Detroit’s New Plan of Adjustment

March 31st, 2014

The city today filed its amended Plan of Adjustment and Disclosure Statement, promising it would again modify the documents by April 14.

In a statement to media, Emergency Manager Kevyn Orr says “The City continues to make progress with its creditors and retirees and hopes to reach agreement in the near term on a number of outstanding issues. … We believe that the Plan we have proposed, and continue to refine, is feasible and allows the City to reduce its staggering $18 billion in debt and live within its means. The Plan puts the focus back on providing essential public services to the City’s nearly 700,000 residents.”

Here is the Plan:

 

Amended Plan of Adjustment 3.31.2014