Fitch Affirms Taylor, MI's LTGOs at '...

Fitch Affirms Taylor, MI's LTGOs at 'BB'; Outlook Negative

There are 3 comments on the Business Wire story from May 13, 2013, titled Fitch Affirms Taylor, MI's LTGOs at 'BB'; Outlook Negative. In it, Business Wire reports that:

The Downtown Development Authority TIFA and Brownfield Development Authority bonds are secured by relevant tax increment revenues collected within the development area.

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kev

Toledo, OH

#1 May 14, 2013
Couldn't there be a state audit done in Taylor and other cities and wayne county in general ?.recommendations could be given on how to cut costs.this isn't rocket science. Local government needs to trim fat as other industries have
Pete

Livonia, MI

#2 May 14, 2013
kev wrote:
Couldn't there be a state audit done in Taylor and other cities and wayne county in general ?.recommendations could be given on how to cut costs.this isn't rocket science. Local government needs to trim fat as other industries have
The Fitch report is fairly comprehensive. It points out where the shortcomings are and why. The required actions are almost self-evident without some new guru to wave a wand.

PS. You don't want a rocket science approach. Rocket folks are notorious for spending extra money and blowing things up. Well, blowing things up might help sometimes.
kev

Rochester, NY

#3 May 14, 2013
Who says an auditor is a magical person with a wand. An auditor could give them comprehensive details on cost effective ways to avoid long term deficit. Of course painful cuts would be enacted but the end result could be positive .

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