More fiscal aid may come from the Kresge Foundation, which may donate $35 million to the project, according to Matt Cullen, M1-Rail CEO.
The project already has raised about $30 million in private contributions from other private contributors. But the funds from DDA and the foundation indicate that the effort has evolved into apubic/private partnership.
Combined, funding commitments so far would cover at least half of the overall construction cost. Cullen, addressing the DDA’s board of directors, said construction could start this year, with revenue operation commencing near the end of 2010. The initial segment would link Hart Plaza toNew Center.