NEW YORK Dec 23 Harrisburg, Pennsylania's
fiscally troubled capital, will have a balanced budget through
2016 after the sale of the Harrisburg incinerator and the
leasing of the city's parking lots, the state governor said on
Governor Tom Corbett said the combined transactions remove
$360 million in debt on the incinerator. The transactions were a
critical component of the recovery plan for the cash-strapped
"As cities throughout the country face dire fiscal
emergencies, we have never given up on Harrisburg and its
people," Corbett said in a statement.
The city filed for bankruptcy in 2011 but state lawmakers
barred it, and it has not paid its general obligation debt
service since March 2012.
Harrisburg's recovery plan was approved by a court and
crafted by the city's state-appointed receiver, William Lynch.
"While there is still much work to be done, these
transactions provide the city officials the tools to craft a
predictable and stable economic future," Lynch said.