Detroit enclave built on auto industry struggles under $20M water debt

A small Detroit enclave is considering municipal bankruptcy to help rid itself of a water debt that has grown to about $20 million and threatens to swamp the already financially struggling city A small Detroit enclave is considering municipal bankruptcy to help rid itself of a water debt that has grown to about $20 million and threatens to swamp the already financially struggling city

Over 50,000 people lived there in 1930. Homes — elegant and spacious — rivaled some of those built in Detroit. The city is just under 3 square miles and is a shell of its auto baron past, when manufacturing boomed and money flowed. Fewer than 9,000 now call it home. The auto companies are long gone, leaving strip malls and retail shops to bolster the city’s dwindling business tax base.

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Detroit enclave built on auto industry struggles under $20M water debtA small enclave of Detroit is considering municipal bankruptcy to help rid itself of a decades-old water debt that has grown to about $20 million and threatens to swamp the already financially struggling city
Fuente: WOKVNews - 🏆 247. / 63 Leer más »