Benton Harbor, which is under state-controlled emergency financial management by Michigan, hopes to win a $7 million loan from the state to help stabilize its finances, according to local reports.
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The city’s emergency manager, former Detroit chief financial officer Joseph Harris, said the loan would be a key part of the city’s deficit elimination plan, according to reports.
The city would use the money to pay off most of its debt and set up a small surplus.
The request comes two months after the state agreed to increase the amount of money it can loan to cash-strapped local governments.
The Benton Harbor school district announced last week it will receive a $2 million loan from the state.
