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It's two years to the week since the citry emerged from bankruptcy court supervision, and Detroit must deal with some harsh realities.
Joe Guillen writes in the Detroit Free Press:
Bracing for hefty pension and debt payments that each will exceed $100 million a year for several years, the city of Detroit is preparing a first-of-its-kind 10-year financial report that will include potential revenue from the Pistons' expected move to Detroit and other downtown projects.
The report, expected by February, will be crucial to the city maintaining its post-bankruptcy financial health, and fulfilling its goal to get out from state oversight by 2018, Detroit Chief Financial Officer John Hill said.
Details in the report about how Detroit grapples with ballooning pension and debt payments beginning in 2024 will be pivotal.
