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State declares Pittsburgh 'distressed'.(Pittsburgh)
Citing the findings of a state-commissioned review of Pittsburgh's finances and the testimony of several city officials, the Pennsylvania Department of Community and Economic Development announced December 29 that it would grant Pittsburgh's petition for distressed status under Act 47, a state law designed to assist municipalities in fiscal distress.
"As we have been saying throughout this process, and as a fifth independent study has now confirmed, the DCED declaration is a decisive determination that this city simply cannot cut its way to solvency," said Pittsburgh Mayor Tom Murphy in a statement. "This has been a difficult year for Pittsburgh, but things will get better. Today's declaration is a first step on our path back to a healthy and vibrant future for our city."
DCED Secretary Dennis Yablonky had 30 days from the date of the decision to appoint a recovery coordinator for Pittsburgh. This individual or firm will then have 90 days to formulate a plan to help the city overcome its structural budget deficit and emerge from distressed status. While Pittsburgh does ...
- Pennsylvania to Hear Pittsburgh's Distressed-Status Arguments Dec. 9.
- Magazine article from: The Bond Buyer D'Ambrosio, Gillian November 14, 2003 700+ words
...public meeting to be held in Pittsburgh gives city leaders the chance...to render his decision on Pittsburgh's filing within 30 days...a municipality seeking distressed status must meet at least one of...Because of its size, however, Pittsburgh would be ineligible for such...
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...municipality -- joining Wilkinsburg in Allegheny County, Shenandoah in Schuylkill County, Ambridge in Beaver County and East Pittsburgh, Allegheny County to have its distressed municipality status rescinded. CONTACT: Christina Reese of Pennsylvania Department...
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- Newspaper article from: Times Leader (Wilkes-Barre, PA) April 27, 2006 700+ words
Byline: Michael P. Buffer Apr. 27--NANTICOKE -- The city is moving closer toward becoming eligible for the state's Act 47 relief program as a financially distressed community. At the end of Wednesday's public hearing on the city's bleak financial picture, a state official recommended the city be
- City of Reading Seeks 'Financially Distressed' Status Under State Act 47 Program
- Newspaper article from: U.S. Newswire September 10, 2009 700+ words
To: URBAN AFFAIRS EDITORS Contact: Jamie Fulginiti of the Pennsylvania Department of Community & Economic Development, +1-717-783-1132 Many Pennsylvania Cities at Risk, DCED Secretary Says HARRISBURG, Pa., Sept. 10 /PRNewswire-USNewswire/ -- The commonwealth today received the City of Reading's
- City of Reading Seeks 'Financially Distressed' Status Under State Act 47...
- Newspaper article from: Politics & Government Week September 24, 2009 700+ words
The commonwealth today received the City of Reading's application for relief under Act 47, Department of Community and Economic Development Secretary George Cornelius said. Act 47 of 1987 directs the commonwealth to provide oversight and develop a formal partnership with cities that are
- Pittsburgh Is Deemed 'Distressed': City to Get Recovery Plan Under Act 47.
- Magazine article from: The Bond Buyer D'Ambrosio, Gillian December 30, 2003 700+ words
...a fiscal recovery plan to help Pittsburgh emerge from distressed status. While Pittsburgh is too large to be eligible for...release, Yablonsky found that Pittsburgh qualified for distressed status under three of the 11 criteria...
- Pittsburgh Mayor: City 'Distressed': Murphy Seeking Guidance From State.
- Magazine article from: The Bond Buyer D'Ambrosio, Gillian November 11, 2003 700+ words
...balance sheet, Pittsburgh Mayor Tom...financially distressed" status for Pennsylvania...filing for distressed status with the...days after Pittsburgh councilmen...financially distressed status would help Pittsburgh to manage...
- PFM: Pittsburgh A Distressed City.
- Magazine article from: The Bond Buyer D'Ambrosio, Gillian December 11, 2003 700+ words
...decision on Pittsburgh's request for financially distressed status, which Mayor...to evaluate Pittsburgh's financial...ability to seek distressed status. A House resolution...fund to ease Pittsburgh's cash crisis...