emergency loans http://michiganradio.org en With $2.3 million state loan, Benton Harbor emergency manager prepares an exit http://michiganradio.org/post/23-million-state-loan-benton-harbor-emergency-manager-prepares-exit <p>Benton Harbor’s emergency manager is planning his exit. That’s after the state agreed to loan the city more than $2 million.</p><p>When Benton Harbor officially began its financial emergency, Jennifer Granholm was the governor. During the last four years, the city has operated under three different versions of Michigan’s emergency manager law. That’s how long it’s been.</p> Wed, 05 Feb 2014 11:20:03 +0000 Lindsey Smith 16309 at http://michiganradio.org With $2.3 million state loan, Benton Harbor emergency manager prepares an exit Benton Harbor emergency manager asks state for loan; city commissioners reject the plan http://michiganradio.org/post/benton-harbor-emergency-manager-asks-state-loan-city-commissioners-reject-plan <p>Elected leaders in Benton Harbor are rejecting the emergency manager’s plan to take on debt to pay down the city’s deficit.</p><p>Benton Harbor has been under state control for three years. It's cut its deficit by a third; from $3.4 million in 2010 to $1.2 million, according to the latest audit.</p> Tue, 19 Nov 2013 19:57:04 +0000 Lindsey Smith 15351 at http://michiganradio.org Benton Harbor emergency manager asks state for loan; city commissioners reject the plan Elected officials in Benton Harbor take steps to regain control of their city http://michiganradio.org/post/elected-officials-benton-harbor-take-steps-regain-control-their-city <p>A&nbsp;state appointee has run the cash-strapped city for more than two years. Former Governor Jennifer Granholm appointed Joe Harris the city’s emergency financial manager in March 2010.</p><p>Now elected leaders have set a goal for him to leave by December 2013. They hope to get a $7 million emergency loan from the state to help get Benton Harbor out of its “financial emergency”.</p><p>Mayor James Hightower says the loan would be “a game changer”.</p> Wed, 19 Sep 2012 16:03:16 +0000 Lindsey Smith 9149 at http://michiganradio.org Elected officials in Benton Harbor take steps to regain control of their city Using emergency loans to pay off other loans; some Michigan school districts are doing it http://michiganradio.org/post/using-emergency-loans-pay-other-loans-some-michigan-school-districts-are-doing-it <p>The recession has made it harder for local governments and school districts to balance their budgets. This summer the governor <a href="http://www.legislature.mi.gov/documents/2011-2012/publicact/pdf/2012-PA-0284.pdf">signed a new </a>law creating a board that will help those hardest hit cope with short term cash flow problems.</p><p>Earlier this month the emergency financial managers of both <a href="http://michiganradio.org/term/muskegon-heights-school-district">Muskegon Heights Public Schools </a>and <a href="http://michiganradio.org/term/highland-park-schools">Highland Park schools</a> got emergency loans to pay off other state loans. MHPS borrowed $7.65 million while Highland Park schools borrowed $4.4 million.</p><p>“It’s not a handout; it’s a loan in order to help get people on their feet, in order to make the changes that are necessary going forward,” said Caleb Buhs, a spokesman for Michigan’s Department of Treasury. The school districts have 30 years to pay the state back. Fri, 24 Aug 2012 20:16:49 +0000 Lindsey Smith 8808 at http://michiganradio.org