NILES, Ohio (WKBN) – The City of Niles will have a five-year balanced budget ready for review before its deadline.
The commission overseeing the city’s fiscal emergency said Niles had to have a viable recovery plan by July 25.
By a vote of 5 to 2 Monday afternoon, Niles City Council approved the most recent financial recovery plan presented by Mayor Tom Scarnecchia.
It will mean the outsourcing of the city’s income tax collections, a $10 increase in license plate fees, and the borrowing of $1.6 million for city buildings that need repairs.
The plan now goes to the state commission, which will meet July 27 to either approve or deny the plan.
Editor’s note: This story has been corrected to show the $1.6 million will be used for building, not street repairs.