ROMULUS, Mich. (WXYZ) - Review the entire 130-page document that was presented to creditors by the city's Emergency Manager, Kevyn Orr, on Friday morning.
Orr is telling creditors the city can only afford to pay about ten cents on the dollar on unsecured debt . Some other unsecured debt will be offered less than that.
The document is 130 pages in length and provides a stark look at the city's infrastructure and finances.
Some facts from the report:
- There is a backlog of 33,000 street light complaints
- The police dept has a case clearance rate of only 8.7%
- Average age of Detroit's fire stations is 80 years
- There are 38,000 "dangerous buildings" in the city
READ THE FULL PROPOSAL TO CREDITORS:
Mobile users, view here: http://media2.wxyz.com/html/WXYZCity-of-Detroit-Proposal-for-Creditors.pdf
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