10am PDT
The Lincoln Institute of Land Policy has launched a new campaign "to help cities confront an epidemic of insolvency and restore the capacity for local governments to provide basic services and plan for the future."
Lincoln Institute of Land Policy
November 3, 2014, 10am PST
Stockton, California symbolized the worst effects of the Great Recession on local governments—not to mention, to some, California's decline.
Governing
Blog post
September 21, 2014, 1pm PDT
One of the scariest things about Detroit's bankruptcy proceedings is that the fiscal choices that city made has been repeated in many other cities.
Edward Poteat
January 18, 2014, 11am PST
With a 5-0 emotional vote by the city council on Thursday night, the Jurupa Valley City Council reluctantly initiated the process of disincorporation, which would result in the three-year-old city being governed by Riverside County.
The Press-Enterprise
September 26, 2013, 8am PDT
Before Detroit's bankruptcy, Stockton held the ominous title of largest city in the U.S. to go bankrupt. Unlike Detroit, it was largely tied to the foreclosure crisis. Home prices have jumped 30% in the last year. What caused the turnaround?
The Sacramento Bee
September 19, 2013, 8am PDT
All four are in Riverside County (east of LA). Reduced vehicle license fees, shifting funds from cities to prisons and a huge state budget deficit created the perfect storm to drain expected revenues. Hope was placed in a bill to fix it.
Bloomberg News
July 19, 2013, 5am PDT
Yesterday, Detroit became the largest municipality in U.S. history to declare bankruptcy. Such an action is unprecedented, so the path forward is murky. Yet one word seems to signify what lies ahead over the next year: battles.
Detroit Free Press
July 18, 2013, 2pm PDT
After months of speculation, and decades of mismanagement and population decline, Detroit has filed for bankruptcy. The milestone is the culmination of a turbulent half-century for the city. But some see it as a chance for a new start.
March 7, 2013, 5am PST
Looking to get out from under one of the primary factors for financial distress - pension obligations - city leaders across the United States are viewing bankruptcy as "a valuable tool in a city’s financial toolbox," reports Liz Farmer.
Governing
January 24, 2013, 8am PST
San Bernardino was the third city in California to file for bankruptcy last year. Within the past year it has descended from a model of crime reduction to a crime-plagued city.
The New York Times
October 12, 2012, 10am PDT
In the wake of three municipal bankruptcies in California this year, Moody's Investor Services is placing thirty cities on credit review. These are not poor ones either, but in the heart of Silicon Valley and other wealthy Bay Area cities.
San Francisco Chronicle
August 10, 2012, 8am PDT
As the fear of more local government bankruptcies rises, William Fulton argues that sprawling development patterns play a key role in leading cities to run in the red.
CNN
July 18, 2012, 10am PDT
Chris McKenzie, Executive Director of the California League of Cities, discusses the specter of bankruptcy and the structural difficulties cities face in addressing their fiscal deficits. The San Bernardino bankruptcy does not mean the worst is over.
The Planning Report
July 13, 2012, 12pm PDT
As the third California city in a month files for bankruptcy protection, fears of a domino effect worry many. While bankruptcy may seem like an enticing solution, officials that have gone through it caution about the downside.
Los Angeles Times
March 1, 2012, 2pm PST
Stockton, a city of 300,000 in California's ailing Central Valley, may become the largest city in the U.S. to declare bankruptcy. Agreements with public employee unions and major bond creditors may be all that stand in the way of default.
The New York Times - U.S.
March 11, 2011, 10am PST
Budget-troubled Jefferson County, Alabama -- once thought to be on the brink of the largest municipal bankruptcy in U.S. history -- is moving forward with plans to clean up its finances.
Reuters