Friday, January 9, 2015

Detroit hits its grand bargain goal of $100 million for the art museum

DETROIT FREE PRESS
By By Mark Stryker

MICHIGAN---Less than a year after the Detroit Institute of Arts promised to contribute $100 million to the so-called grand bargain rescue fund at the core of the city's bankruptcy restructuring plan, the museum has crossed the finish line. DIA board chair Gene Gargaro said Monday that he reported to Gov. Rick Snyder at the end of December that the museum had reached the present-value equivalent of its pledge to raise $100 million over 20 years. [link]