Saturday, January 10, 2009

Dunmore Bankrupt?

The Borough of Dunmore is considering going bankrupt. According to the Scranton Times, Dunmore’s sadistic 36% tax increase simply will not be enough to cover the financial mismanagement of the Borough.

While not entirely ruling out Act 47 (Distressed Municipality) protection, Democrat Melanie Naro seems to be favoring the idea of bankruptcy. It is her opinion that Dunmore might find a more favorable position in bankruptcy instead of Distressed City Status.

Sine inception of Act 47 in 1987, no municipality has filed for bankruptcy. Neighboring municipality Scranton, has been operating under Act 47 protection. Democrat Mayor Chris Doherty has not been able to escape Act 47 during his tenure.

Regardless of the decision council makes, the situation looks bleak in Dunmore.

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