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Iron poor; Dispute with steel firm has River Rouge facing bankruptcy.(National Steel Corp.)(Brief Article)
Crain's Detroit Business, August, 2002 by Kosdrosky, Terry
One bankruptcy could beget another if National Steel Corp. and the city of River Rouge don't resolve a property-tax dispute. River Rouge Mayor Greg Joseph said the city faces bankruptcy and a possible state receivership if its largest taxpayer, National Steel's Great Lakes Steel, doesn't pay its property taxes this year.
National Steel filed for Chapter 11 bankruptcy protection March 6 and told the city it won't pay property taxes this year. Great Lakes Steel occupies 1,100 acres in River Rouge and Ecorse. The $3 million it pays River Rouge each year accounts for nearly 30 percent of the city's $11 million budget, enough to fund the police and fire departments for a year. In its court filing, the company argues that the property tax for the 2002-2003...
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