Lincoln Park's and Pontiac's release from receivership signals greater fiscal stability, brighter future for residents

RTAB graphic

Tuesday, Aug. 1, 2017

LANSING, Mich. – Today’s announcement of the termination of the Receivership Transition Advisory Boards for the cities of Lincoln Park and Pontiac marks a new day as these communities regain local control of operations and finances, and continue on a path toward long-term financial stability, said Gov. Rick Snyder.

RTABs were appointed for both cities to oversee their transitions from emergency management back to local control, as they worked to recover from financial emergencies.

“Under the guidance of the RTABs, both Lincoln Park and Pontiac have made significant progress to right their finances and build solid, fiscal foundations for their communities,” Snyder said. “This is a great achievement for the cities and demonstrates that through collaboration and focusing on economic development, this system can work to ensure a more stable, prosperous future and better quality of life for all Michiganders.”

Both cities have seen a remarkable economic turnaround.

  • From 2009-2016, Pontiac increased its general fund by more than $8.5 million while reducing long-term debt by nearly $38 million.
  • From 2010-June 2017, Pontiac’s unemployment rate fell from 24.8 percent to 7 percent.
  • From 2014 and 2016, Lincoln Park increased its general fund by more than $2.7 million and eliminated more than $880,000 in long-term debt.
  • From 2014-June 2017, Lincoln Park’s unemployment rate dropped from 7.4 percent to 3.4 percent.

Effective immediately, city leadership has full local control and will manage all internal operations and finances without state oversight.