Governor’s Office Says Ecorse Financial Emergency Resolved
Governor Snyder announced today that the financial emergency in the city of Ecorse has been resolved, and appointed a Transition Advisory Board (TAB) to help ensure a smooth transition and guide the city to continued financial stability.
In a statement, Snyder said “Emergency Managers like Joyce Parker have made tremendous progress in resolving financial emergencies in local communities.” Snyder went on to thank Parker for her work.
On Monday, Parker had notified the governor that it is her determination the city’s financial emergency has been sufficiently addressed. She cited several factors and accomplishments including:
- elimination of a $14.6 million cumulative deficit and $5 million structural deficit
- reorganization of police and fire departments into one public safety department
- reduction of operating costs by $4.3 million annually
- increase of annual revenues by $2.3 million
In addition, the governor’s office said Parker worked with the state legislature to develop legislation that enabled the city to re-enter the bond market, borrow money to pay off outstanding judgement levies and increase the city’s bond rating from “junk” to “A.”
Parker will continue to be involved in Ecorse as a member of the TAB appointed by Governor Snyder. Snyder said “the goal of a TAB is to work cooperatively with local officials and help ensure a responsible financial course is maintained moving forward.”