jph2
Member
Almost 40% of the city's budget was claimed by debt payments. Detroit's 2013 bankruptcy was expected to last four years. It was completed in 15 months. There is now $300-$400 million per year freed up for reinvestment in city services. Most of it will be spent on police, fire and information technology. And this is happening at the same time that Detroit's Midtown & Downtown areas are experiencing the biggest development boom in 60 years.I know Detroit is a city that lacks a LOT of money in terms of Public Safety funding, but DAMN, those look ancient soon-to-be wrecks...hopefully they'll find a way to replace the fire boat before it hits 40, and hopefully the PD marine division has new unit somewhere on the horizon (although I'm not holding my breath)
Thanks for the lesson, Professor, but I already get the the Wallstreet Journal. Yes, they have technically exited bankruptcy, but they still have a long way to go, including restructuring the budgets/finances and operations. I'm not holding my breath on the boats being replaced anytime soon b/c i know they have a lot of equipment that is relied on more frequently than the FD & PD boats (ie engines, comms equipment) that still need to be replaced while they are still in catchup modeAlmost 40% of the city's budget was claimed by debt payments. Detroit's 2013 bankruptcy was expected to last four years. It was completed in 15 months. There is now $300-$400 million per year freed up for reinvestment in city services. Most of it will be spent on police, fire and information technology. And this is happening at the same time that Detroit's Midtown & Downtown areas are experiencing the biggest development boom in 60 years.
I know Detroit is a city that lacks a LOT of money in terms of Public Safety funding, but DAMN, those look ancient soon-to-be wrecks...hopefully they'll find a way to replace the fire boat before it hits 40, and hopefully the PD marine division has new unit somewhere on the horizon (although I'm not holding my breath)
Almost 40% of the city's budget was claimed by debt payments. Detroit's 2013 bankruptcy was expected to last four years. It was completed in 15 months. There is now $300-$400 million per year freed up for reinvestment in city services. Most of it will be spent on police, fire and information technology. And this is happening at the same time that Detroit's Midtown & Downtown areas are experiencing the biggest development boom in 60 years.
One of these replies seems like an out of context response to the other... hint-I don't mean LGR replying to the first post...Thanks for the lesson, Professor, but I already get the the Wallstreet Journal. Yes, they have technically exited bankruptcy, but they still have a long way to go, including restructuring the budgets/finances and operations. I'm not holding my breath on the boats being replaced anytime soon b/c i know they have a lot of equipment that is relied on more frequently than the FD & PD boats (ie engines, comms equipment) that still need to be replaced while they are still in catchup mode