In bankruptcy and looking for cash, Detroit would like to lease its water utility to raise as much as $9 billion to fund basic services long term, but talks with neighboring suburban counties are stalled, Reuters reported today. County officials say that they are stuck over the price tag and estimates of repair costs, likely delaying plans by Detroit's emergency manager to deliver a financial restructuring plan early next month. Detroit Emergency Manager Kevyn Orr set a deadline of Dec. 20 to reach a water deal, which would help meet a self-imposed early January date for filing a plan to bring Detroit out of bankruptcy — well ahead of a March 1 requirement set by U.S. Bankruptcy Judge Steven Rhodes. A key sticking point is the estimate of what it would cost to repair or replace underground pipes and other Detroit Water and Sewerage Department infrastructure.
