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This is a gamechanger.
http://www.freep.com/article/2013010...text|FRONTPAGE
Quote:
The Kresge Foundation this morning pledged $150 million over five years to support the implementation of the Detroit Future City strategic framework that Mayor Dave Bing released this morning.
Sure beats sinking $150MM into the Bermuda Triangle that is the City General Budget.
The nice thing is that the City can use this to match other dollars. For example most federal transportation funds require a 20 percent match. That means they can take $2 million and do $10 million worth of work.
That'll help.
I've still never forgiven Hank the Deuce for letting the Ford Foundation slip away to NYC and outside board members... :mad: At 10 billion they're the largest foundation in the world... but basically has turned their back on Detroit and Michigan.
The biggest independent foundations we have here are the $3 billion Kresge Foundation, the $500 million Skillman Foundation, and the $150 million Hudson-Webber Foundation.
I did find a rather dated 2002 list of foundations from around the country that donated to the Detroit area... note the paltry Ford Foundation contributions [[versus Ford Motor Co.)....
http://foundationcenter.org/findfund...detroit_02.pdf