In 1993, Jefferson County, Alabama issued $3 billion in bonds to pay for a sewer system that would serve 150,000 people. Today, their financial situation is so bad they've stopped paying creditors and are close to declaring bankruptcy.
Governing reports on a series of poor decisions that lead to the county's woes.
"As sewer rates rose to meet those costs and Jefferson County struggled under its debt, county officials looked for a way to lessen its loan payments. In 2002 and 2003, they refinanced their bonds with variable-rate and auction-rate securities. Auction-rate securities are bonds where the interest rate is reset by auctions conducted by brokerage firms every few weeks. 'It's a little like someone buying a house and getting a pretty good 30-year fixed-rate mortgage,' says Christopher 'Kit' Taylor, former executive director of the Municipal Securities Rulemaking Board. 'Then somebody says, 'Why don't you get an adjustable-rate mortgage?''"
FULL STORY: Drained
Baltimore Sewer Backup Assistance Programs Stall
Two programs aimed at helping residents safely clean up overflows caused by aging pipes are in limbo due to a dispute between the city and the EPA.
Los Angeles County First to Recommend Resumption of Indoor Masking
Due to the emergence of the more transmissible Delta variant, Los Angeles County's masking guidance goes beyond what the CDC and the state health department recommend for those who are fully vaccinated. St. Louis has joined them.
How Cities Are Using Wastewater to Test for COVID-19
Some scientists and city officials are moving ahead with a different way to track the virus’s spread: wastewater testing.
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco Suspends Traffic Calming Amidst Record Deaths
Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.
Adaptive Reuse Will Create Housing in a Suburban Texas Strip Mall
A developer is reimagining a strip mall property as a mixed-use complex with housing and retail.
Study: Anti-Homelessness Laws Don’t Work
Research shows that punitive measures that criminalized unhoused people don’t help reduce homelessness.
In U.S., Urban Gondolas Face Uphill Battle
Cities in Latin America and Europe have embraced aerial transitways — AKA gondolas — as sustainable, convenient urban transport, especially in tricky geographies. American cities have yet to catch up.
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.
Heyer Gruel & Associates PA
JM Goldson LLC
Custer County Colorado
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Jefferson Parish Government
Camden Redevelopment Agency
City of Claremont