August 5, 2013 / 9:29 PM / 4 years ago

Detroit says to start assessing value of city-owned assets

DETROIT, Aug 5 (Reuters) - Detroit officials will begin to assess the value of all city owned assets, including the Detroit-Windsor Tunnel and part of the Detroit Institute of Arts (DIA) collection as part of the city’s efforts to restructure.

“The City must know the current value of all its assets, including the city-owned collection at the DIA,” Emergency Manager Kevyn Orr said in a statement on Monday.

Detroit, which filed for Chapter 9 bankruptcy protection last month, will hire outside experts to value its assets including parking garages, parking meters, real estate and the Coleman A. Young International Airport.

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