Mayor Dave Bing releases report on Detroit restructuring plan
4:55 PM, Mar 12, 2013
3:43 PM, Jul 10, 2013
DETROIT (AP) - Detroit Mayor Dave Bing says the City Council's appeal of Gov. Rick Snyder's determination that there's no plan to solve Detroit's financial emergency is unlikely to halt an emergency manager's appointment.
Bing says he endorses the council's assertions that a viable restructuring plan is in place, and he released a progress report on the plan Tuesday.
The report says Detroit has implemented or identified cost savings to address its $150 million annual structural deficit.
The report forecasts $2 million in savings from unpaid furlough days imposed on 1,200 workers, $52 million from pension cost deferrals, $11 million from job cuts and $2 million from vendor spending cuts.
The city also forecasts $3.5 million in new revenue from rate increases to three major public lighting customers.