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As state moves to put emergency financial manager in Detroit, Kresge CEO says foundation expects to press forward with its work in city


March 02, 2013

Rip Rapson, the president and CEO of The Kresge Foundation, today issued a statement responding to the planned appointment of an emergency financial manager for Detroit.

 

Michigan’s governor has decided to send an emergency financial manager to the city of Detroit.

Gov. Rick Snyder’s decision, announced Friday, is within his authority under state law and a recently enacted emergency financial manager law that will take effect in Michigan later this month.

At The Kresge Foundation, we remain focused on the work we have undertaken in Detroit.

There is much that is bearing fruit. There is groundwork well laid. There are able partners and community members – some Detroiters for generations, other enthusiastic newcomers – who daily see the evidence of revitalization and are committed to the city that built America’s middle class.

About the Emergency Financial Manager

As many know in Michigan and beyond, ground will be broken this year on a new rail project connecting Detroit’s Midtown neighborhood to its downtown riverfront. An unprecedented, comprehensive planning effort has been completed, giving Detroit a road map for building on its assets, creating jobs, fostering economic growth and ensuring vibrant, healthy neighborhoods.

Kresge continues to work with partners engaged in those efforts as well as with scores of others harnessing the energy of arts and culture, entrepreneurship and innovation, supporting young people and building pathways to the economic mainstream.

Detroit is the place our founder, Sebastian Kresge, made his home. Our Detroit Program uses a comprehensive framework aimed at promoting long-term economic opportunity and re-establishing our hometown as the center of a vibrant region. Our board of trustees is supportive, approving grants that in recent years have allowed us to invest about $25 million annually to advance those goals.

The appointment of an emergency financial manager will undoubtedly touch all who live and work in the city of Detroit in ways not yet clear.

But we fully expect to be able to move ahead.  

We will not be distracted or deterred. We are fully committed to working with all Detroiters embracing the possibilities of a re-imagined Detroit.

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