The city of Altoona announced they no longer need Act 47.

In 2012 the city was deemed financially distressed and was put under the act to help recover.

City leaders had the final meeting of the exit process on Wednesday, August 9. All testimony read that Altoona now has a steady stream of money and is able to reach long-term financial stability.

“This is something that everyone has been working hard towards for the last 4 years,” Altoona Mayor Matt Pacifico said. “This is a really big moment for the city and a really big accomplishment for us.”

We’re told city leaders have worked hard to find ways to save money and is dedicated to guiding the area in a positive way.

“The last thing that we would want to do is get reckless and end up back in Act 47 again,” Mayor Pacifico said.

The exit process still has to get final approval. Mayor Pacifico said the city’s goal was to be out by December 31, but it could be sooner.

This makes Altoona the fastest city in the commonwealth to successfully leave Act 47.

Most places under the act have a hard time getting out. For example, Johnstown has been considered a distressed city since 1992.