Detroit’s deal Last night, the Detroit City Council voted to approve a consent agreement with the state to avoid takeover by an emergency manager. That means, as long as the governor signs the deal as expected and the courts don’t strike the deal down, Detroit finally has the first step in a plan to avoid bankruptcy. Partner station Michigan Radio reports on what it all means.
Chicago’s debt problem The Chicago Sun-Times went looking for reasons why Chicago would turn to private partnerships to fund its new multi-billion dollar plan to rebuild infrastructure. One major reason: the city’s staggering debt. Chicago can’t take out any more bonds to pay for improvements because the city spends almost 23 percent of its annual budget paying off the $7.3 billion in debt it already has.
Illinois’ turn Illinois is getting into the fracking game. Crain’s Chicago Business says the state could see a natural gas-drilling “boomlet” as companies explore southern Illinois for possible drilling.
Bulldozing blitz Partner station WCPN Ideastream had a story on NPR’s Morning Edition today that looks at the effort to tear down vacant houses in Ohio. The state set aside $75 million from its share of the $25 billion nationwide mortgage fraud settlement to pay for demolitions.
No more coal ash The Ludington Daily News reports the city’s historic car ferry has received a grant to convert its fuel source. Without the grant, the coal powered ferry would have been forced to shut down by the EPA. The historic vessel dumps about 500 tons of coal ash into Lake Michigan every year.
#goodnewsforDetroit Twitter says it will open a new office in Detroit. Michigan Radio’s Jennifer Guerra reported the news in tweet form. You have to hear it.
