Skip to comments.Obama allocates $52 million to Detroit for urban blight removal as pension funds protest bankruptcy
Posted on 08/21/2013 8:36:52 AM PDT by SeekAndFindEdited on 08/21/2013 9:20:42 AM PDT by Admin Moderator. [history]
Of course, the subjects of Detroit’s many unfunded obligations and liabilities were never going to take the bankruptcy lying down — why would they? The city’s lines of red ink are going to mean a lot of real material pain for a heck of a lot of people who built their life plans around these promises, but thwarting the city’s bankruptcy isn’t going to change the fact that decades of these extravagant and unsustainable promises (the consequences of which they’ve probably underestimated!) have left the city with few workable and zero pain-free options. Let other progressive havens take note.
(Excerpt) Read more at hotair.com ...
Yeah, that’ll help.
Just making room for new and improved blight!
Few blighted buildings will be razed...municipal pension liabilities will be funded.
It’s the Chicago way.
“The letters say that they depend on the pensions promised to them, that they turned down higher-paying job offers in the past because of the benefits, and that they rely on the pensions to meet their obligations.”
Having worked with a peu for years and knowing what I know about most gov’t workers, I have to laugh at the “turning down higher-paying jobs” bit. Janitors and cafeteria workers with no other skills making more wages and benefits than some college educated private workers.
$5000 tax on demolition permits, with the proceeds going to the pension fund...
Probably not much copper left in those buildings
anyway, all stripped already.
The guy running a salvage business near me says the old brick is worth a mint if you can get it in bulk and sell it for paving sidewalks and patios. Copper roofs perched on top of those teetering piles of brick is also worth a mint.
This *is* what Detroit needs to do, although the money probably won’t end up where it is supposed to....this is Detroit :(
Well, it’s certainly hard to argue with the notion that bulldozing Detroit isn’t a good thing.
I was gonna say that $52M can provide a lot of D9 Cats.
Just more 0-stash going to the cronies.
He served as mayor for five terms. So, five terms of no new businesses also meant at least 5 to 50 people were not hired per business.
It is high time we blame who was really responsible for the beginning of the decay.
FRper’s are you reading and understanding this? Zero is giving these folks MMs of our dollars! WTH is wrong with you, you’re making really lame comments regarding this. Has FR caved? WTF???
You might want to look around. Hundreds of cities and towns routinely get millions and do every year and have for decades.
In fact it might even be a good thing in this case. Virtually the entire Delray neighborhood needs to be demolished to make way for the new bridge anyway. Its one of the worst areas of the city.
Just a “taste” for the boyz in the hood. Y’all stand by for more under the table gravy. Patience boyz, all he has left is 3 MORE YEARS!!!!! Back off NSA, you’re just jealous!!!
Looks like Kevyn Orr will have control of the money.
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