PROVIDENCE, R.I. – Governor Lincoln Chafee's office says it's extending the term of the state-appointed receiver for Central Falls.
Receiver Mark Pfieffer's six-month contract would have expired Tuesday, instead, Pfieffer has agreed to stay on for at least another 30 days.
Chafee praised Pfieffer's performance in a released statement, saying he has made significant progress in a very difficult situation.
Pfieffer has come under fire from residents after raising taxes as a way to plug holes in the city's finances. He also recommends merging Central Fall with Pawtucket, and has urged lawmakers to craft pension and retirement benefit reforms.
Pfieffer says the city's shortfall could balloon to $25 million by 2016 if the changes aren't made.
Do you have insight or expertise on this topic? Please email us, we'd like to hear from you. email@example.com.