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Detroit has been in a water crisis since 2014, the time that the city was in bankruptcy, when the DWSD shut off water of residents who had missed payments. [8] In 2014, half of customers were behind on payments and the average amount of money customers who were behind on payments owed was $560. [ 9 ]
The assumption of Detroit's operations and debt is under a 40-year lease that GLWA has over the City of Detroit's water system. [1] The lease agreement was brokered in secret mediation by U.S. District Judge Sean Cox and required "lengthy and contentious negotiations" between Detroit and suburban Detroit leaders, who feared any prospect of ...
As many of 300 more Detroiters can apply for the next round of a down payment assistance program providing up to $25,000 to help purchase a home.
As of 24 June 2014, the Detroit Water and Sewerage Department is "an estimated $5 billion in debt and has been the subject of privatization talks ... [it] says half of its 323,000 accounts are delinquent and has begun turning off the taps of those who do not pay bills that total above $150 or that are 60 days late.
The agreement gives the city 30 years instead of 20 to catch up on payments that were deferred during Detroit's bankruptcy 10 years ago. The retirement system investment committee and board had ...
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Details from the Detroit bankruptcy filing. The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on July 18, 2013. It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama's $4-billion filing in 2011. [1]
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