How does a city turn bankruptcy into renewal?
There was a remarkable moment during the filming of this video when a member of the camera crew felt compelled to thank the man being interviewed – the city of Detroit’s Chief Financial Officer – for the work that had been done to repair his city’s finances after it filed for bankruptcy in 2013.
“As I drove down Woodward Avenue, avoiding traffic at 75 today,” the crew member told the CFO, “I saw evidence everywhere I looked of things that have happened since this city has had its financial house in order. Stadiums, light rail, revitalization of apartments and things like that. I feel like Detroiters owe you all a serious debt of gratitude for what you were able to do.”
Repairing the city’s finances hasn’t been easy. Many difficult and painful decisions had to be made. But, as Detroit has shown, putting the interests of citizens at the heart of decision-making can enable policymakers to address the most difficult challenges in government and win the confidence of the people.
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