Detroit city planner Karla Henderson, says, “What we have found is that even some of our stronger neighborhoods are at a tipping point with vacancy. Vacancy adds to blight and blight is a disease that takes over the whole neighborhood. So the sooner we can get those homes occupied, the better for the city.” That’s a tough prospect considering Detroit’s population has been halved since 1950.
But evidently the trimmed down police department requires new quarters so the city borrowed $100 million and to build a new station. Mayor Bing says, “The financial markets believe in what we’re doing to bring fiscal responsibility back to Detroit.”
The markets? “The city sold so-called Recovery Zone Bonds authorized under the U.S. economic-stimulus plan, borrowing at 4.55 percent,” Bloomberg reports.
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