Its pretty easy:
1. Reduce taxes and fees on businesses and individuals by 50%. Eliminate 25% of the city employee labor force not engaged in actual police, fire and first responder activity.
2. Declare all abandoned real estate in the city to be public land and “homestead” it. Any individual or married couple may stake a claim to any particular parcel of property and provided they build/refurbish a building on it within 5 years of staking the claim, the property becomes theirs. No property taxes to be charged until the 5 years are up.
3. A federal loan to the city of Detroit to hire police officers who will patrol, on foot or on bicycle, the streets of Detroit in sufficient numbers to keep the peace – the loan to be repaid by a lien against property tax revenues to be realized on the “homestead” property starting five years hence.
4. Audit the city budget and determine how much is needed for basic services – if any money is left over after this amount is determined, it can be used to pay pensions and benefits to city employee retirees…if there isn’t enough, then such pensions and benefits are to be reduced or eliminated (I know, its harsh – but if the money isn’t there, then it isn’t there; the issue may be revisited at a later date if the city finances begin to have a surplus beyond basic service costs); if there isn’t enough money even for basic services, a federal loan which is, once again, to be paid back with property tax revenues starting 5 years hence.
5. Sell off all assets of the city which are not required for basic services.
Done and done – within 10 years Detroit will be booming.