The Craig Fahle Show

State To Oversee Detroit's Grand Bargain?

Thursday, May 8, 2014

A number of bills are expected to be introduced today that would put state funding toward Detroit's restructuring. Bankruptcy reporter and Next Chapter Detroit blogger Sandra Svoboda and Vince Keenan, the District 5 Manager for Detroit's Department of Neighborhoods, sit down to recap Craig's conversation with House Speaker Jase Bolger. They explore the impact of the conditions that could be attached to the funding package that was described by House Speaker Jase Bolger.

While the Speaker of the House suggested that the state would have approval over contracts for at least 20 years, Svoboda points out that Bolger did not mention related protections that are already a part of the conversation in the city’s restructuring documents. While there are still many moving pieces in Detroit's ongoing bankruptcy proceedings, Bolger says it's essential to make sure the state takes a viable and sustainable approach in their proposed solution to Detroit's finances.