| March 29
March 29 Detroit Mayor Dave Bing said Thursday
that a new agreement with the state of Michigan will lead to the
creation of a financial advisory board and the appointment of a
new "project manager" in exchange for elected officials to
continue running the city.
The advisory board and project manager are to report to
Bing, potentially solving one of the hot buttons in the state's
ongoing attempt to help the city dig out of a deep financial
hole. Michigan Governor Rick Snyder has in the past suggested
appointing an emergency financial manager or a panel of advisers
who would have final say in city operations.
In a statement issued about an hour before Deputy Mayor Kirk
Lewis was scheduled to outline details of a new draft financial
plan for the city council, Bing softened the rhetoric by saying
the city has crafted a "partnership" with state officials. He
called the new plan a "landmark agreement."
The plan outlines specific support the state will lend
Detroit. The lighting department, transportation department and
income tax collection are three areas Bing highlighted in the
Specific details were expected to be released during the
city council meeting slated for late afternoon.
Bing and Snyder have been discussing a rescue plan for
Detroit since late last year, when it became apparent the city
was quickly running out of money. In recent weeks, the issue has
grown tense as Bing and other city leaders have accused Snyder's
administration of seeking to wrestle too much power from elected
Among key components of the new plan, according to Bing, is
a financial advisory board that will advise the mayor on yearly
revenue targets, which have often been widely overestimated in
recent decades. The city will also be required to adopt a
three-year budget instead of a 12-month budget.
Bing said this new plan - which has been commonly referred
to as a so-called consent agreement between Detroit and state
officials - "was jointly developed by the mayor's office, the
city council and the State of Michigan."