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Bankruptcy Update: Recovery Plan in support of the Plan of Adjustment

Today, the Mayor and Common Council will review, listen to public comments, and vote to adopt the City's bankruptcy exit strategy.

Important background for your consideration:
For the past several months, a team comprised of staff and specialized consultants have thoroughly analyzed the City’s costs and structures for delivering municipal services, and evaluated the City’s governance and management organization.  The Recovery Plan’s ultimate goal is to achieve and sustain a City that is cash, budget and service solvent, and that provides residents and businesses improved levels of municipal services and infrastructure.  The Recovery Plan features the implementation of best practices and innovations in the delivery of municipal services, combined with modernization of the City’s governance and management structures; a formula that has proven successful for other California cities and which is essential to the City exiting bankruptcy. 
The Plan must be filed with the Court on or before May 30, 2015.

( Agenda Item: Recovery Plan in support of the Plan of Adjustment (PDF - 172 pages) )