Kellogg Foundation to help in Detroit bankruptcy


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DETROIT (AP) - The W.K. Kellogg Foundation is giving $40 million to prevent the sale of Detroit art and help city retirees, raising the pool of money to $370 million.

The announcement was made Tuesday by a coalition of foundations. The group wants to continue to attract financial support from foundations and individuals while Michigan Gov. Rick Snyder tries to win approval for $350 million from the state.

City-owned art at the Detroit Institute of Arts could be vulnerable to sale in Detroit's bankruptcy. At the same time, Detroit's pension funds are short by $3.5 billion.

Detroit emergency manager Kevyn Orr has until March 1 to propose a plan to take the city out of bankruptcy.


(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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