Category: CalPERS

Month in Review: May, 2015

26 June, 2015 (10:00) | Blogs, Boston, CalPERS, England, Essential posts, Month in review, Municipal bankruptcy, NIMBY, Parking, Stockton, United Kingdom, Workforce housing, Zaatari | No comments

By: David A. Smith There’s never a straight man in Monty Python — even if one character appears relatively sane, that illusion will shortly be upended.  Too much bull? Similarly, voters in England who might reject the Monster Raving Loony Party could have hoped that among the remainder – Conservatives, Labour, Liberal Democrats – there […]

Folly or catalyst? Part 3, “Something Downtown Stockton can be proud of”

15 May, 2015 (10:00) | Affordable Housing, California, CalPERS, Cities, Development, Economics, Housing, LIHTC, Municipal bankruptcy, Redevelopment, Stockton, Tax credits, US News | No comments

[Continued from yesterday’s Part 2 and the preceding Part 1.] By: David A. Smith As we saw yesterday, Stockton’s economic decline became possible to arrest only with bankruptcy and its slashing of liabilities, which made the city once again creditworthy and which also enabled it to rejoin the community of municipal entities reinvesting in their […]

Folly or catalyst? Part 2, “With bankruptcy being over”

14 May, 2015 (10:00) | Affordable Housing, California, CalPERS, Cities, Development, Economics, Housing, LIHTC, Municipal bankruptcy, Redevelopment, Stockton, Tax credits, US News | No comments

[Continued from yesterday’s Part 1.] By: David A. Smith As we saw yesterday, the economic decline of downtown Stockton has spanned several decades, and as the city’s finances worsened, the downtown – which ought to have been the engine of economic revival – rusted. Sources used in this post Stockton Record (September 17, 2014) Stockton […]

Folly or catalyst? Part 1, “I bought strong locks”

13 May, 2015 (11:21) | Affordable Housing, California, CalPERS, Cities, Development, Economics, Housing, LIHTC, Municipal bankruptcy, Redevelopment, Stockton, Tax credits, US News | No comments

By: David A. Smith A dying downtown is unspeakably depressing.  Property’s decay and death is painfully slow and painfully visible: fading signs, drawn blinds, leaves and scraps huddled in doorway corners, sun-bleached shingles and paint, all of them say, Nobody cares about this place.  Stockton — Attorney Jacob Loyal Benguerel became a pioneer of sorts […]

Bad news for bad faith

30 July, 2013 (09:00) | Bankruptcy, CalPERS, Litigation, Pensions, Stockton |

By:David A. Smith   As Stockton goes, so does Detroit?   Entering bankruptcy … follow the lead of those who’ve gone before   Detroit’s recent bankruptcy filing, though entirely predictable and fully foreshadowed, will focus public attention because of its political significance (the GM recapitalization, the President’s previous boast of having “refused to let Detroit […]