JOURNAL ARTICLE

Detroit Marks Bankruptcy Anniversary by Borrowing Big to Tackle Blight.

  • Published In: Bloomberg.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Coleman-Lochner, Lauren 3 of 3

Abstract

(Bloomberg) -- Detroit is poised to mark the 10th anniversary of its historic bankruptcy by tapping the municipal bond market for $100 million of financing, most of which will go toward its program of reviving blighted neighborhoods. In 2020, more than 70% of Detroit voters approved a plan to issue $250 million in debt to renovate and demolish blighted properties, according to an investor presentation for this deal. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2023/07, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2023
  • Accession Number:164900413
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