Category: CalPERS

Month in Review: June, 2015

17 July, 2015 (10:00) | Bankruptcy, California, CalPERS, Delhi, Greece, India, Municipal bankruptcy, Olympics, Pollution, Public-employee pensions, Stockton, Urbanization, US News | No comments

By: David A. Smith Thought of the day, courtesy of my most faithful reader: If Vladimir Putin hadn’t wasted $50 billion (yup, billion) creating the instant-white-elephant of Sochi’s Olympics, he would have had the cash to buy Greece out of its difficulties and dramatically upset the European applecart. ”So, Vlady, you got that fifty extra-large […]

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 |

[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 |

[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 |

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 […]