Gov. Rick Snyder: Financial emergency resolved in Detroit suburb of Allen Park after 2 years

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ALLEN PARK, Michigan — Michigan Gov. Rick Snyder the financial emergency has been resolved in the Detroit suburb of Allen Park.

The Republican governor said in a statement Thursday that he accepted the recommendation of the city's emergency manager, Joyce Parker, to move toward ending the financial emergency in place for two years. He appointed a transition advisory board to aid the return to local control.

The city said its deficits have been eliminated, pay has been reduced by 10 percent for active employees and a $2.6 million emergency loan to deal with outstanding pension obligations has been secured. A big step in the turnaround was finalizing the $12 million sale of a failed film studio site.

Parker said the city is on "solid financial footing" after taking "some difficult but very important steps."

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