Many voices have raised concerns over municipalities defaulting on bonds during these tough economic times. But as this op-ed argues, those concerns are misguided.
Writing for The New York Times, Iris J. Lav argues that state and local borrowing is far less susceptible to annual budgetary concerns because it is, by its nature, long term.
"[T]his fear of an imminent bond crisis reflects a profound misunderstanding of the differences between the short- and long-term challenges facing state and local governments, and what these governments can do to address them. Indeed, such talk hurts those governments in the long run by undermining investor confidence and raising their borrowing costs.
Municipal bond default is actually quite rare: no state has defaulted on a bond since the Depression, and only four cities or counties have defaulted on a guaranteed bond in the last 40 years. A few minor bond defaults do occur each year, usually on debt issued by quasi-governmental entities for projects that didn't pan out, like sewers for housing developments that never were occupied."
FULL STORY: Unbreakable Bonds

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Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

DARTSpace Platform Streamlines Dallas TOD Application Process
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As part of 43% cut to federal rental assistance, Trump is proposing a two-year limit on public housing tenure for “able bodied adults.”

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Urban Design for Planners 1: Software Tools
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City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)
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