This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

DCED Awards Grant To Altoona To Aid Act 47 Financial Recovery Process

HARRISBURG, Pa., March 21, 2013 /PRNewswire-USNewswire/ -- Department of Community and Economic Development (DCED) Secretary C. Alan Walker announced today the award of a $519,000 Municipalities Financial Recovery Act Grant to Altoona to support the implementation of new technologies that will help the city implement its financial recovery plan.

"This grant will promote fiscal accountability in Altoona through the implementation of new technologies and upgrades," Walker said. "The continued implementation of the fiscal recovery plan and the ongoing guidance and support that Act 47 provides will be a vital asset for the city."

The $519,000 Municipalities Financial Recovery Act Grant funding will address three areas of fiscal concern for Altoona: increasing the efficiency and effectiveness of information technology; upgrading the tax administration software; and executing a detained housing strategy and Downtown Investment Plan Study.

The Municipalities Financial Recovery Act Grant is available to municipalities currently in DCED's Act 47 program and is administered by the Governor's Center for Local Government Services. The grant will help Altoona achieve efficiencies that will reduce costs, improve tax collection, increase revenues, and strengthen the overall operations of the city.

Altoona was declared fiscally distressed in May 2012 and is the 27th Pennsylvania municipality to enter into a recovery program under Act 47 since the law was enacted in 1987. To date, six municipalities have successfully exited Act 47.

Act 47 directs DCED to provide oversight and develop a formal partnership with municipalities that are experiencing financial distress to ensure that taxpayers receive necessary and vital services. Pennsylvania's oversight includes fiscal management, technical assistance, planning and financial aid, with emphasis on long-term fiscal management improvements, service delivery efficiencies, intergovernmental cooperation, and economic/community development initiatives.

For more information on Act 47 or to download a copy of the financial recovery plan, visit www.newPa.com or call 1-866-466-3972.

Media contacts: Edward Jordan, 717-783-1132

SOURCE Pennsylvania Department of Community & Economic Development

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,221.45 +88.75 0.49%
S&P 500 2,112.38 +7.88 0.37%
NASDAQ 4,996.80 +33.2730 0.67%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs