The credit crisis has caused soaring interest rates on municipal bonds, causing cities to look for other ways to fund projects. Nevertheless, numerous projects have been put on hold or face cancellation.
"Analysts said the dysfunction in the municipal bond markets appeared to signal the end of an era of relatively cheap money for governments and, probably, the start of an era of tough choices for communities. When the market starts moving again, they said, it will look a lot like the municipal bond market of 10 years ago, before the arrival of financial wizardry in the form of structured-finance products, which lowered borrowing costs but added big new risks. Instead, governments will probably be issuing plain-vanilla bonds with fixed rates of interest, higher than they are accustomed to.
And higher rates suggest some degree of belt-tightening, especially difficult in places where tax revenues are being squeezed because of falling real estate values and the slowing economy.
Municipalities will probably be able to function, but may not expand services, said John V. Miller, chief investment officer at Nuveen Asset Management, a municipal bond investment firm. 'For some, the level of service they provide will decline.'"
FULL STORY: Under Strain, Cities Are Cutting Back Projects
Affordable Housing Bond Nixed From the California Ballot
Supporters of the proposed bond say the measure will have more success in the future.
Opinion: California Should Invest In Housing, Not Dubious Desalination Projects
A controversial desalination plant in Orange County could receive massive state subsidies, but advocates argue the money would be better spent on affordable housing projects to relieve the state's housing crisis.
Detroit-Area I-275 Project Set to Start Work in July
MDOT will begin to repair and modernize a 24-mile segment of Interstate 275 this summer.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco's School District Spent $105M To Build Affordable Housing for Teachers — And That's Just the Beginning
SFUSD joins a growing list of school districts using their land holdings to address housing affordability challenges faced by their own employees.
The Tiny, Adorable $7,000 Car Turning Japan Onto EVs
The single seat Mibot charges from a regular plug as quickly as an iPad, and is about half the price of an average EV.
With Protected Lanes, 460% More People Commute by Bike
For those needing more ammo, more data proving what we already knew is here.
In More Metros Than You’d Think, Suburbs are Now More Expensive Than the City
If you're moving to the burbs to save on square footage, data shows you should think again.
The States Losing Rural Delivery Rooms at an Alarming Pace
In some states, as few as 9% of rural hospitals still deliver babies. As a result, rising pre-term births, no adequate pre-term care and "harrowing" close calls are a growing reality.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)