Brookline, December 20, 2017 – Sen. Wayne D. Fontana is supporting Mayor Bill Peduto’s call for Pittsburgh to free itself from state financial recovery oversight (Act 47). The city has been under Act 47 oversight since 2004. The law is aimed at helping distressed municipalities achieve financial stability. Fontana provided the following comments after today’s local hearing where city officials and oversight experts detailed their reasons for emerging from Act 47 oversight.
“The mayor, his administration and city council have worked tirelessly to put Pittsburgh on stable financial ground. I am confident that the city’s economic success and sound administrative guidance will continue.
Both city officials and state oversight experts are embracing Pittsburgh’s departure from state financial oversight. To that end, the city has implemented numerous sound administrative practices, safeguards and best practices. I commend our city officials for their hard work, diligence and determination to overcome the financial challenges that triggered the distressed city designation.
“Pittsburgh’s future has never been brighter. Our diversified economy is churning, our economic growth has surpassed expectations, our jobs numbers are promising, and we are seeing astounding growth and reinvestment throughout the city.
“The Act 47 process has run its course. I’m proud of how our city leaders responded and will continue to work with them on ways to spur even greater economic growth. I join their call to depart from Act 47 oversight.”
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