Michigan considers new deal for Detroit (Detroit News)

December 22, 2012 – State officials are weighing a revamped consent agreement with Detroit giving the city tough new deadlines to restructure its finances to avoid an emergency manager. Discussions are under way on a potential deal that could be negotiated in January and implemented when the state’s new emergency manager law takes effect in late March or early April, three sources with knowledge of the discussions told The Detroit News. They did not want to be identified because of the sensitive nature of the early discussions. The new law allows financially distressed cities more choices in resolving their budget crises, including consent deals.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s