Michigan

Wayne County, Mich., is open to moving its unfinished downtown Detroit jail to make way for a soccer stadium, but only if it is not saddled with the money and debt it has already sunk into the project

Voters in Indiana and Michigan responded favorably to requests for hundreds of millions of dollars in requests for bond borrowing authority.

State legislation to deal with about $500 million in Detroit Public Schools debt is headed to Michigan’s full House after winning approval Wednesday.

Some version of Detroit’s so-called “grand bargain” could help other fiscally struggling Rust Belt cities, including Chicago, the Manhattan Institute for Policy Research says in a report.

Fitzgerald Public School District in Macomb County, Michigan lost its investment grade rating on its limited tax general obligation bonds and remains at risk of its unlimited tax GOs also falling to a speculative grade.

Debate began Tuesday in the Michigan House on a $715 million restructuring of Detroit Public Schools amid mounting growing pressure to act as the district’s fiscal crisis prompted a two-day district-wide “sickout.”

Voters in Indiana and Michigan headed to the polls Tuesday will decide the fate of more than $1 billion in school district borrowing requests.

The Michigan House signed off on a $54 billion fiscal 2017 budget that provides more money to deal with Flint’s water contamination crisis and record spending for kindergarten through 12th grade education.

In a near unanimous vote, the Senate Environment and Public Works Committee on Thursday passed a bill that includes $1.4 billion in federal funding for Flint, Mich. as well as any other community facing a water crisis.

After having been withdrawn from the energy bill in the Senate, controversial legislation to provide federal funds to Flint, Mich., and any other community facing a water crisis, has been included in a major water bill introduced in the chamber this week.

Detroit Public Schools says its prior administration’s mishandling of $30 million in federal funds won’t add to the fiscal burden the state is being asked to cover as part of a sweeping restructuring.

An uptick in patient volume and the November acquisition of Allegiance Health helped boost Detroit-based Henry Ford Health System’s credit rating outlook.

A Michigan House committee will take up the next round of discussions on the proposed Detroit Public Schools restructuring.

St. Louis-based Ascension Health Alliance is set to bring $1.9 billion of bonds to market in deals that fold into one package the system's new money needs, refunding opportunities and refinancing of inherited debt.

Michigan Attorney General Bill Schuette’s criminal probe of the Flint water crisis will include a review of the bond-financed pipeline the Karegnondi Water Authority is building to deliver water to the city.

St. Petersburg, Fla.-based Raymond James hired Brodie Killian, re-establishing an on-the-ground banking presence in Michigan to supplement its retail brokerage operations.

Michigan’s State Housing Development Authority single family revenue bonds could get a credit boost from new federal funding, Moody’s Investors Service said in a commentary.

Flint and Genesee County will remain in a state of emergency until Aug. 14 under a four month extension granted by Michigan lawmakers on Wednesday.

The long-stalled bipartisan energy modernization bill is expected to move forward in the Senate without an amendment that would have provided Flint, Mich. with $220 million to address its ongoing water crisis.

Michigan municipalities may need to more than double investment in water infrastructure to avoid crises like the disaster in Flint, a report commissioned by the Michigan Infrastructure & Transportation Association showed.