Although General Motors already received billions of dollars through the bankruptcy process last year, the Obama administration is proposing to spend another $800 million to clean up GM facilities in 14 states that have since been closed.
According to the White House Council on Automotive Communities and Workers, this proposed fund will help clean up nearly 90 properties that have been abandoned by GM in the wake of bankruptcy. This fund would also mark the largest environmental and economic development effort for any manufacturing sites ever.
Clovis GM Dealers said that most of the money would be used to tear down dozens of vacant building and offices. A large portion of it would also be used to pay for property taxes, demolition costs, plant security and other expenses.
The administration is currently working with states to finalize the plan, but it will ultimately be decided by the U.S. Bankruptcy Court for the Southern District of New York.
* * *
Read more about General Motors and other GMC news right here. Subscribe now.
You must log in to post a comment.