The Detroit Institute of Arts (DIA) has pledged to raise $100 million for the federally mediated rescue fund to shore up municipal pensions, prevent the forced sale of any of the museum’s irreplaceable masterpieces and spin off the city-owned museum to an independent nonprofit, the Detroit Free Press reported today. The commitment was announced in a statement by Chief U.S. District Judge Gerald Rosen, which was followed a short while later by a statement from the DIA, which said that its board of directors approved a commitment by the DIA to raise $100 million from corporate and individual donors toward these efforts. According to the DIA’s statement, the City of Detroit will transfer to the DIA “free and clear legal title to the museum building, the art collection and all related assets.”
