Yesterday, Detroit became the largest municipality in U.S. history to declare bankruptcy. Such an action is unprecedented, so the path forward is murky. Yet one word seems to signify what lies ahead over the next year: battles.
"Detroit on Thursday became the largest American city to file for bankruptcy, a historic move sure to ignite complex battles in coming months with creditors, pensioners and unions who stand to lose significantly as the state tries to rescue a city whose failure Gov. Rick Snyder said was 60 years in the making," report Matt Helms, Nancy Kaffer and Stephen Henderson.
"Bankruptcy and restructuring experts said the filing will initiate a new round of battles in federal court, potentially setting national precedents on matters ranging from whether bondholders get repaid when cities run out of money to whether public pensions, previously thought to be sacrosanct under the Michigan Constitution, are protected in municipal bankruptcies."
"Financially troubled cities around the nation will be watching what happens in the Motor City for lessons that could apply to them."
Nathan Bomey has provided a step-by-step look at what the Chapter 9 process will entail.
FULL STORY: Detroit's bankruptcy to set off pitched battles with creditors, pensions, unions
Inside the Detroit Bankruptcy
On bookshelves today, Detroit Resurrected: To Bankruptcy and Back provides inside baseball details of how the city of Detroit managed to recover from the largest municipal bankruptcy in U.S. history.
Bankruptcy in Detroit—The Tip of the Iceberg
One of the scariest things about Detroit's bankruptcy proceedings is that the fiscal choices that city made has been repeated in many other cities.
Judge Allows Detroit Bankruptcy to Proceed
U.S. Bankruptcy Judge Steven Rhodes ruled today that the city of Detroit is eligible for bankruptcy protection, allowing the city to proceed with the largest municipal bankruptcy in U.S. history. Public employee unions are expected to appeal.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
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Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
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Planetizen
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Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service