Scranton Financial Turnaround: 1,000 New Housing Units

Scranton Mayor Paige G. Cognetti told city leaders, educators, and business partners Wednesday that the city has transformed from near-insolvency to financial stability, adding more than 1,000 housing units and strengthening public safety.

Cognetti delivered her State of the City address at the University of Scranton, contrasting conditions when she took office in 2019 against today. The city faced possible insolvency and nearly $200 million in litigation liability then. "Government should work as hard as the people it serves," Cognetti said.

Scranton dropped its financially distressed status in 2022 and received three credit rating upgrades to A- with a stable outlook. The city's financial advisory firm PFM called the recovery "remarkable" earlier this year.

Housing development accelerated under Cognetti's tenure. Developers built 1,067 units, with 51 more coming online soon. The city strengthened rental registration policies and legal enforcement against irresponsible landlords.

The Scranton Police Department received more than $5 million in training, recruitment, and technology investments. The department partnered with Lackawanna College Police Academy and runs a lateral officer transfer program. The Fire Department received new equipment and modern station alerting systems, with new apparatus planned for coming years.

Infrastructure work totaling $23 million since 2019, mostly funded by American Rescue Plan Act dollars, targets stormwater and flood prevention in Keyser Valley, North Scranton, Tripp Park, Minooka, and East Mountain following September 2023 flash flooding.

Downtown improvements worth $15.3 million include new sidewalks, curbs, accessible ramps, period lighting, and underground utility cables. Some one-way roads will convert to two-way streets, and traffic signals will become stop signs to slow traffic and improve pedestrian safety.

Cedar Avenue projects worth $2.2 million continue on the 300-700 blocks and near the 1100 block of North Main Avenue. The Cedar Avenue work, which began in September, entered its second phase with sidewalks, curbs, and trees.