Gov. Rick Snyder says the state and Detroit could have a consent agreement to restructure the city's long-term finances in place sometime this week.
Snyder told reporters Monday at state offices in Detroit that both sides are making progress on a deal.
UNCUT VIDEO:Snyder press conference 3-26-12
The state and city have been negotiating Detroit's counter-proposal to a Snyder plan that called for a nine-member financial advisory board overseeing the restructuring.
Mayor Dave Bing balked at that plan, complaining it took too much authority from elected officials. He had called for a seven-member board to "monitor" the restructuring.
"Times are very difficult in Detroit and we need to all work together to get to financial stability," Snyder said. "I say there are three key things we need to do in Detroit. One is to get the city's finances to be stable and move in a positive direction. Second one is, we need to go a better job of basic services to the citizens. Public safety, lighting and transit. And then the third thing is we need to grow the city. The long term answer to Detroit's issues is a growing Detroit."