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Mayor Gives Financial Update

12/1/2011
Detroit News

Good afternoon.  I want to thank everyone for being here, especially the leaders standing with me today united around one common purpose.

As many of you know, there are widespread reports that I received a call from the Governor informing me that he intends to announce that the state will begin a 30-day financial review of the city, a process that could lead to the appointment of an emergency manager.  I did receive that call and I am here today with City Council, labor, our community and businesses to say that we are opposed to the Governor beginning this process.
 
We are here as Detroit to send a clear message.  We are opposed to an emergency manager. We are making progress and moving closer than ever to addressing this fiscal crisis.

I have proposed an action plan to save $102 million this fiscal year.  The presence of everyone here today shows that we all agree…we have a majority of City Council, we have labor, we have business and we have the community that understands what needs to be done to keep the city solvent.

I am leaving no stone unturned and before the State takes any action, they must commit to do the same. If Lansing believes our plan isn’t strong enough, I’d like to hear their suggestions for what can be improved. I’d like to see action on some of the critical initiatives we’ve proposed to the State to help Detroit become fiscally stable once again.

We’ve requested assistance in collection of the City’s income tax, a service Lansing could provide that would help us collect up to approximately $155 million in additional revenue on an annual basis.  We’ve asked the State to see what they can do about the $220 million owed to the City of Detroit that helped put us in a fiscal crisis in the first place.  Refusal to consider those proposals while initiating this process sends a disturbing signal to our community.
 
I have a message for all Detroiters who are troubled by this news.  We need your help.  We need to stand together and maintain order in our city.  The best thing we can do is work together to solve the problem.  You have my commitment that we won’t rest until we have a solution.  
 
This is our city.  We are Detroit.  Detroit needs to be run by Detroiters. We know what needs to be done and we are ready to do it.