WHAT IS THE RECIPE
· “Cities that are most vulnerable to financial crisis are those that relied heavily on property tax revenue during the real estate boom.”
· “Cities with strong industry, business and commercial districts are likely to fare better, experts said.”
· “A city's budget problems can have a ripple effect in the long run.”
· “Cuts to the police department usually translate to higher crime rates, while deferred maintenance leads to more potholes and overgrown parks.”
· “To raise money, cities often increase fees and taxes, which hurts local businesses and homeowners.”
· “Over time, property values decline and tax revenue falls even further.”
Quotes taken from 2/24/08 SF Chronicle Article: "Vallejo, others face cash crunch"
DOES THIS SOUND LIKE PACIFICA??