3/22/17 – 9:18 A.M.

A 6-mill property tax levy is a step closer to appearing on the ballot in Fostoria this fall. The Review-Times reports Fostoria’s City Council approved a fiscal recovery plan on its third reading during their Tuesday meeting. The plan aims to get the city out of its fiscal emergency designation within five years.

The state-appointed Financial Planning and Supervision Commission has to approve the plan before the levy goes on the November ballot. The group rejected a different plan in January, saying it put too much burden on taxpayers.

Fostoria’s general fund came into this year with a negative balance of more than $696,000. Under the recovery plan, the general fund would see a three-month carryover balance of more than $1.9 million by 2021.

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