Detroit-owned real estate worth $1B, financial creditor argues
By Nathan Bomey, Detroit Free Press | |
McClatchy-Tribune Information Services |
That includes properties assessed at
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In a separate report, an art consultant hired by
The city will lean on its own expert reports and witnesses in a bid to convince Judge
Rhodes will consider the evidence during a massive bankruptcy trial scheduled to begin
In the
"Recent home sales suggest a prospective resurgence in property values that could further increase value realization, substantiating the possibility that significant long-term value may be potentially realized in connection with the City's real estate holdings," Spencer wrote.
The assessment conflicts with Ernst & Young consultant
"Based on historical data showing how the city came out of past recessions, the evidence does not support a quick rebound," Sallee concluded in a report delivered for the
But he noted that
"Because
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