A consent agreement has been reached between Detroit City Council and a state-appointed financial review team. That deal was approved by Governor Rick Snyder.
The consent agreement immediately avoids the appointment of an emergency manager, but many residents still think a consent agreement is a bad deal for Detroit. Saundra Hines told members of the financial review team, most of whom are also Detroit residents, that she feels they were bamboozled by state officials.
"I mean what did it take for you to sell us out the way that you're doing?" she asked the team.
Members of the review team say they are proud of the agreement, adding that it will help turn Detroit around. But, State Treasurer Andy Dillon says financial stability won't happen overnight.
"It's going to take a long time," he says. "The city didn't get here over night, so it's going to take awhile to get her back on her feet."
Governor Snyder applauded city and state officials for reaching the deal. He is expected to sign the agreement.