It doesn't look quite right. As simple suggestions, I would increase the leading so the lines aren't on top of each other so much and increase the point size of the second line so the tracking wouldn't be so extreme, or just leave the tracking for both lines the same and just center them.
Amazon search for "typography" < Generic, but there are many excellent books here. I have "Desiging with Type" (the light blue book, 8th down), but I'm sure others on here can check out the link and give their suggestions.
See if you can find old copies of U&lc (Upper and lower Case) magazine. STUDY the TYPOGRAPHY around you, not just the typesetting. On the billboards, busses, etc. I live in Phx. Not all of it is good, but you'll start to recognize what you can read and what you can't. There are LOTS of poorly lettered small business trucks running around the Valley. There are a lot of good ones too, but some are readable and some aren't.
Study the other phone books in the office, and other directories such as for churches. Study signs with addresses or calendars to see different ways of using letters and numerals.
Kerning should be done before extending the letterspacing for an effect. Study readability of fonts. How do your eyes and brain work when you read? Once aware of what is READABLE, then you can make it look good within those parameters.
The justification of your second line is unwarranted as text- it should not be stretched out. As a graphic element, it competes too much with the first line. Make both line the SAME, or make the two lines REALLY different. Are you using Arial or Helvetica. Try light and ex-bold. I believe you are using Arial in which case I'd suggesting looking at in Helvetica, specifically Helvetica Nueu Regular (NOT medium) or light and Black. The differences are sublte, but noticeable.
P.S. I've been in graphics and signs for over 30 years, and have been 'known' for my typographic solutions in some circles.
Two of the best books that I've read are Thinking with Type by Ellen Lupton and Thinking in Type by Alex W. White (the titles are fairly similiar). Both of these books do a fantastic job at showing the do's and don'ts of typography.
I might simply use a heavier font on the lower line if the typeface/family permits. This would end the kerning issue (I'd leave it normal/not spaced as above) and that way upon quick look the viewer will see it as the Phone Directory and know right off teh bat what it is then can see that it is the Gila River..... version.
A very good read. Although when I had the subscription, it seemed like some earlier free articles were then turned into the subscription version later on. i may decide to get another year soon.
Very practicle and easily able to match it with work you may have instead of this works well for a cerain landscaper only type of treatment that some mags use.