The city of Altoona officially came out of Act 47 on Wednesday, bringing an end to its distressed city status. Altoona's successful exit is a big win for its local government and their collaboration with the state.
Pennsylvania Department of Community and Economic Development Secretary Dennis Davin officially announced the rescission in Altoona's downtown Devorris Center.
“On behalf of Governor Tom Wolf and the Commonwealth of Pennsylvania, I’m officially signing the order which allows the city of Altoona to exit Act 47 today,” Davin said.
Altoona Mayor Matt Pacifico said the decision to enter the program five years ago was difficult; many people had doubts. But the city has worked hard.
“The city fulfills its promise to the residents of the community by standing on firm financial footing,” Pacifico said. As Davin shook his hand and congratulated him and the city, Pacifico was emotional, with tears in his eyes.
With the exit, Altoona became the biggest municipality in the state to come out of Act 47 and the first to exit in the prescribed five-year timeline since the limit was imposed in 2014.
Secretary Davin said Altoona proves that obtaining fiscal stability in a short period of time is fully attainable.
Statewide, 17 municipalities remain in Act 47.