Statement from UDM President on City of Detroit Bankruptcy
December 11, 2013
As a result of Judge Steven W. Rhodes' December 3rd ruling that the city of Detroit is eligible for Chapter 9 bankruptcy, city and state officials are finalizing a restructuring plan that will stabilize Detroit’s finances for the next few years and the future. Numerous individuals and groups are involved in this critical process, which many leaders from the region and across the country believe and have said will strengthen and revitalize this historic city. Even though the court decision and the bankruptcy do not have any direct financial impact on University of Detroit Mercy, we reaffirm our Jesuit, Mercy and urban Mission with a commitment to keep UDM’s three campuses in Detroit and to expand the economic and community impact that has been provided over the last 136 years.
Despite the challenges that the city of Detroit is currently experiencing and addressing, there are many significant and positive investments that foreshadow Detroit’s revitalization. Through the support and collaboration of city, state and federal officials, regional businesses and citizens, Detroit is reinventing itself and will reclaim its role as one of the leading urban cities in America and the world. Some of the examples and articles below illustrate the positive activity already underway in the city. Those are some of the reasons why I am optimistic about a prosperous future for Detroit. But I also encourage prospective undergraduate, graduate and professional students to join us for a great education at University of Detroit Mercy, where you can learn and simultaneously contribute to and participate in the transformational change of Detroit, a great American city!
Antoine M. Garibaldi, Ph.D.