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

Village of Portage slowly climbing out of financial emergency

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PORTAGE, OH (Toledo News Now) -

The Village of Portage has been struggling for years to stay on the map, but things are finally starting to turn around for the small Wood County community.

City officials say they've been slowly chipping away at their deficit. In a town of 438 people, the tax base isn't growing as fast as it used to, making it difficult to keep the small town alive.

The village 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.

Village employees slashed their salaries by about 50 percent, and imposed a 1 percent income tax throughout the village. Now there is only a $38,000 deficit, and officials say they could be in the black by January.

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

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