Image courtesy of Frankdegram / Wikimedia Commons

theartnewspaper.com | Article Link | by Julia Halperin

The collection of the Detroit Institute of Arts (DIA) is inching closer to safety. The Michigan State Legislature agreed yesterday to contribute $350m over the next 20 years to protect the museum’s works of art and shore up Detroit’s ailing pension funds. The state’s governor Rick Snyder is expected to sign the bill, which is part of a package to help settle the city’s bankruptcy, by the end of the week.

“It’s very significant and we’re delighted that the senate decided to move the package forward,” says Annmarie Erickson, the museum’s executive vice president and chief operating officer. “This is the best outcome for the DIA and the pensioners and the city of Detroit in terms of moving the bankruptcy along.” Read more...