Hartford on Bankruptcy Brink?

Jenna Carlesso By Jenna Carlesso for the Hartford Courant

May 9, 2017

City leaders have taken a step toward bankruptcy, soliciting proposals from law firms that specialize in Chapter 9, which protects financially strapped municipalities.

The city is reviewing several firms and could hire an attorney as early as this week, sources with knowledge of the plans said.

Mayor Luke Bronin has hinted for months that Hartford could file for bankruptcy, and said during his budget release in April that he was “not in a position to rule anything out.” He could not immediately be reached for comment Tuesday.

Hartford faces a $65 million deficit next year and a $14 million shortfall this year. Bronin has proposed cuts and concessions from the unions, but is still seeking $40 million in additional state aid to close next year’s budget gap. The city resorted to short-term borrowing to cover costs such as payroll payments this year.

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