SCRANTON IS NOW STABLE STRONG & MOVING FORWARD
Mayor Bill Courtright has worked tirelessly to firm Scranton’s financial foundation. Hard choices and debt reducing strategies set in place by the Courtright Administration have restored fiscal solvency to a city that desperately needed it.
Most importantly in shoring up Scranton’s financial situation, the safety of our residents has not been compromised. Our police force remains strong and vigilant and our residents are much safer than those living in nearby cities. Some substantial and noteworthy accomplishments include:
- Rescued the city from impending bankruptcy. With only 90 days standing between the City and financial insolvency as predicted by internationally regarded Moody’s, Mayor Courtright secured the expertise and solutions to exiting from Act 47…the distressed city label that has loomed over Scranton for almost 30 years.
- Provided residents with the biggest street paving program in the city’s history
- Completely overhauled the city’s street lighting system…modernizing lighting and enhancing citizen’s safety while, at the same time, saving $400,000 per year in electricity costs.
- The sale of the Sewer Authority to PA American Water has helped lead the city to financial solvency and toward Federal compliance. The sale netted Scranton $83 million dollars AND saved the city another $140 million by taking tax payers off the hook by not having to pay for EPA mandated upgrades (instead of massive rate hikes to keep up with federal mandates the average Scranton resident will only see an increase of about $5.00 per month to meet federal standards).
- Carved away at the city’s debt by refinancing the city’s interest rate, removing the Scranton Parking Authority’s bond default albatross from the back of city taxpayers and restored the city’s bond rating and in the process earned a Moody’s “Credit Positive Rating”.
- Settled and paid an arbitration award of nearly $30 Million WITHOUT raising property taxes in 2017.
- Stabilized city pension funds and worked to have unionized employees double their contributions.
- Scranton has experienced substantial Economic and Capital private investment.
- Downtown Scranton is in the midst of a full-blown renaissance. Innovative changes to the Marketplace at Steamtown as well as an influx of business, retail and restaurants have created an urban life that is appealing to people looking for recreation as well as city-scape living spaces.