The Detroit Institute of Arts has asked General Motors, Ford and Chrysler to contribute funds for the so-called "Grand Bargain."
The deal, involving Detroit retirees, the state, and the DIA, would seek to protect retiree pensions from severe cuts, and the DIA's artworks from sale.
State legislators this week are mulling their part – $194 million (or $350, in installments).
Philanthropic groups would also contribute.
The Detroit Institute of Arts would have to raise $100 million.
The DIA must be central to any plans for a revitalized Detroit. Both GM and the GM Foundation are giving very careful consideration to how we can help preserve this treasure at such a critical time.
Ford has been a long-time supporter of the DIA and its contributions to southeast Michigan. We are having confidential discussions with the DIA and are considering the matter very carefully.”
Chrysler Group is committed to playing a positive role in Detroit's revitalization. Accordingly, we are reviewing the DIA's request."
The Grand Bargain would not completely preserve Detroit city retiree pensions. Many have been asked to vote to approve a 4.5% cut.