Detroit sends a counterproposal to governor's proposed consent agreement

DETROIT, Mich. (WXYZ) - State Treasurer Andy Dillon will be meeting on Thursday with some of the same city officials who handed him a counterproposal to the governor's proposed consent agreement.

Dillon said he was looking forward to reading it and starting the real process of negotiating an agreement everyone can live with.

City Councilwoman Saunteel Jenkins says she feels the final agreement will have to leave some of the power in the hands of the elected officials, meaning the mayor and council.

Jenkins also says it needs to have a "sunset clause" so there is an "out" for the city from a consent agreement once the city is in good financial standing.

A spokesperson for Governor Rick Snyder, who is out of the country, says they need to reach an agreement on the consent agreement by the end of the month because if they don't, an emergency manager will be the next step.

The governor's office says the financial review team is still very much involved in this process. Members of that team said today they've come to the conclusion that the city of Detroit is in a "severe financial emergency."