April 4, 2012 / 8:50 PM / in 6 years

Detroit OK's deal to avoid state takeover

DETROIT (Reuters) - Detroit’s city council on Wednesday approved 5 to 4 a consent agreement that would avoid the city’s takeover by the state of Michigan due to its sagging finances.

A review team appointed by Michigan Governor Rick Snyder in December had also approved the deal earlier Wednesday.

Both the review team and the city council took the action ahead of a Thursday deadline for sending recommendations to the governor and after a state appeals court lifted a temporary restraining order that had stopped the team from meeting.

Reporting by Bernie Woodall; Editing by Phil Berlowitz

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