BULK RATE
U.5. POST AG E
PAID
8 ton Harbor,
49022
it No. 50
A CP EEDS TO
CLEA HOUSE.
Eth I P yo e amin th
o nization Pa S.
ODRESS CORRECTION
REQUESTED
VOL. V 0.31 JULY 6 -12,1983
25 e n�s
y'
The city h d b en 1 te
in m in intere t p ment
on tho t 0 loan on t 0
ion Pre n noted.
LB official said they
felt the city a at it
debt rvi e limit and ou d
be unable to pay the inter
e t on the entire 1 million
in ddition to the intere t
on the other t 10 n .
Pre n noted th city
had till proje ted a . 127,
000 deficit for the fi
year endin June 30, 1
If you d n 1 h ve
gr th, th re ill be . nifi
c nt problem' Pre n
told th city leader .
Repre nting the city
er man er llis itchell
tre urer Ricardo J hn n
HARBOR
en city official to
the half loaf and tarted
from Lan in la
they heard the
pantry doors bang
ing for 1 million
this cash strapped city got
only half and a arning
from the Emergency an
Board th t the city a
at its limit.
Th ELB members not
ed that s ff rep rt pre
pared by the ommerce
D partment que tioned the
validity of the city's five
year plan.
'This is the he rt of the
i ue." stated Tony Pre ecan
of the Treasury D partment
referrin to the akine of
the plan.
'The first ix items are
a umptive," he said ti king
off the tenative tate of n-
terpri Zone legislation
lac of progress on the
orth of ain develop-
ment, and hat he lled
o BISHOP
nues
government, 0 ernment
rvice' ould be th only
route for the ci to go.
The ELB pia ed ondi
t' n on the loan. The city
mu t ppoint a orth of
in dvi ry group ithin
month' and provide
hedule for th orth of
ain proje t: and rep rt
monthly on pr re on
orth of in.
an ' inflated'
of gro th in
value.
Presecan
the de line in
ized V Iuati n over the
past five year yin th t
he didn't feel the city
projection of a 5� gro th
in the ne t five
realistic. "
xpre in other re r-
vations Pre can id the
city had borro ed from th
LB in the I st two fi I
years - 500 000 in 19 0-
1 nd 00 000 in 19 1-
2.
projection
property
Caue
c
Th ei ht bill pac age presented
by the G vernor in ludes two bills
aimed the establishment of a in r
ity Venture apital omp ny.
e feel the venture capital program
will addre real need among minority
busine id ilpatrick. "Although
we half me difference over the peci-
fics of th bill in their current form
we feel confident that e c n develop
a trong final product."
, e al recognize that the enture
capital program eaks to only a part of
th over ll problem e face," e con-
tinued. I
ilpatric noted that the BIac
Caucu favor a comprehensive appro ch
to th i ue of economic development
in the minority community. Among
the ppro che currently being pursued
by variou Black Caucu member are
bonding . tance program, a short term
r volvin loan fund the bol tering of
the t te' current minority procure-
� Folio ing Go ernor
J me announcement of a
program to revitalize the tate' economy,
the . ichigan Legislati Blac Caucus
unveiled it effort to ard uring the
intere s of Blac are represented in the
overall pl n.
n 90 minute meeting ith the
Governor I t wee, e Blac Caucus
t forth preliminary propo aimed at
making BI nch rd t comprehen ive
economic development str tegy more
reI vant to the minority community.
Our ugge tions were generally ell
received, but e realize thi i only a
tart,' Id C ucu chair Repre ntativ
Carolyn Ch e s ilpatri k (D-Detroit .
, e e prioritized economi develop
ment one of the ar as on which e will
concentrate thi 'on," ilpatric con
tinu d . 'And we kno that the pecial
problem in our bu ine communities
ill not b ddre d unle they are
consid red early on in the planning
proce .'
, OUT - ?
Continued 0 P 12