Listen Live on  
 

B101

Southern New England's 70's and 80'S Hits - Providence
 
 

State-Appointed Receiver Departing Central Falls

 
State-Appointed Receiver Departing Central Falls

      PROVIDENCE, R.I. (AP) _ The state-appointed receiver who has run the troubled city of Central Falls for years is set to depart and hand control to local officials.
 
       A spokeswoman for Gov. Lincoln Chafee said the receivership is set to end Monday.
 
       The receiver stepped in in 2010 to address Central Falls' shaky finances. Rhode Island's smallest city went through a municipal bankruptcy that officially ended last fall when a federal judge signed off on the receiver's five-year recovery plan.
 
       A newly hired finance officer will oversee the city's budget and make sure it sticks to the plan.
 
       City Council President William Benson Jr. says he's glad the receivership is ending but criticized its price tag of an estimated $4 million. The city will have to reimburse the state for the receivership's cost.

Recommended Stories

More from B101

*