Detroit's Downtown Development Authority has voted to contribute $9 million to help build the 3.4-mile light-rail line running from Hart Plaza to New Center.
Excerpt:
A proposed light-rail transit system on Woodward Avenue got a major
financial boost today when Detroit’s Downtown Development Authority
voted to contribute $9 million to help build the route.
In addition, Matt Cullen, the chief executive of the project known as
M1-RAIL, told the DDA board that the Kresge Foundation was expected to
approve a $35-million contribution to the project.
The project has already raised about $30 million in private
contributions from contributors including Quicken Loans founder Dan
Gilbert, Compuware Corp. founder and chair Peter Karmanos Jr., and the
Ilitch family of pizza, sports, and entertainment fame.
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