State & Local Government Policy, Business and Technology

This Small New England City Was on the Verge of Bankruptcy. Now It’s a Turnaround Success Story.

Governing: Successful cities nearly all have something in common: leadership that can figure out where the community needs to go and can execute a plan to take it there. Fifteen years ago, it seemed inconceivable that Springfield, Mass., could be described in such terms. But after almost collapsing into bankruptcy, Massachusetts’ third-largest city is in the best shape it’s seen for more than a generation.

Heading into the 21st century, financial mismanagement wasn’t just a problem in Springfield, but a perennial habit. The city kept its property tax records on filing cards and budgeted as if it could collect 100 percent of the revenues that were owed, even though it continually fell millions of dollars short.

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