Detroit's Financial Stability Board meets for the first time - New York News

Detroit's Financial Stability Board meets for the first time

Posted: Updated:
Members of Detroit's new Financial Advisory Board  (Credit: WJBK | myFOXDetroit.com) Members of Detroit's new Financial Advisory Board (Credit: WJBK | myFOXDetroit.com)
DETROIT (WJBK) -

Detroit's nine-member Financial Advisory Board is now sworn in and ready to take on the daunting task of turning the city around in the midst of a $260-million deficit.  Detroit Mayor Dave Bing thanked the board members and laid out the city's priorities.

"The number one issue on everybody's mind has been public safety.  The people are really concerned about the lack of lights in our city," he said.

Other issues include recreation centers, public transportation, vacant properties and so much more.

The group went into closed session for more than an hour to discuss the city's labor contracts, which expire June 30.

This whole process is required under the Financial Stability Agreement with the state, and the next three years, their goal is to reduce the city's long-term liabilities by $3-billion and eliminate the deficit.

"We don't have all the answers.  Maybe that's where you come in and really can be a support system to us," Bing said.

"If there is anything that is too difficult for us to tackle, then we're the wrong people," said board member Glenda Price.

"This is going to be very interesting.  I mean, this is going to be changing the culture of a government, the culture of a region, the culture of a city, and it's step up time for everybody," said former Detroit City Councilwoman Sheila Cockrel.

We didn't hear too many specifics on how they plan to get all of this done, but this was only the first meeting.  We're told the group plans to meet monthly and probably more, although the next meeting has not yet been set.

  • Local NewsLocal NewsMore>>

  • Weather conditions ripe for brush fires in NJ

    Weather conditions ripe for brush fires in NJ

    Wednesday, April 23 2014 9:08 AM EDT2014-04-23 13:08:34 GMT
    Forecasters have issued a red flag warning and fire weather watch for most of New Jersey.
    Forecasters have issued a red flag warning and fire weather watch for most of New Jersey.
  • NYPD Twitter hashtag backfires

    NYPD Twitter hashtag backfires

    Wednesday, April 23 2014 6:23 AM EDT2014-04-23 10:23:11 GMT
    A NYPD plan intended to better connect with the community seems to have backfired a bit. The police department asked its twitter followers to share pictures of themselves with New York City police officers using the hashtag "myNYPD." Some did share nice pictures, but others not so much.Some of the first pictures posted showed regular citizens standing with very friendly looking police officers.
    A NYPD plan intended to better connect with the community seems to have backfired a bit. The police department asked its twitter followers to share pictures of themselves with New York City police officers using the hashtag "myNYPD." Some did share nice pictures, but others not so much.Some of the first pictures posted showed regular citizens standing with very friendly looking police officers.
  • Caesars enters New York casino competition

    Caesars enters New York casino competition

    Tuesday, April 22 2014 10:52 PM EDT2014-04-23 02:52:22 GMT
    Caesars Entertainment entered the competition to open a casino in upstate New York on Tuesday with a proposal to build a $750 million complex 50 miles north of New York City. The complex would include a casino, a hotel and a meeting space and would be located in Woodbury, in Orange County. The Las Vegas-based Caesars, which operates 52 casinos around the world, has submitted a $1 million casino license application fee to state gambling regulators.
    Caesars Entertainment entered the competition to open a casino in upstate New York on Tuesday with a proposal to build a $750 million complex 50 miles north of New York City. The complex would include a casino, a hotel and a meeting space and would be located in Woodbury, in Orange County. The Las Vegas-based Caesars, which operates 52 casinos around the world, has submitted a $1 million casino license application fee to state gambling regulators.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices