By David Greising, Karen Pierog and Tim Reid DETROIT Reuters) - Detroit’s plan to recover from bankruptcy includes several blueprints for a new future. Detroit is far short of the $1.7 billion it needs over the next 10 years to remove abandoned buildings, replace outdated technology and increase public safety to stem the exodus from the city. “What Detroit needed to start with was a reinvestment program,” said James Spiotto, managing director of Chapman Strategic Advisors, a municipal finance consultancy. “If you don’t solve the systemic problem and fix it for real, all you’re going to do is repeat it going forward.” Detroit’s 1,034-page plan for fixing the city’s finances will be the subject of a weeks-long bankruptcy court proceeding, beginning on Tuesday.
from Yahoo News - Latest News & Headlines http://ift.tt/1ucG0si
via
IFTTT
No comments:
Post a Comment