News

September 10, 2013

Federal officials reach out to boost Detroit - but no bailout planned

Washington— In the wake of Detroit’s historic Chapter 9 bankruptcy filing, the Obama administration is intensifying efforts to reach out to Detroit business, foundation and labor leaders for help identifying ways to better use federal funds to help the Motor City.

The White House convened a meeting the Friday before Labor Day weekend to discuss Detroit’s struggling finances and to determine how the city could maximize existing federal programs and grants. It was attended by some of Detroit’s most prominent business and community leaders, four cabinet officers and key presidential advisers.

From The Detroit News: http://www.detroitnews.com/article/20130910/METRO01/309100031#ixzz2eVLYYCrI