Review team OKs consent agreement for Detroit

Reuters News

4/4/2012 4:50:14 PM - Reuters News

DETROIT (Reuters) - A review team charged with recommending a fix for Detroit's sagging finances approved a consent agreement on Wednesday that would help the city avoid a state takeover.

The team, which was appointed by Michigan Governor Rick Snyder in December, took the action ahead of a Thursday deadline for sending recommendations to the governor and after a state appeals court lifted a temporary restraining order that had stopped the team from meeting.

Detroit city council is expected to vote on the same agreement later on Wednesday.

(Reporting by John D. Stoll, additional reporting by Karen Pierog)