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This paper examines how credit rating levels affect municipal debt issuers’ disclosure decisions. Using exogenous upgrades in credit rating levels caused by the recalibration of Moody's municipal ratings scale in 2010, we find that upgraded municipalities significantly reduce their disclosure of required continuing financial information, relative to unaffected municipalities. Consistent with a reduction in debtholders’ demand for information driving these results, the reduction in disclosure is greater when municipal bonds are held by investors who relied more on disclosure ex ante. However, we also find that the reduction in disclosure does not manifest when issuers are monitored by underwriters with greater issuer-specific expertise and when issuers are subject to direct regulatory enforcement through the receipt of federal funding. Overall, our results suggest that higher credit rating levels lower investor demand for disclosure in the municipal market, and highlight the role of underwriters and direct regulatory enforcement in maintaining disclosure levels when investor demand is low.

In September 2018, Greg Pizzuto, Director of Tourism for Harford County, Maryland gave a presentation of the county’s tourism information as shown on their website: https://visitharford.com. The county is exploring tourism-related initiatives but also seeking additional help in innovative ideas and methods to present areas of interest to the public. Through the Partnership for Action Learning in Sustainability (PALS) program, Harford County hopes to obtain additional ideas for enhancing their website and attracting visitors. The County has a variety of venues and information, but the challenge is determining the best method of presenting it to visitors. After Pizzuto’s presentation, the topics of interest were divided and the team pursued Art, Culture, and Festivals.

This project focused on creating an interactive and searchable map of the most popular trails in Harford County for the use on the Visit Harford website. This report provides background on previously available searchable and interactive trail mapping, describes in detail what the project’s goals, discusses the data collection process, including where the data was collected from and qualitative data sought out. A significant amount of data about Harford County Trails is available online, but it is not consolidated in one place. If a visitor to Harford County wants to find a trail for hiking or biking, there are numerous incomplete data sources and maps provided by jurisdictions and independent organizations. The purpose of this project is to consolidate information on Harford County’s most popular trails so that visitors and residents have easier access to the beauty of Harford County through its comprehensive network of state parks, county parks, and trails. This report also describes how data was gathered and manipulated to suit this project. It also discusses the methodology, analysis, and visualization of the data. The primary purpose of this report is to explain how the team used the data collected for mapping purposes, as well as the project’s results. It includes a tutorial of how to use the final product with an analysis of how it might be used on the Visit Harford site. This new interactive tool can benefit Harford County residents and tourists alike. Ultimately, the interactive map will be incorporated into an app that visitors to Harford County will be able to use to find not just trails, but other attractions, such as dining, lodging, and entertainment. Visit Harford is the destination marketing organization of Harford County, Maryland with the goal of driving more tourism activity in Harford County. Their website includes many attractions for both residents and tourists. Through the PALS program, our class was tasked with providing the County with improv

The Department of Public Works in Harford County has requested road segments at risk of erosion be identified for preventive maintenance application. The final deliverable for this project will be a map, data, and report categorizing the risk levels along with a list of the most at- risk road segments. A Hot Spot Analysis identifying areas with the greatest concentration of at-risk road segments will also be included. The project had several phases. First, county road sections that were not bridges and that were close to streams (<25 feet) were selected and isolated. Second, the team calculated and characterized the soil type, drainage area, and distance from the stream as erosion risk indicators. Third, the team created an index that weights soil type, drainage area, and distance to identify the highest risk road segments. The team then separated the identified road segments into high, medium, and low risk categories and produced a list of the 347 road segments most at-risk. After a hot-spot analysis to find areas of the county that contain clusters of high-risk road segments, the team finished by reporting to the county the roads in need of checks or repair.

Climate change has induced more extreme weather in recent years and Harford County and the surrounding region has experienced more frequent and intense storms. Flooding in Harford County, caused by the increase in storms, generated many instances of roads washing out, which have caused severe damage and created unsafe driving conditions. The issue has necessitated considerable use of public resources. Unfortunately, county budgets are limited, and staff resources are thin. Mitigation is the most cost-effective tool to reduce damage and associated costs; therefore, the county requires a tool that can more effectively identify vulnerable roadway segments. By working with the PALS program at University of Maryland, College Park, the county has identified an opportunity to work proactively and better meet the road safety obligations of the Public Works Department and the Division of Highways. As part of the PALS program, the team used data processing tools and GIS mapping technology to help the county preserve their roadways. Through ongoing conversations, the county worked with the team to create a tool that meet their needs by identifying roads at risk. Vulnerable segments have been identified and prioritized so county staff can plan road reinforcement projects in a more cost-effective manner. Along with a map of identified at-risk road segments, the team has created an interactive web app that allows an in-depth of analysis of at-risk roads, a geodatabase with watershed and soil analysis, and a presentation that reviews key findings. This report reviews the background research, the GIS methods used, the results and their implications for the county, and suggestions for moving forward. The goal, as GIS technicians and community planners, is to serve the interests of the county by providing tools to better predict instances of road failure.

As part of the Fall 2018 URSP 688L Planning Technology class, students from the graduate Community Planning program at the University of Maryland worked with the Partnership for Action Learning in Sustainability (PALS) program to use applied computer mapping tools to address a streambank erosion project in Harford County, Maryland. Working with ArcGIS, our team identified vulnerable roadways in Harford County at risk from streambank erosion. Using the software’s tools, our team identified a total of 438 vulnerable roadways, which were then ranked by their total potential risk. Our team presented this information and ranking system so Harford County could address these roadways. It is our hope that this information proves useful to the County to address issues before they occur. We provided the County with a geodatabase that contains final spatial information, additional shapefiles that outline our technical process, and a metadata file. We also created an online presentation, which is accessible through ArcGIS Online at: https://arcg.is/1zKviX.