The Times Tribune – Scranton City Council is pursuing a plan to borrow up to $18 million from a hedge fund to cover this year’s budget gap, council officials have said.
The financially strapped city has been struggling for months to craft a recovery plan that would be acceptable to lending institutions so they would again provide financing to the city, as well as pass muster of the city’s state-appointed Act 47 recovery coordinator, Pennsylvania Economy League, Mayor Chris Doherty has said.
