Free

Cities that Cope: Confronting Financial Challenges in the Urban Landscape

Event Information

Share this event

Date and Time

Location

Location

University of Maryland Francis King Carey School of Law

500 W. Baltimore St.

Baltimore, MD 21201

United States

View Map

Event description

Description

The University of Maryland Francis King Carey School of Law

proudly presents

Cities that Cope: Confronting Financial Challenges in the Urban Landscape


Annual Symposium of the
Maryland Journal of Business and Technology Law

Description:
The Symposium will facilitate a discussion about the financial pressures and obligations that confront municipalities and propose strategies to address those challenges.The symposium will specifically cover the clash between social and fiscal obligations within municipalities, the municipal bonds market, economic development and entrepreneurial initiatives, and alternatives to Chapter 9 bankruptcies.

Schedule:

9:00 AM

Welcome and Introductory Remarks


9:15 AM

Panel 1: Challenges Facing Our Cities Since the Great Recession of 2008, many U.S. municipalities have faced mounting revenue, expense, and other fiscal challenges. These often are compounded (or at least evidenced) by seemingly intractable social welfare problems facing the municipalities’ residents. Indeed, municipalities—and those governing the municipalities—play the central role in promoting and protecting the fiscal health of their local public sectors, supporting private sector economic activity, and ensuring the health and welfare of their citizens. In this context, municipalities often must make difficult choices and attempt to balance their financial obligations with the obligation to deliver critical services, such as the provision of public safety, education, and health, as well as water, sewer and transportation services. This panel will explore the nature of these many challenges and how municipalities are working to balance them.

Tentative Speakers:

Anirban Basu, Sage Policy Group

Bill Brandt, Development Specialists, Inc.

Jean-Pierre Aubry, Boston College's Center for Retirement Research


10:45 AM

Panel 2: The Municipal Bond Market Prior to 2008, municipal bonds were viewed as a relatively safe (and generally tax-free) form of investment backed by the power of municipalities and states to protect the creditor/investor. Since the Great Recession of 2008, however, troubled municipalities often have defaulted on their bond obligations, or at least encountered a need to fundamentally restructure those obligations. The majority of municipal bond defaults have occurred in bonds issued by municipalities to finance revenue-producing enterprises (i.e., highways, bridges, utilities, swimming pools, harbors, etc.). These services are necessary in a modern era to ensure the growth and success of cities, but now represent a risk for investors. This panel will discuss issues facing all participants in the municipal bond market and how they are working to innovate and address these challenges.

Tentative Speakers:

Robert G. Flanders, Whelan, Corrente, Flanders, Kinder & Siket LLP

Vincent Buccola, The Wharton School of the University of Pennsylvania

Vince Marriott, Ballard Spahr LLP

Kristin Going, Drinker Biddle


1:15 PM

Panel 3: Economic Development and Entrepreneurial Initiatives Increasing business opportunities on the state and local level have allowed struggling municipalities to recover from financial setbacks. Policymakers play a key role in financing and encouraging economic growth and job creation. This panel will discuss the actions a municipality may take to encourage economic and job growth, focusing on what has and has not worked, especially in recent situations of economic distress.

Tentative Speakers:

Elizabeth Sachs, Job Opportunities Task Force

Michael Gill, Maryland Department of Commerce

Jennifer Vey, The Brookings Institution


2:45 PM

Panel 4: The Chapter 9 Alternative When a municipality becomes overwhelmed by its financial and other challenges, chapter 9 of the Bankruptcy Code may provide much-needed relief and support for the municipality and all of its stakeholders. Nevertheless, municipal bankruptcy is not without risk and, for this and other reasons, municipalities may hesitate to file a chapter 9 bankruptcy case. The post-2008 Recession period has seen several cities invoke chapter 9 bankruptcy—some would say even that they have done so quite successfully. This panel will discuss the tools available to municipalities in chapter 9 and how those tools can best aid a municipality and its stakeholders.

Tentative Speakers:

Melissa Jacoby, The University of North Carolina School of Law

The Honorable Thomas Bennett (Ret.), Bailey Glasser LLP

Kevyn Orr, Jones Day


4:15 PM

Closing Remarks



Share with friends

Date and Time

Location

University of Maryland Francis King Carey School of Law

500 W. Baltimore St.

Baltimore, MD 21201

United States

View Map

Save This Event

Event Saved