Public asset sales could put a dent in city's debt
January 16, 2012By Holly Otterbein and Doron Taussig
Soon, the city might sell off some public property — like the garage under Love Park — to deal with these tough fiscal times.
Mayor Nutter has created a task force to look at the possibility of selling public assets, among other things. And new Council President Darrell Clarke supports asset sales too, in order to pay off the city's debt and avoid more tax hikes.
We talked to Clarke for this week's podcast to find out what the city might sell and how much money the city could make from a transaction. And we asked him if the potential sales could be used to shore up the pension fund. To find out what he said, listen to this week's It's Our Money podcast.
It's Our Money is a joint project of the Daily News and WHYY, funded by the William Penn Foundation. We work to shed light on where your tax dollars are going.