Central Falls, Rhode Island went bankrupt in 2011 after promising overly generous pensions to city employees. The city pulled itself out of bankruptcy last year and must now stick to a penny-pinching plan with no room for error or for luxuries like trash cans and public art. As a result, the impoverished city is getting creative: it's now raising $10,044 on the civic crowdfunding platform Citizinvestor in order to clean up its main public park. It's raised $245 so far.
Citizinvestor launched in September of 2012 to allow citizens to make tax-deductible donations to their cities and propose their own ideas. The site charges a 5 percent fee in addition to a 3 percent payment processing fee. Like Kickstarter, backers will not be charged...
via The Verge - All Posts http://www.theverge.com/2013/9/24/4765580/bankrupt-city-central-falls-turns-to-crowdfunding-on-citizinvestor
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