The municipal bond market is drying up, which is causing Canadian cities to rethink their budgeting for infrastructure projects.
"With financial markets in flux and the economy slowing, municipal governments across Canada are bracing for the fallout on their budgets. Some cities are considering delaying capital projects while others are looking to trim spending. Falling house prices could also translate into less money from property taxes, a key source of revenue for all municipalities.
While most Ontario communities borrow money through the provincial government, to take advantage of its stronger credit rating, Mr. Haddad said some municipalities rely on debt markets to fund part of their operations, and the municipal bond market has all but dried up."
FULL STORY: Cities gird for impact as economy falters
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Planetizen Federal Action Tracker
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Record Temperatures Prompt Push for Environmental Justice Bills
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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.
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Jessamine County Fiscal Court
Institute for Housing and Urban Development Studies (IHS)
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Toledo-Lucas County Plan Commissions
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NYU Wagner Graduate School of Public Service