The paperwork is in process and the nation’s largest municipal bankruptcy will end at midnight, the governor said.
Detroit’s emergency manager says the city no longer will be in a financial emergency when it officially exits bankruptcy.
The commission chair says their power should be restored – noting the alleged police brutality in places like Ferguson, Missouri.
Kevyn Orr says he hopes to resign from his post as Detroit EM within the next week or two.
‘Michigan Matters’ Focus: Chamber Leaders Sound Off On Lame Duck Lansing Legislature, Motor City, Gov. Snyder
Rich Studley, CEO of the Michigan Chamber of Commerce, is convinced Michigan’s roads will finally get the attention and resources needed to repair them after some tough winters that have wreaked havoc for motorists.
Detroit’s main pension fund plans to hold public meetings in early December to discuss upcoming cuts and an opportunity for retirees to apply for financial help.
Mayor Mike Duggan expressed concern about fees associated with the bankruptcy that could hit $200 million.
The Detroit Financial Review Commission was created as a condition for Michigan committing $195 million toward ending the city’s bankruptcy.
Detroit’s long-term fiscal recovery plan was approved Friday by a bankruptcy judge and calls for $1.7 billion to remove blight and fix city services over the next 10 years.
How did Detroit get to the point where it became the largest U.S. city to file for bankruptcy and what will keep the city from further fiscal irresponsibility?