Philly Council weighs options for spending "windfall"

Bill Green thinks the city should invest a windfall from a new pension bond in infrastructure. Curtis Jones Jr. wants a new light-rail line to shuttle people from Center City to the Philadelphia Zoo. Maria Quiñones Sánchez is foursquare behind a property tax based on full market valuation.

Those stands were just a few aired yesterday by City Council’s new members when they spoke at a roundtable event sponsored by Lambda Alpha International, a 78-year-old organization of “individuals who have made notable contributions to the study and ethical practice of land use,” according to the group’s Web site.

In explaining her position on property-tax valuation, Sanchez said: “There is no feeling in Council about addressing that issue. If we wait two years, it will be an election cycle, and no one wants to touch it.”
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Sooo...

You have a fiscal problem (pensions that you haven’t paid in what you were required to over a few decades) – you propose a bond issuance to take care of this pressing problem – but then use the money for other things?

Then you say you need to reduce pensions – ‘cause there’s no money. Sweet. Where’s the red queen? Step right up!

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