Orr: Detroit to halt debt payments, reinvest $1.25 billion in city »

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Detroit emergency manager Kevyn Orr laid out an extraordinary, complex and painful path back to solvency for the city of Detroitt this morning in a proposed plan to creditors. It would spin off the city's water department, reduce city-provided health care for retirees and immediately stop debt payments and then use that money to keep the city operating while reinvesting $1.25 billion over the next decade to boost crucial public services like police and fire, step up blight removal and transform an antiquated, failing city government. Source Main page (current trends)

More about: City government, debt payments, Detroit emergency manager, Kevyn Orr, Orr: Detroit, painful path, water department

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