A familiar face in Chester is digging deeper into the city’s debt problems in hopes of saving it from financial ruin, and a renewed focus on economic development could be on the horizon.
The Chester City Council just created a new chief financial officer position, and Councilman Nafis Nichols has taken on the challenge.
Two decades in the government’s Act 47 program have done little to improve the bottom line of the troubled municipality. Econsult Solutions warned last month that, without drastic changes, Chester’s $16.3 million in debt could quickly multiply to $37 million by 2020, according to a Philadelphia Inquirer report by Caitlin McCabe.
The community will be looking to bolster its economic development efforts, while residents may soon face higher income taxes and city staff could get less overtime pay.
Nichols will get backup assistance from Heffler, Radetich & Saitta, and 25-year-old William Morgan was appointed to fill the council seat left open by Nichols’s move to CFO.
Read more about the changes being made in Chester in the Philadelphia Inquirer here.