Village of Portage slowly climbing out of financial emergency - News, Weather, Sports, Toledo, OH

Village of Portage slowly climbing out of financial emergency

PORTAGE, OH (Toledo News Now) -

TheVillage of Portage has been struggling for years to stay on the map, but thingsare finally starting to turn around for the small Wood County community.

Cityofficials say they've been slowly chipping away at their deficit. In a town of438 people, the tax base isn't growing as fast as it used to, making itdifficult to keep the small town alive.

Thevillage has been in a state of financial emergency since 2008, when they were$216,000 in debt. Now, things are finally starting to turn around.

Villageemployees slashed their salaries by about 50 percent, and imposed a 1 percentincome tax throughout the village. Now there is only a $38,000 deficit, and officialssay they could be in the black by January.

"Therewas a lot of talk that we weren't going to make it, a lot of side bets that weweren't going to make it," said Mayor Mark Wolford. "So we're coming back, we'reshowing them it can be done, you just have to tighten your belts, stay at it,and not give up."

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