Saturday, February 8, 2014

State of Michigan to Join Stalled Negotiations for New Regional Water Authority (UPDATED)

The Bond Buyer* reported on Friday (here) that representatives of Governor Snyder and the City of Detroit's investment banking firm, Miller Buckfire, will meet next Tuesday, February 11th, with representatives of Oakland County in an effort to jump-start stalled negotiations for the creation of a regional water authority.

Robert J. Daddow
"The state has not stepped up to deal with the issues, though they have been at the table," Oakland County deputy executive Robert Daddow said in an interview Friday "I am hopeful that this Tuesday meeting coming up will solve the issues or set in motion something to solve them."
The state and Detroit, represented by the city's investment banking firm Miller Buckfire, are expected to address the county's two top concerns Tuesday, Daddow said. That includes lack of adequate financial information and the county's worry that several of the governments in the system won't have the money to pay their bills or the large capital needs looming in the next decade.
Oakland County is one of three suburban counties that have balked at Emergency Manager Kevyn Orr's proposal citing a lack of information with which to evaluate the costs and risks associated with taking over the DWSD system. 

Comment: I'm glad to see Governor Snyder's office getting involved in this process.  The State of Michigan needs to participate, and contribute financially in order to get the Great Lakes Water Authority off the ground. 

* The Bond Buyer is a subscription based publication. This article is available through Westlaw at 2014 WLNR 3489653, and other databases, such as Gale's Infotrac. 

Update (2/12): The Detroit News reports here that Oakland, Macomb and Wayne Counties met on Tuesday, but the article does not mention anyone from the State of Michigan. Does anyone know whether the State participated in the meeting? And if not, why not?
For more about DWSD Update, click here

1 comment:

Jim Lang said...

I see this as a fork in the road for Gov. Snyder and his re-election bid.
Who does he have to please? (Where will he get the most campaign money and votes, Detroit or suburbs?)
-- Jim Lang