Thursday, Jan. 5, 2012 | 4:32 p.m.
North Las Vegas is the ninth worst-run city in the country, according to financial news and opinion website 247Wallst.com.
The website posted its first list of the top 10 best - and worst - run cities in America on Thursday based on U.S. census data measuring unemployment, Moody’s credit ratings and FBI crime statistics.
North Las Vegas came in at No. 9 in the country for the worst-run cities with a poverty rate of 18 percent and a population of 217,304 with less than 77 percent of adults who graduated from high school. With the 28th highest violent crime rate and a credit rating of A2 with a negative outlook, the city placed in between No. 8 Fresno, Calif., and No. 10 Hialeah, Fla.
The report found that in 2010, 1 in every 5 homes in North Las Vegas was foreclosed upon and attributes its Moody’s A2 credit rating to "continued economic weakness and persistent financial challenges." Also noted were the 800 positions the city froze in order to reduce spending and its reliance on financial reserves.
City spokeswoman Juliet Casey said she agrees with the information in the report but said it represents the past.
"I don’t think it reflects the most current situation right now,” Casey said. “Yes, we struggled financially and were at the center of the foreclosure crisis, but we have maintained growth in population numbers. We’re still growing, still vibrant and have made greater strides in diversifying economic development.”
Miami, Fla., came in as the No. 1 worst-run city, mainly for its income inequality rate, (the second-highest in the nation). Detroit, Mich., and Newark, N.J., come in at No. 2 and No. 3.
Virginia Beach, Va., came in as the best-run city in the U.S. for its perfect AAA credit rating and some of the lowest violent crime, unemployment and poverty rates. Irvine, Calif., and Madison, Wis., come in as the No. 2 and No. 3 best-run cities in the country.
The website said the company reviewed resources from census data, crime statistics and credit ratings to compile the final metrics and ranked each city based on its performance in all categories. Cities that did not have crime or credit information were not rewarded or penalized for the missing data.