Court approves Hbg. receiver's preliminary plan
Commonwealth Court Judge Bonnie Leadbetter at the end of the day on Friday approved the preliminary recovery plan submitted by Harrisburg receiver David Unkovic.
The judge on March 1 held a hearing on Unkovic's plan to address the city's financial crisis, which includes more than $300 million of incinerator debt.
Unkovic has said he plans to amend the plan. He first wants to determine the value of city assets before negotiating debt payments with creditors.
His proposal calls for the sale and lease of the incinerator and parking facilities. In addition to the incinerator and parking, Unkovic also included in his plan a recommendation to look at management and operation of the water and wastewater assets.
His plan calls for the valuation of those assets this spring and to come back in June with a more comprehensive plan that also includes favorable concessions from the city's three unions who have contracts in place through 2014, 2015 and 2016.
He said his goal is to have deals worked out with the unions, asset deals in place and negotiations with creditors ironed out before coming back to the court with an amended recovery plan.
"The goal is to get it done in one swoop. I think it can be done," Unkovic said on March 1. "Once we know the values then it's time to really negotiate."