A Michigan state financial review team met this afternoon and approved a proposed consent agreement with the city of Detroit.
Review team member Conrad Mallett Jr. said the proposed agreement "is the best we can do at the moment we are in," according to the Detroit Free Press.
The consent deal would keep Mayor Dave Bing and the City Council in office but impose substantial state oversight of the city’s finances. The major sticking point under a consent agreement is the reopening of union contracts.
Now its up to Detroit City Council to vote on the agreement. They are scheduled to meet today at 5 p.m. Deputy Mayor Kirk Lewis said today the thinks there are enough votes on council to pass the agreement.