Detroit Emergency Manager Says State Money Needed for "Grand Bargain"

7:29 am
Wed May 14, 2014

Detroit Emergency Manager Says State Money Needed for "Grand Bargain"

Lead in text: 
Local and national foundations have agreed to contribute $366-million if settlement is reached
Detroit emergency manager Kevyn Orr on Tuesday pleaded with Lansing lawmakers to kick in $195 million in upfront cash as part of a 'Grand Bargain' to help resolve the city's historic Chapter 9 bankruptcy - while some of city's largest creditors devised strategies to block the fund meant to shore up pensions and protect DIA art from being sold to pay off debt.