Clear The Air News Blog Rotating Header Image

Failed Incinerator

The Wall Street Journal

MARKETS

FEBRUARY 7, 2012

Pennsylvania Plan Sees a Slimmer Capital City

MARKETS

FEBRUARY 7, 2012

Pennsylvania Plan Sees a Slimmer Capital City

BY KRIS MAHER

A state-appointed financial custodian released a recovery plan Monday for Harrisburg that includes the sale or lease of city assets and concessions by unions, moving Pennsylvania’s cash-strapped capital closer to resolving its financial crisis.

The plan drafted by David Unkovic, Harrisburg’s receiver, requires the city to sell or lease its failed incinerator, which is at the center of its debt trouble, as well as parking garages, one of its top revenue generators.

Concessions also are needed from unions to help fix a city operating deficit, said Mr. Unkovic, whose plan must be approved …

BY KRIS MAHER

Copyright 2012 Dow Jones & Company, Inc. All Rights Reserved

ACAP Enabled Copyright ©2012 Dow Jones & Company, Inc. All Rights Reserved

http://online.wsj.com/article/SB10001424052970203315804577207250006205834.html

Leave a Reply

Your email address will not be published. Required fields are marked *