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Lincoln Park financial emergency declared

Rick Snyder, the Republican governor of Michigan, speaks during an interview in New York, November 8, 2013. REUTERS/Shannon Stapleton
Rick Snyder, the Republican governor of Michigan, speaks during an interview in New York, November 8, 2013. REUTERS/Shannon Stapleton

LINCOLN PARK (WKZO) -- A financial emergency has been declared for the city of Lincoln Park.

Tuesday, Governor Rick Snyder confirmed an earlier decision that a financial emergency does exist in the city. Officials with the city now have seven days to choose one of four options to address the situation.

The city will have until 5 p.m. on April 29th to pass a resolution on a consent agreement, emergency manager, mediation with creditors or Chapter 9 bankruptcy. City Council President Thomas Murphy says he expects the council to choose the consent agreement.

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