- Posted August 22, 2011
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Pontiac manager makes financial plan public
PONTIAC (AP) -- A state-appointed financial manager wants to cut more than $15 million from Pontiac's budget and increase taxes to help wipe out the city's deficit.
They are among the remedies Michael Stampfler was to present publicly last Thursday.
The Oakland Press in Pontiac reports that Stampfler wants to place $6.1 million on the tax rolls which would mean someone owning a $100,000 home would have to pay $400 more in taxes.
Stampfler's updated financial and operating plan also calls for public safety layoffs. Parking enforcement would be outsourced and the city's golf course sold.
Pontiac's budget deficit is expected to reach $12.5 million by June 2012.
There have been no discussions on selling Pontiac's waterworks. Stampfler says it could be worth up to $60 million.
Published: Mon, Aug 22, 2011
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