Proponents: Council President Pugh, Council Pro Tem Brown, Councilmember Jenkins,

Councilmember Spivey, Councilmember Tate.

Joint Statement on Greektown Casino Vote

February 4, 2010

  After a series of intense discussions and heated debates, we have reached an affirmative resolution. Realizing the importance of this matter, each councilmember has proceeded with careful deliberation and has participated in a proper amount of due diligence. We want to definitively state that our action today was based on information, not intuition. This council is intent on making decisions based on the facts before us, not based on personal connections. Our only consideration has been to do what is in the best interest of the citizens of Detroit. Therefore, after appropriately weighing the merits of all arguments, we are confident that we have made the right decision.

  In a 6-3 vote, this honorable body has decided to approve the settlement of $16 million dollars with Greektown Casino. $9.6 million of these monies will be applied to the general fund, representing roughly 10% of this year’s projected budget deficit. Approval of this matter was a hard choice; however, it was the right choice.

  By accepting this settlement, Detroit will receive funds greatly needed to improve the fiscal health of our city. The receipt of this money is critical to the mayor’s deficit elimination plan and provides the city with significant revenue to deal with our budget shortfall. These funds could increase our bond rating, helping us to secure $250 million in fiscal stabilization bonds. In addition, casino owners are currently committed to having more than 50% of the workforce represented by Detroiters. It was important for council to act expediently, yet responsibly, to close this issue. We cannot delay when presented with an opportunity to firm up our financial footing. Detroiters deserve leadership that does not postpone challenging decisions in protection of political popularity.

  An important point in our consideration of this matter was the involvement of local investors. Our vote today in no way restricts or hinders local investors from vying for their share of ownership of Greektown Casino. We thank those who have worked tirelessly to secure casino gaming for Detroiters.  Central to their campaign for casino gaming was the inclusion of local investors in the process.  We feel this is still an essential component today. Therefore, we encourage and support any local investor, who has the means, to bid for ownership.

  There is bound to be some opposition to our decision. Some may even be motivated to misrepresent our intent. Nevertheless, we want to be clear that we have acted on behalf of the citizens of Detroit; we have made progress on improving our budget shortfall, we have preserved the local investors’ right to be involved, and most importantly, we have shown Detroiters that we are capable of making tough decisions with competence and courage. Detroiters, you can be confident that we have made the right decision for you.