Detroit's Financial Stability Board meets for the first time - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

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.

  • Robin SchwartzRobin SchwartzMore>>

  • Vandals damage historic Detroit cemetery

    Vandals damage historic Detroit cemetery

    Friday, July 25 2014 10:38 PM EDT2014-07-26 02:38:55 GMT
    Police are looking for suspects after vandals disturb the peace at a historic Detroit cemetery. Someone broke into a mausoleum and made a mess with spray paint and ashes.
    Police are looking for suspects after vandals disturb the peace at a historic Detroit cemetery. Someone broke into a mausoleum and made a mess with spray paint and ashes.
  • 33 suspects arrested with ties to Latin Counts street gang

    33 suspects arrested with ties to Latin Counts street gang

    Friday, July 25 2014 8:10 PM EDT2014-07-26 00:10:22 GMT
    Right now, nearly three dozen violent criminals are off the streets. The U.S. Attorney says they have ties to the Latin Counts gang in southwest Detroit. Their arrests are part of a joint effort called Detroit One.
    Right now, nearly three dozen violent criminals are off the streets. The U.S. Attorney says they have ties to the Latin Counts gang in southwest Detroit. Their arrests are part of a joint effort called Detroit One.
  • Handmade furniture from Detroit reclaimed lumber

    Handmade furniture from Detroit reclaimed lumber

    Wednesday, July 23 2014 4:18 PM EDT2014-07-23 20:18:32 GMT
    A new brand of furniture is made with wood from deconstructed Detroit homes. The tables are now being sold at Gardner White Furniture stores.
    A new brand of furniture is made with wood from deconstructed Detroit homes. The tables are now being sold at Gardner White Furniture stores.
  • Local NewsLocal NewsMore>>

  • Power outage numbers across southeast Michigan

    Power outage numbers across southeast Michigan

    Monday, July 28 2014 10:01 AM EDT2014-07-28 14:01:04 GMT
    As of 6 a.m., approximately 165,000 DTE Energy customers are out of electric service due to the high winds and lightning that hit southeast Michigan Sunday afternoon. DTE has restored power to 21,000 customers that were affected by the storm, which included wind gusts of up to 70 m.p.h. in the DTE service area.
    As of 6 a.m., approximately 165,000 DTE Energy customers are out of electric service due to the high winds and lightning that hit southeast Michigan Sunday afternoon. DTE has restored power to 21,000 customers that were affected by the storm, which included wind gusts of up to 70 m.p.h. in the DTE service area.
  • Dollar Tree buys Family Dollar

    Dollar Tree buys Family Dollar

    Monday, July 28 2014 7:34 AM EDT2014-07-28 11:34:12 GMT
    Dollar Tree is buying rival discount store Family Dollar in a cash-and-stock deal valued at about $8.5 billion.
    Dollar Tree is buying rival discount store Family Dollar in a cash-and-stock deal valued at about $8.5 billion.
  • Storm damage in Oakland and Macomb counties

    Storm damage in Oakland and Macomb counties

    Monday, July 28 2014 6:27 AM EDT2014-07-28 10:27:31 GMT
    Damage was reported across Metro Detroit Sunday after severe storms moved across our area. About 200,000 customers lost power in the hail, heavy rain, strong winds, localized flooding and thunder and lightning.
    Damage was reported across Metro Detroit Sunday after severe storms moved across our area. About 200,000 customers lost power in the hail, heavy rain, strong winds, localized flooding and thunder and lightning.
Powered by WorldNow

25 FOX Drive
Dedham, MA 02026

Phone (781) 467-2525

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