“It would take 68 years to pay off the debt assuming you incur no further debt – that’s not feasible,” said Orr during the evening meeting.
Kevyn Orr made the comment at a public meeting to discuss his plans for staving off bankruptcy and reducing $15 billion in unfunded municipal obligations.
In his 4th State of the City address, Detroit Mayor Dave Bing said Wednesday night that despite the city’s money problems, progress is being made.
The appointment comes after a preliminary review, which concluded last week, found that a “serious financial problem” currently exists in Detroit as a result of several issues.
A Wayne County judge will not be stepping in to stop a pay cut for Detroit police officers.
Detroit mayor Dave Bing spoke on Monday about his vision for the city of Detroit with safer streets and better lighting.
A majority of Detroit City Council members have voted to send a resolution to the mayor strongly urging him to maintain the city’s control over Belle Isle.
The budget eliminates 33 jobs and is the result of a 10 year plan to reduce the work force and to make fundamental changes to the organizational structure of the city.
Police are encouraging citizens to use the Telephone Crime Reporting Unit at home or in the precinct between 4 p.m. and 8 a.m. for non-life threatening crimes.
The possible elimination of judgeships throughout the state’s trial courts will be the focus of a report to be released Wednesday morning from the Michigan Supreme Court.