For Sale in Pontiac, Mich: Pretty Much Everything
Reeling city puts almost all public assets up for sale
By John Johnson,  Newser Staff
Posted Dec 21, 2011 1:03 PM CST
The GM Pontiac assembly plant in Pontiac, Michigan, in a file photo. The city's auto-fueled boom years are long ago.   (Getty Images)

(Newser) – Pontiac, Michigan, is having a fire sale to raise desperately needed money. Up for sale is city hall, the police station, the library, cemeteries, golf courses, and on and on—just about every public asset, reports the Detroit Free Press. Pontiac has slashed its budget from $58 million to $38 million since an emergency planner took over in 2009, but it still has a $12 million shortfall.

Even worse: All of this might be a sign of what's in store on a much larger scale for Detroit, which must cut $330 million from a $1.2 billion budget, notes the Free Press. One thing not for sale in Pontiac, by the way: the Silverdome where the Detroit Lions once played. Pontiac turned down a $20 million offer in 2005, only to sell the stadium at auction for $583,000 in 2009.
 

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