Ohio Attorney General Dave Yost has lined up two candidates to take over East Cleveland’s finances as the suburb’s court-appointed receiver.
The state is moving to make East Cleveland the first Ohio city taken into receivership under a new law. The city has spent 30 of the last 37 years in and out of fiscal emergency.
“Despite oversight mechanisms and periodic interventions, the city has failed to achieve the structural reforms necessary to restore fiscal stability,” attorneys for the law firm Ice Miller, which is handling the case for Yost, wrote in a legal filing with the Ohio Court of Claims…