“While an improving U.S. economy is helping boost revenue for states, cities face declining aid and a drop in the property-tax take since the housing crash. Cities under fiscal stress are trying to avoid bankruptcy and bolster their finances, including Pontiac, Mich., which abolished its police and Cleveland, which demolished thousands of condemned structures to preserve property values. Such actions aren’t always sufficient.”
“Governor Chafee took his opinion on what to do with the bankrupt Central Falls national, telling MSNBC that it should merge with the city of Pawtucket.”
I got like twenty bucks. Can I just, like, buy Central Falls?
“Based on an initial review, we’re optimistic that this budget is a win for the people of Providence,” said David Ortiz, spokesman for Providence Mayor Angel Taveras. “We thank the General Assembly for its strong effort to support the Capital City during this difficult time.” But same could not be said of Central Falls, the financially troubled square-mile city that is currently being run by a state-appointed temporary receiver.
“The hurdles facing Central Falls are formidable: it has a high-level of fixed costs yet only a limited ability to raise revenue, Moody’s said. The median family income is just under 54 percent of the U.S. average.” I still don’t understand why CF is actually a town.