DETROIT (WJBK) - Wayne County Commissioners have voted in favor of a consent agreement with the state to fix its finances.
The county is $52 million in debt due to a huge drop in property tax revenue and an underfunded pension system.
Officials had four options after Gov. Snyder declared the county to be in a financial emergency. The other options were mediation, appointment of an emergency manager or bankruptcy.
This is the option Wayne County Executive Warren Evans was pushing for, and 12 commissioners agreed. Two voted against the agreement, and one abstained. At least eight commissioners needed to be in agreement.
The consent agreement basically means the county will work with the state to try and fix the financial issues. The exact terms of the agreement are still in the works, but could include pay cuts.
You can read the full statement from Evans below:
"Today Wayne County continues on its road to financial recovery.
I thank the Wayne County Commission for the selection of Consent Agreement. After carefully considering the available options, they made the right decision.
As we finalize the terms of the Consent Agreement with the State Treasurer, we will continue in our commitment to negotiate in good-faith with our unions. Although a Consent Agreement will eventually give the County the ability to set the terms of employment, our preference is to reach agreements at the bargaining table.
We have already made significant strides towards getting Wayne County back on the right fiscal path. The consent agreement will ensure our ability to fully implement our Recovery Plan and stabilize the County for the future."
This is a developing story. Stay with FOX 2 for updates.