(Source: Detroit Free Press, June 5, 2012)
DETROIT — Though they didn’t say as much publicly, some of the city’s most powerful business leaders hoped President Barack Obama’s transportation chief would visit Detroit on Monday with funding in hand for the $137 million M-1 Rail proposal to run streetcars on Woodward from downtown to the New Center area.
Instead, U.S. Transportation Secretary Ray LaHood told backers of the project, assembled at Mayor Dave Bing’s conference room, that the feds want more assurances about the long-term viability of the rail line before committing $40 million in federal grants and tax credits needed to move the project forward.
Full story: Detroit Free Press