Foundations Keep Detroit Art Off The Auction Block

In Detroit, a group of local and national foundations has pledged more than $330 million to keep the city from auctioning off assets from the Detroit Institute of Art. The purpose of the deal is twofold: to preserve the collection and to raise money for the city's underfunded pension plans.

Source: http://www.npr.org/2014/01/13/262185978/foundations-keep-detroit-art-off-the-auction-block?ft=1&f=1008

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