News

State-appointed receiver details Harrisburg recovery plan

Written by Matt Paul, Reporter/Producer | Sep 5, 2013 3:17 AM
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(Harrisburg) -- Harrisburg City Council is beginning to pour over the state-appointed receiver's 350-page recovery plan.

Receiver William Lynch says the agreed to solution all parties are seeking is truly unique, and he believes it can be a model for other financially distressed cities across the country.

While the lease of Harrisburg's parking assets could generate about $250 million, he notes it's not a one-time concession deal.

"What we wanted was to craft something that would provide the city with a stream of income on into the future," Lynch explained on Radio Smart Talk. "We saw no value in selling the city's assets and then having the city in the same financial distress that it's in today."

Tied to the lease of parking assets is the sale of Harrisburg's trash incinerator, which could net roughly $130 million.

Published in Harrisburg, News

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