November 17, 2021
Scam/Fraud

Bridging the Municipal Funding Gap: City finances are like a Ponzi scheme, expert says

The Ponzi scheme structure is unintentional and not nefarious on the part of municipal governments, planners and leaders, who are not committing any kind of criminal conspiracy, said Daniel Herriges, a senior editor for Strong Towns, a non-profit group that advocates for more sustainable development.

The Gazette will continue to dig into municipal funding challenges facing communities across North America in a series called Bridging the Municipal Funding Gap. This story is part of the series to help provide context to the struggle happening in St. Albert. The sixth story in the series will be released next week

Municipal planning experts often consider the way cities and communities are built and financed as Ponzi schemes.

The property taxes and municipal revenues recouped from a house, street, or cul-de-sac are not enough to fund the maintenance, repair, and replacement needs for the roads and service delivery…

Read full article here: www.stalberttoday.ca