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Emergency manager in the wings

Gov. Rick Snyder (left) with Nolan Finley (center) and Stephen Henderson

Gov. Rick Snyder (left) with Nolan Finley (center) and Stephen Henderson

Mayor, Council has 10 days to respond

Staff Report

DETROIT – Gov. Snyder has declared a state of financial emergency in the city of Detroit. He says no satisfactory plan exists to resolve it.  At a town hall address, March 1, at the Detroit Public Television studio, the governor said very little action was taken on the Consent Agreement city officials entered into with the state last April to solve the city’s deficit. “Today is the day to call all hands on deck,” Snyder said. “There’s been too much fighting and blame…and not enough people working together.”

Additional action is needed to fix the “financial crisis,” he said.

Snyder’s announcement comes 10 days after his appointed review board to the city recommended an emergency financial manager for the cash-strapped city.

The governor says he has a top candidate in mind to oversee the city’s finances if it comes to appointing an emergency financial manager.  But, he says, it’s too early and inappropriate to give a name at this time.

Mayor Dave Bing and City Council has 10 days to request a hearing with the governor for reconsideration.  If that happens, the hearing will take place March 12.  Within 10 days following the hearing the governor will confirm or revoke is original determination.

If an emergency manager is appointed, he or she will operate under the new emergency financial manager law Public Act 436, which goes into effect March 28.

Visit DetroitCantWait.com for more information and updates.

More to come.

DETROIT FACT SHEET
Detroit’s Financial Crisis: What you Need to Know 

 

 

 

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