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.
Stockton already captured headlines in Forbes' compilation of "Urban Affairs: America's Most Miserable Cities", capturing first place for two years. It also "has the second-highest foreclosure rate in [the] nation".
"Stockton, about an 80-mile drive east of San Francisco, boomed a decade ago, as eager buyers from Silicon Valley bought up homes in the area. But in the past several years, housing values have plummeted, and the city has steadily had one of the highest foreclosure rates in the country," writes Jennifer Medina.
"During a contentious meeting that stretched late into the night (on Feb. 28), the City Council decided, nearly unanimously, to begin mediation with public employee unions and major bond creditors in what is widely seen as the city's last-ditch attempt to restructure its finances outside of bankruptcy. Facing a budget deficit from $20 million to $38 million on a budget of roughly $165 million, the Council declared a fiscal emergency for the third year in a row."
Thanks to Gladwyn d'Souza
Read the full story: In California, City Teeters on Brink of Bankruptcy
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Amtrak, CN end decades-long dispute with eight-year agreement
The new operating agreement establishes an updated framework for the companies to work together, including processes to resolve disputes.
Northwest rail fans eager for Sept. 30 debut of Amtrak’s Airo fleet
Get ready for that new train smell and more seats. But they won’t go faster or run more frequently on the Cascades route in Washington and Oregon.
Trump administration unlawfully slashed $7 billion in clean energy grants, judge rules
The Environmental Protection Agency ended the Solar For All program, which provided the grants, after President Donald Trump’s inauguration.
Record-breaking wildlife overpass in Colorado brings 91% reduction in animal collisions
Prior to the overpass, vehicles were hitting one deer per day on Colorado’s Interstate 25.
California lawmakers approve just 5% of much-needed LA28 transportation funding
State legislators appear just as unwilling as Trump to pay for Olympics-related transportation projects.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Thousand Oaks
City of Wisconsin Rapids
Harvard University Graduate School of Design
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello