Detroit Nears Pension Cuts Deal that Could Spin Off Detroit Institute of Arts

April 15th, 2014

The City of Detroit is nearing a pension cuts deal which may allow the Detroit Institute of Arts to spin off from city ownership, provided state funding, foundation contributions and Detroit Institute of Arts fund-raising would provide $816 million to reduce potential cuts to city pensions.  The city is sell engaged with talks with representatives from the city’s largest pension funds.

Read more at Detroit Free Press