Detroit Institute of Arts set to make major announcement Monday

Sources say Detroit's automakers will make major donation in tens of millions of dollars

By Mara MacDonald - Reporter

DETROIT - The Detroit Institute of Arts is set to make a major announcement Monday. Officials are being tight-lipped on what it is, but sources close to the museum confirm for Local 4 that Detroit's automakers will make a major donation in the tens of millions of dollars.

When it became clear the treasures that line the walls of the DIA were in peril and were assets that could be sold off in bankruptcy to help ease the sting to creditors, the museum sprang into action.

It's already come up with commitments from multiple foundations to the tune of more than $350 million to get the collection off the table.

Then Gov. Rick Snyder said it needed to come up with $100 million more over the next 20 years.

Enter the ongoing talks with Detroit's automakers, who sources told Local 4 will be stepping up with a quarter of the money that's needed.

Those close to the process said DIA leaders have reached out to the business community to help fill the rest of the hole and, while raising money of this magnitude is certainly not easy, they're feeling hopeful and confident it can be done.

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