Lincoln Park Released From Receivership, 'Can Succeed Unaided'

Bruno Cirelli
Agosto 2, 2017

The board had recommended termination of receivership.

Pontiac and Lincoln Park - two MI cities that spent a significant amount of time controlled by the state under emergency financial management - are both now free from receivership, Gov. Rick Snyder's office announced Tuesday. Effective immediately, city leadership will regain full local control and manage all internal operations and finances - including the approval and implementation of city council resolutions and ordinances - without state oversight.

"Under the guidance of the (Receivership Transition Advisory Boards), both Lincoln Park and Pontiac have made significant progress to right their finances and build solid, fiscal foundations for their communities", Snyder said.

"Today marks an important achievement for Lincoln Park residents, the city and all who have contributed to moving the city back to a path of fiscal stability", Khouri said in a statement. Now the state says it has a general fund balance of $14 million.

MI has put several cities, local governments, and school districts under various forms of oversight, including an emergency manager for Detroit.

The Detroit suburb declared a financial emergency in 2014 due to problems funding pensions and health care costs.

An emergency manager was present from July 2014 to December 2015, when the emergency manager's term concluded and the RTAB was appointed.

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