As the city prepares to exit bankruptcy and to deliver vital city services with limited resources, Mayor Duggan announced today the appointment of one of the nation’s most respected financial experts to lead the city’s efforts to identify external sources of revenue.
Dr. Carol O’Cleireacain will have the title of Deputy Mayor for Economic Policy, Planning & Strategy. She was hired pursuant to a contract signed by Emergency Manager Kevyn Orr before the Emergency Manager returned control of operations of City government to the Mayor and City Council. Dr. O’Cleireacain will report will report directly to Mayor Duggan and work closely with Chief Financial Officer John Hill.
Dr. O’Cleireacain’s title reflects the importance of her position within the Mayor’s administration. Isaiah “Ike” McKinnon will continue as the City Charter designated Deputy Mayor.
Formerly a nonresident senior fellow at the Brookings Institution in Washington, DC, Dr. O’Cleireacain is an expert with experience at the highest levels of state and local government finance. She is particularly knowledgeable about the finances of fiscally troubled states and localities. She has held positions as Deputy Treasurer of the State of New Jersey, Finance Commissioner, and then Budget Director of New York City, the nation’s fourth largest taxing authority.
Mayor Duggan said that one of Dr. O’Cleireacain’s primary responsibilities will be to identify new sources of external funding to make the city less dependent on annual tax revenues.
“Our ability to live within the Plan of Adjustment once it is approved can’t rely solely on traditional revenue sources because they can fluctuate based on conditions we can’t control,” Mayor Duggan said. “I’ve charged Dr. O’Cleireacain with identifying new funding sources to help insulate ourselves against these unknowns so the city can provide a consistent level of service.”
Among her other assignments will be working with the Chief Financial Officer in tackling the financial aspects of the city’s emergence from bankruptcy, including the restructuring of the Detroit Water & Sewerage Department with the recently approved Great Lakes Water Authority.
“We are extremely fortunate to have such a widely respected fiscal expert as Dr. O’Cleireacain join our team,” Mayor Duggan said. “Between her and John Hill, we will have one of the best government finance teams in the country leading our city post-bankruptcy.”
Dr. O’Cleireacain holds a Ph. D. in Economics from the London School of Economics and an MA and BA with distinction in Economics from the University of Michigan.
“Mayor Duggan is setting a strong tone of fiscal accountability with his administration and I’m thrilled to have been asked to play a role,” said Dr. O’Cleireacain. “The Mayor is building a great team that is going to transform the way Detroit meets the needs of its residents for years to come.”
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