Pontiac has list of assets to sell off
City of Pontiac hopes selling assets will help get much-needed income
The city of Pontiac is selling off assets such as the old David Ewalt Community Center to raise money and, more importantly, to get the city back on the tax rolls generating income for the city.
There are currently seven properties up for auction by sealed bid. The properties range from the old community center to landfills and parking lots.
Pontiac has come a long way since Michigan Gov. Jennifer Granholm and Gov. Rick Snyder appointed emergency financial managers to clean house. Oakland County Executive L. Brooks Patterson is encouraged by the current state of affairs and emergency manager Lou Schimmel. The city already has seen its bond status elevated and outlook improved.
Read more: Pontiac gets financial upgrade, stable outlook for future
There is a lot more to do in Pontiac but already new residential projects to attract young professionals are cropping up.