DOCSLIB.ORG

5461 Filed 06/19/14 Entered 06/19/14 16:52:44 Page 1 of 30 the "Assumed Leases").2 in Support of This Motion, the City Respectfully Represents As Follows

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
5461 Filed 06/19/14 Entered 06/19/14 16:52:44 Page 1 of 30 the UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION -----------------------------------------------------x : In re : Chapter 9 : CITY OF DETROIT, MICHIGAN, : Case No. 13-53846 : Debtor. : Hon. Steven W. Rhodes : -----------------------------------------------------x MOTION OF THE CITY OF DETROIT, PURSUANT TO SECTION 365 OF THE BANKRUPTCY CODE, FOR AN ORDER AUTHORIZING THE CITY TO ASSUME CERTAIN UNEXPIRED LEASES OF NONRESIDENTIAL REAL PROPERTY The City of Detroit, Michigan (the "City") hereby files this motion ("Motion"), pursuant to section 365 of title 11 of the United States Code (the "Bankruptcy Code"), for the entry of an order1 authorizing the City to assume certain of its unexpired leases of nonresidential real property (such leases, including all exhibits, amendments, supplements or modifications thereto, 1 This Motion includes certain attachments that are labeled in accordance with Rule 9014-1(b)(1) of the Local Rules of the Bankruptcy Court for the Eastern District of Michigan (the "Local Rules"). Consistent with Local Rule 9014-1(b), a copy of the proposed form of order granting this Motion is attached hereto as Exhibit 1 (the "Proposed Order"). A summary identifying each included attachment by exhibit number is appended to this Motion. CHI-1933539v1 13-53846-swr Doc 5461 Filed 06/19/14 Entered 06/19/14 16:52:44 Page 1 of 30 the "Assumed Leases").2 In support of this Motion, the City respectfully represents as follows: Jurisdiction 1. This Court has jurisdiction over this Motion pursuant to 28 U.S.C. § 1334. This is a core proceeding pursuant to 28 U.S.C. § 157(b). Venue is proper before this Court pursuant to 28 U.S.C. §§ 1408 and 1409. Background 2. On July 18, 2013 (the "Petition Date"), the City filed a petition for relief in this Court, thereby commencing the largest chapter 9 case in history. 3. On December 5, 2013, this Court determined that the City was eligible to be a debtor under chapter 9 of the Bankruptcy Code. See Order for Relief Under Chapter 9 of the Bankruptcy Code (Docket No. 1946) (the "Order for Relief"). A thorough description of the City's economic decline, the challenges it faces and the events leading up to the filing of this case can be found in the Declaration of Kevyn D. Orr in Support of City of Detroit, Michigan's Statement of 2 A list of the Assumed Leases is attached hereto as Exhibit 6. For each Assumed Lease, Exhibit 6 includes: (a) the location of the property subject to the Assumed Lease; (b) the name and address of the lessor for the Assumed Lease; (c) a description of the use of the leased property; and (d) the proposed cure amount associated with the assumption of such lease, if any. The terms of the Assumed Leases summarized in Exhibit 6 are provided for convenience only and are not intended to modify, or to represent the City's interpretation of, the terms of any Assumed Lease. CHI-1933539v1 -2- 13-53846-swr Doc 5461 Filed 06/19/14 Entered 06/19/14 16:52:44 Page 2 of 30 Qualifications Pursuant to Section 109(c) of the Bankruptcy Code (Docket No. 11) and the Disclosure Statement (as defined below). 4. On March 19, 2014, the City filed the Motion of the City of Detroit for Entry of an Order Extending the Time to Assume or Reject Unexpired Leases of Nonresidential Real Property, Pursuant to Section 365(d)(4) of the Bankruptcy Code (Docket #3079) (the "Motion to Extend"). Pursuant to the Motion to Extend, the City sought an extension of an additional 90 days — until July 2, 2014 (the "Extended Rejection Deadline") — to determine whether to assume or reject its unexpired leases of nonresidential real property (any such lease, an "Unexpired Lease"). The Motion to Extend was approved by this Court by an order entered on March 26, 2014 (Docket No. 3233) (the "Extension Order").3 3 Pursuant to the Extension Order and consistent with section 365(d)(4)(B)(ii) of the Bankruptcy Code, the City is authorized to further extend the assumption/rejection period beyond July 2, 2014 without further order of the Court, but with the written consent of the affected lessor. The City has received such consent from each of its landlords affected by the Extension Order — other than the lessors under the Assumed Leases — and will file a notice of these extensions in compliance with the Extension Order prior to the Extended Rejection Deadline. By filing this Motion, the City has satisfied the deadline of section 365(d)(4) of the Bankruptcy Code with respect to the Assumed Leases, which will not be deemed rejected pending the Court's consideration of this Motion. See Cousins Props., Inc. v. Treasure Isles HC, Inc. (In re Treasure Isles HC, Inc.), 462 B.R. 645, 649-50 (6th Cir. B.A.P. 2011); In re Filene's Basement, LLC, Case No. 11-1351, 2014 BL 119427 (Bankr. D. Del. Apr. 29, 2014). CHI-1933539v1 -3- 13-53846-swr Doc 5461 Filed 06/19/14 Entered 06/19/14 16:52:44 Page 3 of 30 5. On May 5, 2014, the City filed the Fourth Amended Plan for the Adjustment of Debts of the City of Detroit (Docket No. 4392) (as it may be further amended, modified or supplemented from time to time, the "Plan") and the Fourth Amended Disclosure Statement with Respect to Fourth Amended Plan for the Adjustment of Debts of the City of Detroit (Docket No. 4391) (the "Disclosure Statement"). That same day, the Court entered the Order Approving the Proposed Disclosure Statement (Docket No. 4401), thereby approving the Disclosure Statement as containing "adequate information" with respect to the Plan, pursuant to section 1125(a)(1) of the Bankruptcy Code. Relief Requested 6. Pursuant to section 365 of the Bankruptcy Code and Rule 6006 of the Federal Rules of Bankruptcy Procedure (the "Bankruptcy Rules"), the City hereby seeks the entry of an order authorizing the City to assume the Assumed Leases and granting related relief. 4 Basis for Relief 7. Section 365 of the Bankruptcy Code provides the statutory basis pursuant to which debtors may assume or reject executory contracts or unexpired leases, and states, in relevant part: 4 Pursuant to Bankruptcy Rule 6006(e)(2), the City may file an omnibus motion seeking assumption of multiple unexpired leases. CHI-1933539v1 -4- 13-53846-swr Doc 5461 Filed 06/19/14 Entered 06/19/14 16:52:44 Page 4 of 30 (a) Except as provided . in subsections (b), (c), and (d) of this section, the [debtor], subject to the court's approval, may assume or reject any executory contract or unexpired lease of the debtor. (b)(1) If there has been a default in an executory contract or unexpired lease of the debtor, the [debtor] may not assume such contract or lease unless, at the time of assumption of such contract or lease, the [debtor] — (A) cures, or provides adequate assurance that the [debtor] will promptly cure, such default…. 11 U.S.C. § 365. Section 365 is incorporated into chapter 9 pursuant to section 901(a) of the Bankruptcy Code. 8. Courts routinely approve motions to assume or reject executory contracts or unexpired leases upon a showing that the debtor's decision to take such action is an exercise of sound business judgment. See Orion Pictures Corp. v. Showtime Networks, Inc. (In re Orion Pictures Corp.), 4 F.3d 1095, 1099 (2d Cir. 1993) (stating that section 365 of the Bankruptcy Code "permits the trustee or debtor-in-possession, subject to the approval of the bankruptcy court, to go through the inventory of executory contracts of the debtor and decide which ones it would be beneficial to adhere to and which ones it would be beneficial to reject"); In re JRT, Inc., 121 B.R. 314, 321 (Bankr. W.D. Mich. 1990) (utilizing the business judgment rule to determine whether a contract should be assumed or rejected); In re McLouth Steel Corp., 20 B.R. 688, 692 (Bankr. E.D. Mich. 1982) CHI-1933539v1 -5- 13-53846-swr Doc 5461 Filed 06/19/14 Entered 06/19/14 16:52:44 Page 5 of 30 ("In determining whether a certain contract should be assumed or rejected, the decision should rest on the business judgment of the debtor."); see also NLRB v. Bildisco & Bildisco, 465 U.S. 513, 523 (1984) (stating that the traditional standard applied by courts under section 365 is that of "business judgment"). 9. Courts generally will not second-guess a debtor's business judgment concerning the assumption or rejection of an executory contract or unexpired lease. See In re Riodizio, Inc., 204 B.R. 417, 424 (Bankr. S.D.N.Y. 1997) ("[A] court will ordinarily defer to the business judgment of the debtor's management."); accord Phar-Mor, Inc. v. Strouss Bldg. Assocs., 204 B.R. 948, 951-52 (Bankr. N.D. Ohio 1997) ("Whether an executory contract is 'favorable' or 'unfavorable' is left to the sound business judgment of the debtor . Courts should generally defer to a debtor's decision whether to reject an executory contract."). 10. The "business judgment" test is not a strict standard; it merely requires a showing that either assumption or rejection of the executory contract or unexpired lease will benefit the debtor. See, e.g., Westbury Real Estate Ventures, Inc. v. Bradlees, Inc. (In re Bradlees Stores, Inc.), 194 B.R. 555, 558 n.1 (Bankr. S.D.N.Y. 1996) ("In reviewing a debtor's decision to assume or reject an executory contract, the court must examine the contract and circumstances and CHI-1933539v1 -6- 13-53846-swr Doc 5461 Filed 06/19/14 Entered 06/19/14 16:52:44 Page 6 of 30 apply its best 'business judgment' to determine if the assumption or rejection would be beneficial or burdensome to the estate.").
Load more

Recommended publications
  • 2018 Downtown Detroit Development Update
    2018 DOWNTOWN DETROIT DEVELOPMENT UPDATE MACK MARTIN LUTHER KING JR. N Q I-75 BRUSH GRAND RIVER Little Caesars Arena TABLE OF CONTENTS FISHER FWY I-75 A B C CASS J Fox Theatre WOODWARD Comerica 4 5 6 6 7 CLIFFORD O Park The Fillmore Ford Introduction Development 139 Cadillac 220 West The 607 3RD Field Overview Square MGM Grand Casino ADAMS GRAND CIRCUS PARK D E F G H BEACON PARK G MADISON S K U 7 8 8 9 9 The 751/ 1515-1529 Church of City Club David Stott BAGLEY GRATIOT BROADWAY Marx Moda Woodward Scientology Apartments Building E CBD Detroit WOODWARD WASHINGTON T MICHIGAN AVE. P I-375 I J K L M STATE L Greektown CAPITOL PARK N Casino Hotel 3RD GRATIOT 10 10 11 11 12 1ST Westin BRUSH Detroit Free Detroit Life Element Detroit at The Farwell Gabriel Houze Greektown Press Building Building the Metropolitan Building R Casino M H Building D MONROE LAFAYETTE BEAUBIEN W LAFAYETTE CAMPUS MARTIUS PARK N O P Q R I A W FORT CADILLAC SQUARE 12 13 13 14 14 CONGRESS B THE WOODWARD Hudson’s Little Caesars Louis Kamper and Mike Ilitch One Campus ESPLANADE RANDOLPH Block and Tower World Headquarters Stevens Buildings School of Business Martius Expansion M-10 W CONGRESS C Campus Expansion LARNED W LARNED JEFFERSON SPIRIT PLAZA JEFFERSON S T U Cobo F Center 15 15 15 16-19 20-21 Philip Shinola Siren Special Feature: Public Infrastructure HART Renaissance Capitol Park Projects PLAZA Center Houze Hotel Hotel About The 2018 Development Update 22-23 24 Featured Building Developments Pipeline Methodology Development Project: MoGo Station Developments New Construction and Major Renovation Other Downtown Developments QLINE Park/Public Space The District Detroit Business Improvement Zone (BIZ) Area Bike Lane TOTAL FLOOR AREA TOTAL DOLLARS INVESTED BEING DEVELOPED IN PROJECTS IN REPORT 3,548,988 $1.54 billion square-feet invested $1.179 billion 1,815,000 sq.
    [Show full text]
  • Detroit First Quarter 2003 A
    NATIONAL REAL ESTATE INDEX M M ETRO Detroit ETRO Vol. 37 First Quarter 2003 M M ARKET ARKET Analyzes: Reports: CBD Office Property Prices Retail Property Rents Apartments Sector Forecasts Suburban Office Demographic Highlights Industrial Job Formation Trends Local Economy Economic Base Profile Educational Achievement F Tax Structure F Quality of Life Factors ACTS ACTS A publication of the National Real Estate Index PPR GlobalGlobal RealReal AnalyticsAnalytics Detroit Vol. 37 ✯ Report Format This report is organized as follows. Section I A series of other important factors, including provides a snapshot that highlights the key eco- retail sales trends and international trade, are nomic, demographic and real estate-related reported in Section VI. Local and state fiscal findings of the study. Sections II through IX policies, including taxes and federal spending, provide an in-depth look (generally in a tabular are highlighted in Section VII. Several key qual- format) at the key economic, demographic, ity-of-life considerations are summarized in public policy, and quality of life factors that can Section VIII. affect the demand for real estate. In Section IX, local market price, rent and capi- In Section II, recent population trends are talization rate trends for the preceding 12 months reported. Section III analyzes the local eco- are reported. Section X provides a quarterly nomic base and current labor force and job for- review, including analysis of the local economy, mation trends. Various educational costs and as well as analyses of the office, light industrial, parameters are provided in Section IV. Local liv- retail, apartment, and hospitality sectors. ing costs are explored in Section V.
    [Show full text]
  • Commissioning Projects
    FIRST DRAFT Peter Basso Associates Commissioning and Retro- Commissioning Projects This is a comprehensive listing of projects for which Peter Basso Associates has provided commissioning and retro-commissioning services, as of June 12, 2019. 150 West Jefferson LEED Interiors EA Pr1&EA Cr2 Bedrock Detroit Monroe Block A Initial Services Commissioning, Detroit, Michigan Commissioning, Detroit, Michigan 615 Griswold MEP DD 2016 Update Commissioning, Bedrock Detroit One Campus Martius Nexant/DTE Energy Detroit, Michigan Retro-Commissioning, Detroit, Michigan Adient CTU Bulding Renovation Commissioning, Bedrock Detroit Quicken Loans Data Center Additional Retro- Plymouth, Michigan Commissioning, Detroit, Michigan Affirmations Lesbian & Gay Community Center Bell Memorial Replacement Hospital Mechanical/Electrical Commissioning, Ferndale, Michigan Michigan Ascension Real Estate Facility Condition Assessment Systems Commissioning Manual Production, Ishpeming, Commissioning, Burton, Ohio Bloomfield Hills School District High School and Physical Plant Commissioning, Bloomfield Hills, Michigan Auto Owners Insurance Company South Carolina Regional Office Building Commissioning, Columbia, South Carolina Blue Cross Blue Shield of Michigan Lyon Meadows Conference Center Commissioning, New Hudson, Michigan Auto-Owner’s Insurance Company Branch Office Commissioning, Traverse City, Michigan Boll Family YMCA Nexant/DTE Energy Retro-Commissioning Lite, Detroit, Michigan Beaumont Health Beaumont Cancer & Breast Center- Farmington Hills Generator Commissioning,
    [Show full text]
  • Detroit's Future: Real Estate As a Key Driver
    Detroit’s Future: Real Estate as a Key Driver Disclaimer: Although Todd Sachse, Sachse Construction, and Broder & Sachse Real Estate (“The Presenter”) has no reason to doubt the reliability of the sources from which it has obtained the information for this presentation, The Presenter does not intend for any person or entity to rely on any such information, opinions, or ideas, and cannot guarantee the accuracy or completeness of this presentation. Nothing in this presentation shall be taken and relied upon as if it is individual investment, legal, or tax advice. The Presenter does not assume any liability or responsibility for any loss to any person or entity that may result from any act or omission by such person or entity, or by any other person or entity, based upon any material from The Presenter and the information, opinions, or ideas expressed. The Presenter urges prospective investors to not place undue reliance on information contained in this document, and to independently verify the information contained in this report. THE WHAT ▪ Over 26 years of experience in Construction Management ▪ Headquartered in Detroit, Michigan ▪ Over 200 projects completed in Detroit in the last six years ▪ Contracts exceeding $500,000,000 in Detroit projects ▪ Completed more than 3,000,000 square feet of work in Detroit ▪ Over 25 years of real estate experience ▪ Developments exceeding $100,000,000 in Detroit ▪ Over $150,000,000 in our Detroit development pipeline WHAT WAS: OUR HISTORY “You have to know the past to understand the present.” - CARL SAGAN (ASTROPHYSICIST) DETROIT: POPULATION OVER THE YEARS DETROIT: OUR HISTORY 1900 Industrial Age in Detroit Detroit is the leading manufacturer of heating and cooking stoves, ship building, cigars and tobacco, beer, rail cars, and foundry and machine shop products.
    [Show full text]
  • Bedrock Welcomes New Additions to Leadership Team, Names Matt Cullen As Chief Executive Officer, Mark Dunkeson As President and Chief Operating Officer
    FOR IMMEDIATE RELEASE CONTACT: Whitney Eichinger, Bedrock 313.300.9233 [email protected] BEDROCK WELCOMES NEW ADDITIONS TO LEADERSHIP TEAM, NAMES MATT CULLEN AS CHIEF EXECUTIVE OFFICER, MARK DUNKESON AS PRESIDENT AND CHIEF OPERATING OFFICER • Four additional key leaders from JACK Entertainment to Join the Bedrock team later this year • Bill Emerson to continue his role as Vice Chairman of Quicken Loans and Rock Holdings CLICK HERE TO DOWNLOAD HIGH RESOLUTION HEADSHOTS August 29, 2019 [DETROIT] – Bedrock is pleased to announce today a series of leadership changes that will position the company for its next chapter of growth. Effective September 1, Matt Cullen will be joining Bedrock as Chief Executive Officer and Mark Dunkeson will be joining as President and Chief Operating Officer. Cullen and Dunkeson have led JACK Entertainment (“JACK”), a casino gaming and racino company, which owns and operates properties in the Midwest, and will be expanding their role as key leaders within the Rock Family of Companies. Cullen will continue to serve as Chairman of the Board for JACK. Dunkeson will hold the position of Chief Executive Officer of JACK and remain a member of the Board of Directors. “It is an incredible honor to begin working with the 600-plus passionate team members at Bedrock who, in just eight short years, have played such a significant role in driving Detroit’s new era of optimism and growth,” said Cullen. “With transformational developments currently underway throughout the city, and more big projects on the horizon, Bedrock will continue to be an engine for Detroit’s resurgence, and I am excited about being a part of that.” Prior to JACK Entertainment, Cullen spent 29 years at General Motors (“GM”), where he was general manager of economic development and enterprise services.
    [Show full text]
  • 150 West Jefferson | Stacking Plan
    150Detroit, MichiganWest Jefferson Magnificent, Class A Office Building with Spectacular Skyline and Waterfront Views Office and Retail Space Available in the Financial District’s Premier Location • 2,961 SF – 62,574 SF office space available • 1,679 SF ground level retail space available • 3,152 SF restaurant location available on ground floor with liquor license available • Outstanding location with views of the city, the waterfront, and the city of Windsor • Home to the Financial District People Mover stop • 500,000 SF Class A landmark building • Outstanding amenities and services include a fitness center, beautiful outdoor patio with putting green, restaurants, carry-out deli, ATM, dry cleaning services, and 24-hour security • 526 space parking garage offering valet and self- park services • Convenient access to Campus Martius, Renaissance Center, COBO Center, and the Congress Station stop of the Q-Line • Energy Star certified • Managed by REDICO For more information, please contact: Garrett Keais Jarrod Champine Mike Spisak 27777 Franklin Road, Suite 1050 Managing Principal Senior Associate Associate Southfield, MI 48034 +1 248 358 6112 +1 248 358 6111 +1 248 358 6116 +1 248 358 6100 [email protected] [email protected] [email protected] cushmanwakefield.com Cushman & Wakefield Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
    [Show full text]
  • City of Detroit Bankruptcy Plan of Adjustment
    THE BANKRUPTCY COURT HAS NOT APPROVED THE PROPOSED DISCLOSURE STATEMENT TO ACCOMPANY THIS PLAN. THE DISTRIBUTION OF THIS PLAN AND THE DISCLOSURE STATEMENT IS NOT INTENDED TO BE, AND SHOULD NOT BE CONSTRUED AS, A SOLICITATION OF VOTES ON THIS PLAN. THE CITY OF DETROIT, MICHIGAN RESERVES THE RIGHT TO MODIFY, AMEND, SUPPLEMENT, RESTATE OR WITHDRAW THIS PLAN, THE DISCLOSURE STATEMENT AND ALL ANCILLARY DOCUMENTS AT ANY TIME. UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MICHIGAN ------------------------------------------------------------ x : In re : Chapter 9 : CITY OF DETROIT, MICHIGAN, : Case No. 13-53846 : Debtor. : Hon. Steven W. Rhodes : : ------------------------------------------------------------ x PLAN FOR THE ADJUSTMENT OF DEBTS OF THE CITY OF DETROIT (February 21, 2014) DAVID G. HEIMAN BRUCE BENNETT JONATHAN S. GREEN HEATHER LENNOX JONES DAY STEPHEN S. LAPLANTE THOMAS A. WILSON 555 South Flower Street MILLER, CANFIELD, JONES DAY Fiftieth Floor PADDOCK AND STONE, P.L.C. North Point Los Angeles, California 90071 150 West Jefferson 901 Lakeside Avenue Telephone: (213) 489-3939 Suite 2500 Cleveland, Ohio 44114 Facsimile: (213) 243-2539 Detroit, Michigan 48226 Telephone: (216) 586-3939 [email protected] Telephone: (313) 963-6420 Facsimile: (216) 579-0212 Facsimile: (313) 496-7500 [email protected] [email protected] [email protected] [email protected] ATTORNEYS FOR THE DEBTOR 13-53846-swr Doc 2708 Filed 02/21/14 Entered 02/21/14 10:55:20 Page 1 of 120 TABLE OF CONTENTS ARTICLE I DEFINED TERMS, RULES OF INTERPRETATION AND COMPUTATION OF TIME .................. 1 A. Defined Terms. ............................................................................................................................... 1 B. Rules of Interpretation and Computation of Time. ....................................................................... 21 1. Rules of Interpretation. ................................................................................................... 21 2.
    [Show full text]
  • Explore Detroit with the Rock Family of Companies by Joining Us On
    Explore Detroit with the Rock Family of Companies by joining us on our exclusive Downtown Detroit Tour Experience! While Detroit continues to gain positive traction from the media, business and community leaders from around the globe, we invite you to come see what the hype is all about. Get a behind the scenes look at the revitalization happening in Detroit’s Central Business District. With 100+ properties encompassing over 16 million square feet of space, it’s time to turn to the next chapter and experience something so special that you won’t be able to explain what you saw! Tour stops may include: One Campus Martius (formerly Compuware Building) — Headquarters to Quicken Loans, Meridian Health, & Microsoft; capture a clear snapshot of our vision & mission in Downtown Detroit First National Building — Highlighting the renovation of historic buildings complete with “destination” retail, FNB is truly a work of art Chase Tower (The Qube) — The heartbeat of Quicken Loans, get an inspiring look at a roaring, energy-filled workspace Chrysler House — Home to dPOP, our commercial interior design firm, explore the creation of collaborative workspaces filled with intricate and unique designs Woodward Developments — Tread the path of emerging developments along the Woodward retail corridor such as the iconic Hudson’s site and the first Shinola Hotel Madison Block — Visit the epicenter of Detroit’s tech hub and startup incubator The Belt/The Z — A series of installations from international artists that has become home to Detroit’s booming creative scene and nightlife.
    [Show full text]
  • Pari Passu Loans in Cmbs 2.0 Last Updated: January 5, 2018
    PARI PASSU LOANS IN CMBS 2.0 LAST UPDATED: JANUARY 5, 2018 % of % of Has Issuance Issuance Cut-Off Pari Master Special Master Special B DBRS Property State or Origination Trust Whole-Loan Balance at Passu Pari Passu Servicer Servicer Servicer Servicer Number note Rated Property Name Deal Name Type Country City Province Year Balance Balance Issuance in Deal Piece (Loan) (Loan) (Transaction) (Transaction) 1 no 111 Livingston Street CD 2017-CD3 Office US Brooklyn NY 2017 67,000,000 120,000,000 5.05% 55.83% A-1, A-3 Midland Midland Midland Midland 1 no 111 Livingston Street CGCMT 2017-P7 Office US Brooklyn NY 2017 29,000,000 120,000,000 2.83% 24.17% A-2 Midland Midland Wells Fargo Rialto 1 yes 111 Livingston Street CD 2017-CD4 Office US Brooklyn NY 2017 24,000,000 120,000,000 2.67% 20.00% A-4 Midland Midland Midland Rialto 2 yes 1155 Northern Boulevard PFP 2017-4 Office US Manhasset NY 2017 9,523,109 11,630,063 1.46% 81.88% N/A Wells Fargo Wells Fargo Wells Fargo Wells Fargo 1166 Avenue of the 3 yes yes BBCMS 2017-C1 Office US New York NY 2017 56,250,000 110,000,000 6.57% 66.18% A-1 Wells Fargo Rialto Wells Fargo Rialto Americas 1166 Avenue of the 3 yes yes WFCM 2017-RB1 Office US New York NY 2017 28,750,000 110,000,000 4.51% 33.82% A-2 Wells Fargo Rialto Wells Fargo C-III Americas 4 yes 123 William Street WFCM 2017-RB1 Office US New York NY 2017 62,500,000 140,000,000 9.80% 44.64% A-1 Wells Fargo C-III Wells Fargo C-III 4 yes 123 William Street MSC 2017-H1 Office US New York NY 2017 50,000,000 140,000,000 4.59% 35.71% A-2 Wells Fargo C-III
    [Show full text]
  • UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT of MICHIGAN SOUTHERN DIVISION in Re CITY of DETROIT, MICHIGAN Debtor. Chapter 9
    UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION In re Chapter 9 CITY OF DETROIT, MICHIGAN Case No. 13-53846 Debtor. CERTIFICATE OF SERVICE I, William W. Kannel, do hereby certify that on the 2nd day of August 2013, I caused a copy of the Verified Statement of Mintz Levin Cohn Ferris Glovsky and Popeo, PC and Andrew J. Gerdes, P.L.C. Pursuant to Federal Rule of Bankruptcy Procedure 2019(a), to be served upon the parties at their respective addresses set forth on Exhibit A hereto through the Court’s ECF system, and that copies will be sent electronically to registered participants as identified on the Notice of Electronic Filing (NEF) and paper copies will be sent to those indicated as non- registered participants as of the date herein. Dated: August 2, 2013 /s/ William W. Kannel William W. Kannel, Esq. 1 13-53846-swr Doc 272-1 Filed 08/02/13 Entered 08/02/13 15:01:57 Page 1 of 9 Exhibit A AFSCME Council #25 AFSCME Council #25 Attn: Albert Garrett Attn: Ed McNeil 1034 N. Washington 600 W. Lafayette, Ste. 500 Lansing, MI 48906 Detroit, MI 48226 AFSCME Council #25 AFSCME Council #25 AFSCME Local # 6087 Attn: Catherine Phillips Attn: DeAngelo Malcolm Attn: Clarence Sanders 600 W. Lafayette, Ste. 500 600 W. Lafayette, Ste. 500 2633 Michigan Avenue Detroit, MI 48226 Detroit, MI 48226 Detroit, MI 48216 AFSCME Local #0023 AFSCME Local #0062 AFSCME Local #0207 Attn: Robert Stokes Attn: Lacydia Moore-Reese Attn: James Williams 600 W. Lafayette, Ste. 134 600 W.
    [Show full text]
  • Downtown Detroit Business Improvement Zone
    BUSINESS IMPROVEMENT ZONE 2016-2017 ANNUAL REPORT DOWNTOWN DETROIT BUSINESS IMPROVEMENT ZONE LETTER FROM THE BOARD CHAIR LETTER FROM THE BIZ DIRECTOR As the Downtown Detroit Business Improvement Zone The Downtown Business Improvement Zone (BIZ) has celebrates its third anniversary, Downtown’s popularity created substantial improvements in the ever changing continues to rise and public perceptions about the quality environment of the Downtown, since the inception in of the services provided by the BIZ are positive. 2014. With the critical responsibility to create a vibrant Downtown, the BIZ oversees multiple supplemental Property owners contribute Enjoy new public spaces at Gratiot and about $4 million annually to Randolph and the Woodward Esplanade, services and resources for over 140 blocks and 550 augment city services and maintained by the BIZ. Know that the BIZ is establish a high level of quality in supporting public safety efforts by increasing properties, guided by the leadership of the volunteer BIZ priority service areas: safety and security in public spaces, including a new night board of directors that cover all corners and sectors of security, cleaning and hospitality, patrol vehicle equipped with a Lighthouse infrastructure planning, street and radio to communicate directly with the Detroit Downtown. parks landscape maintenance, Police Department. The work of the BIZ Downtown marketing and helps foster an increasingly clean, safe and The BIZ team consists of dedicated During the BIZ fiscal year business outreach. The BIZ has welcoming Downtown Detroit. individuals, who day in and day out, care beginning on July 1, 2016 and become an integral element of for our community.
    [Show full text]
  • Public Lighting Depa,Rtment Capital
    (J PUBLIC LIGHTING DEPA,RTMENT CAPITAL 0 u Public Lighting Department AGENCY MISSION The mission of the Public Lighting Department (PLD) is to support the Public Lighting Authority (PLA) as it maintains the upgraded street light system. PLD works with TMC Alliance and DTE Energy (DTE) to assure the safety of the general public and to provide reliable power to customers through the City's distribution system as the City assists with converting customers to DTE's system. On February 5, 2013, the PLA was created pursuant to Public Act 392 of 2012. The PLA is separate municipal authority with the mission to improve, modernize and maintain the street lighting infrastructure in the City of Detroit with brighter, more reliable, more energy efficient lights. It is a completely separate legal entity from the City of Detroit. In 2014, the PLA issued debt obligations of$185 million to fund street lighting improvements. Pursuant to Public Act 392 of 2012, Utility Users' taxes of $12.5 million annually will be utilized to repay this debt issue. Through an inter-local agreement, the City provides additional funds to the PLA to finance the operations and maintenance of the lighting system. On July 1, 2014 the City entered into the Energy Delivery Services Agreement (EDSA) with DTE to transition electric customers to DTE. The agreement stipulates the City will allow PLD customers to become DTE customers and that the City will exit the electric business over a five to seven year period. During this transition period, the City, through its contraccqr will operate and maintain the electric grid with DTE reimbursing the City and its contractor for all expenses related to the delivery of electrical power.
    [Show full text]