Detroit's Financial Stability Board meets for the first time - FOX 10 News | myfoxphoenix.com

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>>

  • Parents unhappy with how principal enforces junk food policy

    Parents unhappy with how principal enforces junk food policy

    Wednesday, April 16 2014 6:47 PM EDT2014-04-16 22:47:22 GMT
    Parents of students at T. Dale Cooke Elementary school in Detroit say the principal is enforcing students to eat healthy in the wrong way.
    Parents of students at T. Dale Cooke Elementary school in Detroit say the principal is enforcing students to eat healthy in the wrong way.
  • GM looking to bankruptcy court for lawsuit protection

    GM looking to bankruptcy court for lawsuit protection

    Wednesday, April 16 2014 6:14 PM EDT2014-04-16 22:14:09 GMT
    General Motors says it will ask a federal bankruptcy judge to shield the company from legal claims involving conduct before its 2009 bankruptcy.
    General Motors says it will ask a federal bankruptcy judge to shield the company from legal claims involving conduct before its 2009 bankruptcy.
  • Oakland Co. fighting the growing heroin epidemic

    Oakland Co. fighting the growing heroin epidemic

    Wednesday, April 16 2014 5:44 PM EDT2014-04-16 21:44:13 GMT
    A heroin epidemic is spreading across metro Detroit communities. Oakland County Sheriff Michael Bouchard says cases are up more than 300 percent from last year, and that appears to be the trend everywhere.
    A heroin epidemic is spreading across metro Detroit communities. Oakland County Sheriff Michael Bouchard says cases are up more than 300 percent from last year, and that appears to be the trend everywhere.
Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

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