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Under the plan filed last week, that same customer would pay $13.05 plus taxes and fees.
The company had come out of bankruptcy in January, and he was not responsible for the plan filed with the court in November 1998.
The plan filed by Edgar A. Levy was for a 19-story building, soon to be known as 770 Park, which would consist of duplexes with varied layouts.
The plan, filed in United States Bankruptcy Court in Chicago, will reduce the company's debt and trust preferred securities obligations by more than $5 billion.
A hearing on the plan, filed Thursday by the Star Tribune Holdings Corporation, was set for Sept. 17 in United States Bankruptcy Court in New York.
The company, based in Princeton, N.J., will give unsecured creditors, mostly bondholders, equity worth $620 million to $820 million, according to the plan filed in Federal Bankruptcy Court in New York.
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Regulators rejected the plans filed by three of the biggest banks in the country JPMorgan Chase, Bank of America, and Wells Fargo as well as by B.N.Y.
The business plan filed with the application calls for $1.3 billion in annual cuts, with $950 million coming from personnel costs and $350 million from suppliers, said David Castelveter, a company spokesman.
The standpipe was required as part of the demolition plan filed by Bovis Lend Lease.
Mr. Patterson said the reorganization plan filed by PG&E had some positive elements for the utility's creditors.
Approving the bankruptcy plan filed by state-appointed emergency financial manager Kevyn Orr in July, Rhodes said: "The city needs help".
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