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Snyder proposes aid for Detroit Institute of Arts, Pension funds

Michigan Governor Rick Snyder talks about the city of Detroit being in a financial emergency state during a meeting with an invited audience
Michigan Governor Rick Snyder talks about the city of Detroit being in a financial emergency state during a meeting with an invited audience

LANSING (WKZO) -- Governor Rick Snyder is reportedly proposing a plan that involves 350-million dollars in state aid for the Detroit Institute of Arts and the city’s two pension funds.  Sources close to the governor say the plan calls for 350-million dollars over 20 years to bolster Detroit’s pension funds and help protect city-owned art from a bankruptcy sale.

According to officials, Snyder met with lawmakers this week and proposed the state match the 330-million dollars that nine private foundations have pledged to keep the DIA’s masterpieces off the auction block.

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