Monday, January 21, 2008

Future Finances Will Affect Act 47 Decision

The person who will decide whether Pittsburgh should remain under Act 47 protection says the city's future financial picture will factor into his decision. Dennis Yablonsky is the Secretary of the Pennsylvania Department of Community and Economic Development. The Pittsburgh City Council has asked him to weigh in on whether the city should remain under state oversight. Yablonsky plans to hold a hearing in Pittsburgh in late February after he has a chance to review Pittsburgh's latest financial numbers. But he says strong finances in the short-term won't matter if the city looks like it will fall into trouble again in just a few years. The city's current five-year plan shows deficits in the final two years. Yablonsky says he will likely decide on Pittsburgh's Act 47 status by June.

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