The following excerpt was taken from The Detroit News. Read the full article here.

Ann Arbor— Detroit Emergency Manager Kevyn Orr on Tuesday amped up the pressure for a bankruptcy deal, warning unions that funds pledged toward pensions are at risk and proceeding with plans for a privately run water department.

Orr, speaking at the University of Michigan, urged the city’s unions to reach an agreement on bankruptcy terms soon or risk the loss of more than $800 million in funding to shore up pension funds.

Ten regional and national foundations have pledged $365 million toward pensions in exchange for shielding DIA art; the Detroit Institute of Arts has pledged to raise $100 million over two decades; and the state would provide $350 million.