During Chelsea Mayor Jason Lindauer’s recent State of the City address he told residents at Chelsea Retirement Center that the city is “stronger than ever” financially.

Lindauer said the city was given its highest bond rating to date, an “AA-,” which is up three levels from previous ratings, and Chelsea’s fund balance is at about 20 percent, “far better than in previous years.”

In addition, Chelsea’s audit was assigned an “unqualified” rating from Plante Moran, the highest possible rating.

“With the collaborative approach of the DDA, the Chelsea Area Chamber of Commerce and the Chelsea First Initiative, our city has welcomed 12 new businesses to town in just the past nine months,” he said.

“As one listens to these business owners, it becomes clear that part of the reason they chose to bring their talents here, to act on the next great idea, is that Chelsea provides the sophistication and infrastructure usually found in larger cities, with the collaboration of a smaller town and the charm of a Norman Rockwell backdrop.”

Calling Chelsea a “growth-ready city,” he said three years ago Chelsea had a lack of water and sewer treatment capacity as well as an undersized “major transformer for electricity.” Today, those issues have not only been dealt with “head-on” but also they have been resolved.

He said there are plans for “below ground” capital improvements such as storm water management repairs and upgrades on North Street and highlighted recent repairs in the Jackson Street Area.

The complete speech can be heard here.

Lisa Allmendinger is a regional reporter for AnnArbor.com. She can be reached at lisaallmendinger@annarbor.com. For more Chelsea stories, visit our Chelsea page.