Financial Stability Agreement Speaks Well of Governor Snyder and City of Detroit


The Michigan Department of Treasury’s financial stability is an amazing recognition that the City of Detroit must do well for our state to do well. Possibly because we have a governor who has not been a lifetime politician, we finally have Michigan in a position where all citizens in the state show concern about the progress, development, and redevelopment of the City of Detroit.

One could write dozens of articles about the Financial Stability Agreement. It is available on the Web if one reviews this document on The Detroit News. Incredibly, the appendices, which are a part of the Agreement, offer a clear prioritization and timing process. By example, looking at the need for the city’s Operational Reform Program, the Mayor and Council, as well as the Michigan Department of Treasury, agree that there will be a prioritization and timing for reform of the Public Lighting Department, DDOT changes, income tax collection reform, obtaining and dispersing of grants, improved financial reporting, human services reform, and so many other key and basic issues for our city to successfully grow.

With regard to land use, Annex E, appended to the Agreement, fully contemplates that there will be “Land Stewardship” that would improve the state’s stewardship of its own land in the city. There will be an emphasis on redevelopment, including undertaking a full review to determine what land can be redeveloped effectively and responsible ways to transition other parcels to “successional landscapes.” This is but one example of the rational approach being taken by a struggling local community in a state that knows it will be struggling in the same fashion if finances are not improved.

The public officials involved have a huge mountain to climb, and this Agreement will be viewed as a great starting point for our children when they look back at this in 2032.