Word: maldens
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Everyone agrees that the most serious problem facing Malden is financial. A 1982 study by a team of University of Massachusetts, Amherst economists showed the city was teetering on the brink of financial failure because of declining Federal aid a shrinking tax base, a high demand for services and poor management...
...Without some form of intervention in the near future. Malden faces a severe financial future," concluded the report. The coordinator of that study, Catherine T. Flynn, said of the 20 cities and towns her group has analyzed, "Malden was by far the worst...
...Malden residents voted for the referendum two to one. But the negotiated agreement states: "With full understanding of the implications, Malden residents should consider voting to override Proposition 2 1/2 for one year as a means of capturing the increased revenues made available by increase in property values...
Still only a small fraction of the proposals will actually cost anything, and according to Tarallo, fundraising for some, such as a clean-up fund for the city are already underway. Malden's annual budget is approximately $40 million, but the city is already beginning to reorganize its finances and is beefing up its lobbying efforts on Beacon Hill to secure more state and, he adds...
Those asked to implement the recommendations by and large seem willing, but some question their usefulness. For instance, Superintendent of Malden Schools Paul Phaneus says he is amenable to most of the suggestions, but says. "I wasn't too impressed by [the project]. I don't think anyone is taking this too seriously...