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Obama, Michigan in talks to free up $100M to aid Detroit pension deal


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Alan Chapman

Alan Chapman
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Obama, Michigan in talks to free up $100M to aid Detroit pension deal

 

...there have been talks about the federal government supporting a move by the state to give Detroit $100 million in federal money for blight remediation. That, in turn, would free up $100 million of the more than $500 million that emergency manager Kevyn Orr planned to spend for blight removal over the next 10 years. Orr could then use that money to reduce pension cuts. The federal funds would come from the Hardest Hit Fund, a $7.6-billion Obama administration effort established in 2010 to help the 18 states most hurt by the housing downturn. . . . ...Obama also has been under pressure from unions not to let retirees suffer in Detroit, a city that votes heavily Democratic.

 

The only blight that needs removal is parasitic blight.


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