What’s after Bankruptcy? Lessons in Governance Reform and Financial Planning from Other Cities

Last Updated: 11/21/2013

In the wake of Detroit’s bankruptcy filing this program will examine how other cities facing fiscal crises regained their footing. Local governments themselves have responded to crises so as to re-establish their borrowing credentials and to re-fresh their ability to deliver public services. At the same time, state government intervention (and oversight) has been another prominent feature of recovery. Conference participants will address models of local governance change and state intervention based on the experiences of New York, Philadelphia, Central Falls, Rhode Island and others. In addition, best practice state government oversight programs such as the North Carolina Local Government Commission will be examined. What are the common themes, tools and strategies that cities have used to emerge from fiscal troubles? What strategies and governance changes seem most effective in maintain future fiscal stability?

 

Note: Upon arrival, please have your Photo I.D. available at the registration check-in.

 

Dress code: Business attire

 


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11/07/13
1:30 PM
Registration and Coffee
2:00 PM
Welcome
William Testa, Senior Economist and Vice President, Federal Reserve Bank of Chicago
2:15 PM
Overview of Local Government Fiscal Position—National and Michigan Perspectives
Moderator
William Testa, Federal Reserve Bank of Chicago
Speakers
Michael Pagano, College of Urban Planning and Public Administration, University of Illinois Chicago
Debra Horner, University of Michigan
3:00 PM
Lessons from Past Big City Fiscal Crises—New York and Philadelphia

How Did These Cities Regain Their Fiscal Footing? What Monitoring Systems Might Be Devised to Identify Fiscal Stress and Allow for Early Intervention?

Moderator
Rick Mattoon, Policy Advisor, Federal Reserve Bank of Chicago
Speaker
Robert Inman, Wharton School, University of Pennsylvania
Discussant
Anthony Minghine, Associate Executive Director and Chief Operating Officer, Michigan Municipal League
4:00 PM
Break
4:15 PM
Lessons from Current Bankruptcy Filings

Best Practices in Governance and Budgeting (and Mistakes) in Restoring Sustainable Fiscal and Economic Performance

Moderator
Martin Lavelle, Senior Associate Economist, Federal Reserve Bank of Chicago – Detroit Branch
Speaker
Frank Shafroth, George Mason University, MacArthur Foundation Study on Recent Bankruptcies
Discussant
Joyce Parker, The Municipal Group, LLC
5:15 PM
Reception
11/08/13
8:30 AM
Registration and Continental Breakfast
8:30 AM
View from the Investor Community

What Structures Have Been Used to Facilitate Market Access for Distressed Communities? Will Detroit Change the Markets Focus on the Structural Strength of Credit Pledges versus the Fundamental Credit Quality of Distressed Communities?

Moderator
Jeff Guilfoyle, President, Citizens Research Council of Michigan
Speaker
Lisa Washburn, Municipal Market Advisors
Discussant
Bill Pulte, Pulte Homes
10:00 AM
Break
10:15 AM
Best Practices for State Intervention? North Carolina, Others
Moderator
Paul Traub, Business Economist, Federal Reserve Bank of Chicago – Detroit Branch
Speaker
Stephen Fehr, Pew Center for the States
Discussant
Eric Lupher, Citizens Research Council of Michigan
11:30 AM
Adjourn

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