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.
Link to Full Article: http://www.detroitnews.com/article/20121222/METRO01/212220340/1409/