Donor Offers $5M To Help Protect Detroit Art
A philanthropist says he's willing to donate $5 million to help protect the Detroit Institute of Arts' collection amid the city's bankruptcy.
A. Paul Schaap tells the Detroit Free Press he hopes to inspire others to give and plans to meet Friday with Detroit's chief federal judge, Gerald Rosen, who is leading mediation sessions.
Schaap says he has to believe that "there are more of us out there who want to do something" but didn't know how. A resident of Grosse Pointe Park, Schaap made millions as a biotechnology entrepreneur.
Detroit's state-appointed emergency manager, Kevyn Orr said Tuesday he doesn't know if the city will try to sell art or come up with another way to raise money off art, which he said cannot solve the city's pension problems.