Donor Pledges $5 Million to Protect Detroit Art, Pensions
Drop, meet bucket
DETROIT — 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 Friday 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.