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“zombie-like” in PA Legislature

May 10, 2014

Bloomberg News in Chicago Tribune: “Pa. legislators ponder future of ‘zombie towns’” by Romy Varghese:

The House bill, with sponsors from both parties, would force distressed municipalities to alleviate fiscal strains within five years, unless they receive a three-year extension. Otherwise, the communities would fall under state receivership.

This would shake them out of their “zombie-like status,” Ross said.

That’s Pennsylvania State Rep. Chris Ross, a Republican from East Marlborough Township west of Philadelphia

zombie Pennsylvania state chris ross

This zombie reference is about the finances of the town municipalities with changing demographics in shrinking communities. Noted particularly are the dwindling coal and steel industries. The result could be a series of mergers and acquisitions amongst these townships.

See more ZombieLaw posts on real estate or urban planning.

And consider possible connections to zombie foreclosures and other zombie debts.

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From → debts, economics, politics

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