Detroit Is Ready To Take Charge – Mousa Ahmad
Proceedings on the city of Detroit’s exit strategy out of bankruptcy has begun. The first to take the stand is John Hill, Detroit’s CFO, appointed by emergency manager, Kevin Orr. Hill explained that the plans and procedures that have been put in place for emerging away from Chapter 9 bankruptcy are feasible for the city. The bankruptcy’s legal venture decided that Hill would be the best witness for the stand in order to make their case on why Detroit is ready to take charge, once again.
Hill explained that the bankruptcy plan is a structured ‘road map,’ and the city is prepared to follow it thoroughly. However, due to some funding issues, some of the trails along the path cannot be met without specific funding. For example, over $1 billion of the bankruptcy plan needs to be funded by those willing to make large costly cuts, and improve revenues and taxes for the city.
Hill originally came to Detroit as an overseer of the city’s grant funding and management, that wasn’t being handled appropriately. When Kevin Orr came into the picture during the bankruptcy issues, he asked Hill to become the city’s CFO. While Hill explains that he follows the direction of Orr’s plan, he hopes to become a vital and continuous member of the city, after the bankruptcy issues have been resolved, as his relationship with Mayor Duggan is strong.
Hill went onto discuss the extensive solutions and plans that have been placed in the city’s road map. He explained how long and at what costs certain projections are scheduled to be met, and detailed the feasibility behind everything that Detroit has in store for its’ future.
Judge Steven Rhodes, the bankruptcy judge overseeing this Detroit trial, has expressed his concerns on the road map plan and Hill’s testimony. Creditors have also come forward with their concerns, but both Hill and Orr hope to alleviate any of their concerns for the future. Hill explained that immediate steps, such as blight removal and increased city funding, has already pushed Detroit in the positive direction that they hope for in years to come. With this increased momentum and transparent trial, Hill and Orr hope to convince all the higher officials, creditors, and businesses across Detroit, that their plan is solid and will bring Detroit into a better future.