Cle Elum is moving to declare bankruptcy. Here's why

‘I don’t have optimism:’ Cle Elum one step closer to declaring bankruptcy

The small town of Cle Elum, Washington is one step closer to declaring bankruptcy after a special meeting and vote by its city council Tuesday night concerning how to manage a recent judgment against them for $22.2 million for failing to make good on land development deal they made with Issaquah-based home building company, City Heights Holdings (CHH), more than a decade ago.

Cle Elum is moving to declare bankruptcy. Here's why

City officials are hoping the bankruptcy process would give the city more control over payment of a $22 million judgment it now owes to City Heights Holdings, LLC.