Millionaire to Give $5M Toward Protecting DIA Art and Detroit Pensions; Who's Next?

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DETROIT FREE PRESS
By John Gallagher

MICHIGAN---A local philanthropist said Thursday he’ll donate $5 million toward protecting the Detroit Institute of Arts’ renowned collection and city retirees’ pensions — and he hopes to inspire others to give. Millionaire A. Paul Schaap said he plans to meet today with U.S. Chief District Judge Gerald Rosen, who is serving as mediator in Detroit’s bankruptcy case. Rosen has been trying to persuade at least 10 charitable foundations to put up $500 million to spin off the DIA from the city, which could then use the money to reduce pension cuts and improve services. [link]

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