National League Of Cities News
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President Barack Obama said Charlotte, North Carolina, Mayor Anthony Foxx will press ahead as transportation secretary with the administration’s goals to rebuild and expand the nation’s infrastructure.
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Sugar Land, Texas, plans to pump $50 million into new parks around the city of 85,000, just the kind of project President Barack Obama wants to revitalize the U.S. economy by spurring investment in aging infrastructure.
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More than a third of U.S. municipalities plan to borrow in 2013 for capital projects, the most in at least two years, as officials gain confidence in the economic outlook, according to a National League of Cities survey.
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“There’s not a doubt in my mind that you will see a spate of municipal-bond defaults,” the banking analyst Meredith Whitney , nodding her head, said on a Dec. 19 segment of CBS Corp.’s “60 Minutes.”
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U.S. local governments may cut almost 500,000 jobs through next year to cope with sliding property taxes, a decline in state and federal aid and added need for social services, according to a report released today.
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Cities from New York to San Jose, California, facing almost $400 billion in unfunded pension liabilities, will be watching what San Diego Mayor Jerry Sanders calls his “ radical idea ” to cut costs.
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California’s voter-approved tax increase, billed as a boon to schools, also will ease counties’ financial burden as they take control of thousands of inmates who had been the state’s responsibility.
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San Carlos, a Silicon Valley suburb that calls itself the City of Good Living, will hire contractors to maintain parks and negotiate with county officials to take over policing, becoming the latest California community eliminating basic services to close budget deficits.
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The real-estate crash is catching up to U.S. municipalities.
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Trenton, the New Jersey capital that fired a third of its police force in September to help close an $18 million budget deficit, could ill afford to reject Governor Chris Christie’s offer of $22 million in aid this year.
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