Countywide : County Plans Forum on Fiscal Recovery
County officials are inviting the public to share ideas for digging out of bankruptcy during a forum next week at Chapman University.
Officials said the Financial Recovery Forum is designed to begin a broad-based dialogue among residents throughout the county about developing solutions to the crisis. Creating a recovery plan, they say, is all the more crucial since voters soundly defeated Measure R, which would have increased the county sales tax by one-half a percentage point, from 7.75% to 8.25%.
Measure R was the cornerstone of County Chief Executive Officer William J. Popejoy’s bankruptcy recovery plan. Popejoy announced his resignation this week.
The county filed for bankruptcy Dec. 6 after its investment pool lost $1.7 billion. The losses were attributed in large part to the risky investment practices of former Treasurer-Tax Collector Robert L. Citron.
County officials said the purpose of the forum isn’t to rehash the Measure R election but to find viable and practical solutions.
The forum will begin at 1:30 p.m. Wednesday at Chapman University’s Argyros Forum, Room 209. Reservations: (714) 834-2341.
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