The city of Detroit has been underwater on their bills for a long time and Kwame Kilpatrick can take a lot of the blame for that. But now, the city is drowning and a life preserver they may not like is set to be thrown to residents.
In a press conference Tuesday, Michigan State Treasurer Andy Dillon alerted the public that the city is stuck in a financial quagmire “that there is no plan in place to correct…” The declaration made by Dillon’s office was sent to Michigan Gov. Rick Snyder, who in turn declared the city is in a “financial emergency” that can only be remedied by outside assistance …an emergency financial manager, according to MSNBC.
The predominantly African American city faces an assortment of disenfranchisement efforts if this happens. Everything from a major push of gentrification projects to a boost of outside business owners reducing the chance of organic African American entrepreneurial efforts. The former beloved mayor of Detroit, Mayor Coleman Young, long ago prophesied that the city would be sold for a quarter to the highest bidder if certain leaders came in and shook the wrong hands.
This is already evident as the city has seen home prices shoot up nearly 27 percent since Jan. 2012, according to the Detroit Free Press. Not only that, the owner of Quicken Loans and the Cleveland Cavs, Dan Gilbert, who is also a native of suburban Detroit, has planned an essential takeover of Detroit’s downtown with a major investment made in Detroit’s business and residential areas. Why else would he make such an investment in the city with such decline? According to the Huffington Post:
“Yet Quicken Loans, the mortgage lender Gilbert co-founded in 1985, has invested $1 billion over three years, bought some 2.6 million square feet of commercial space in the downtown area and moved 7,000 employees there in a bid to make that vision a reality.”
The city has been fighting the republican governor’s push for an emergency financial manager long before now. But it appears that with the support of the Treasurer, their prayers have been answered and the city will see a detrimental difference because of the manager’s detachment with Detroit’s residents.
Read more here.