Detroit stimulus plan proposed

Kwame Kilpatrick revealed details of a new $300-million economic stimulus plan today (see the Free Press or the News). The plan includes:

• $75 million for a rainy-day fund
• $15 million for business loans
• $10 million to prevent foreclosures
• $200 million for public works projects including "new Eastern District police headquarters; new fire stations for the east and west sides; new fire training complex; streetscape improvements; demolition of 50 abandoned commercial buildings; park upgrades, and dozens of other projects."
  

Now for the caveats.

• The city may need state approval to issue bonds.
• The mayor assumes casino revenue will increase substantially; if it doesn't the city will have to dip into revenue currently earmarked for other projects to pay back those bonds.
• Many on the City Council contend infrastructure can wait -- Detroit needs to rehire firefighters and policemen first.
• The Council is loath to pass anything proposed by the mayor.

So with that said, we'll see if this goes anywhere.