News reports published today [6/18] suggested our project [M-1 Rail streetcar] is in jeopardy. It is not.
The construction of the M-1 Rail streetcar will proceed as planned and commence upon city council approval of our operating agreement. We hope for approval next week.
We remain very optimistic about the requested TIGER grant based on the quality of our application, the strong support of the Mayor, our congressional delegation and others, the Administration’s focus and commitment to the city of Detroit, and the profound impact of this project for our community. That being said, the TIGER grant is just one component of our funding structure; there are contingency strategies that we will deploy if the grant is not approved.
Matthew P. Cullen
President and CEO