From what I've been able to piece together from various news sources, I have some questions about what the city is presenting:
Are they really re-allocating $100 million in grant money from the US government for blight removal to fund pensions? How exactly does that not run afoul of the law?
Did the City's required contributions to the fund change, or, in great political fashion, did the City simply allow the funds to increase their expected rate of return, in order to reduce cuts today (meaning that if the return targets are not met, cuts will be reduced further in later years)?
Did the City's contribution to health care go up or down? When GM and Chrysler set up VEBAs, they funded them with large (billions) stock contributions? With what are these healthcare VEBAs being funded?
If anyone can point me to the actual term sheet or press release on the deal to enlighten me, I'd appreciate it.
I knew the other shoe was going to drop eventually.
An interesting article in itself, I loved this little nugget buried towards the end.
...even if Snyder gets the support he needs, the Hits feels safe to assume it would come with some unpleasant dealmaking happening behind the scenes, especially with another likely contentious lame-duck session this winter.
DEMF originator Carol Marvin along with techno godfather Juan Atkins has returned to lead next year's electronic music festival. Also returning is the original name for the electronic music festival after a 10 year hiatus.
I think this is good news for a a couple of reasons. First off the name of Detroit is returned and gone is Movement which to my ears always sounded like... well.
Next, it has a free site held in an exciting new location - Campus Martius, in the heart of the reviving downtown. Ford Field will be a paid venue, paying for the free part.
Except if you are a member of the Detroit Yacht Club.
Now that we have a state park will it increasingly be made off limits to the public to host corporate and entertainment events?
It started with the Grand Prix who paved over a few acres and now this. Do you approve of this on the summer dates of Sept. 7-11?
For four days in September, Belle Isle runners, picnickers and anglers will be replaced by talking cars, driverless vehicles and high-tech traffic systems.
The futuristic Belle Isle demonstrations are part of the Intelligent Transport Systems 21st World Congress, running concurrently at Cobo Center Sept. 7-11.
The event occurs in North America every three years, this marking the first time it's been to Detroit. It’s expected to draw as many as 10,000 business executives, legislators and researchers to showcase the latest innovations in transportation.
Belle Isle will host live demonstrations of driverless cars, including passenger vehicles, commercial trucks and military vehicles, and robotics.
The island became a state park in February, when Michigan leased the city-owned park for 30 years relieving bankrupt Detroit from managing the area.
Scott Belcher, president of Washington, D.C.-based ITS America, said the state’s offer of using the park for the World Congress proved how serious the state takes its stake in automotive.
During the event, Belle Isle will be closed for four days to the general public, with the exception of owners of boats docked at the Detroit Yacht Club.