NEW YORK (CNNMoney) Detroit will get some federal help in dealing with the largest municipal bankruptcy in the nation’s history.
Several Obama administration cabinet secretaries were due in town Friday with more than $300 million in federal aid. The money is generally from programs that are available for cities across the nation, not just Detroit.
But the summit between federal, state and city officials will focus on the assistance different agencies of the federal government can provide the city without the need of additional congressional action.
The White House said the money being announced Friday includes nearly $150 million that will go to help pay for demolition of blighted and abandoned properties, a major problem for a city that has lost a large percentage of its population and tax base in recent decades.
The next biggest chunk of money is nearly $140 million in transportation aid, including money to help renovate and rehabilitate city buses, adding security cameras to protect both drivers and passengers. There will also be support for a light-rail system now under construction and support of a new regional transit system.
Finally, there will be about $30 million in public safety assistance, with $25 million coming from the Federal Emergency Management Agency to hire 150 firefighters and buy equipment to help battle the problem of arson in the city, and $3 million in money from the Justice Department to beef up police, including establishing bike patrols.
Even $300 million will only be a drop in the bucket for a city that is in dire financial trouble.
