Detroit mayor announces plans to save city $50M

DETROIT (AP) -  Detroit Mayor Dave Bing has announced 10 initiatives designed to save or bring in about $50 million to the struggling city.

The revenue enhancements were detailed Wednesday at City Hall and include $14 million in parking judgments and other delinquent collections. Another $13 million would come from income tax collections and improvements to tax processing systems.

The $50 million in savings would be added to $10 million expected to be saved from several hundred planned layoffs and unpaid furlough days.

Bing initiatives were unveiled a day after the state Treasurer's office said a review team had been selected to pore over Detroit's finances. That process could lead to a state-appointed emergency financial manager.

Detroit faces a deficit of at least $200 million and has been struggling to maintain cash flow. 

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