Harrisburg Ex-Mayor Left Pennsylvania City Near Bankrupt
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Stephen Reed, Harrisburg’s mayor for 28 years, pushed Pennsylvania’s capital into insolvency as the more than $500 million in bond deals he oversaw to finance community development drained city coffers.
An incinerator overhaul, with related debt now topping $300 million, capped the Democrat’s mayoral career. While not the largest, it was the riskiest of his credit-fueled projects, which may lead the city of 49,500 to enter bankruptcy as early as July, after a law barring that step expires.