HAZEL PARK, Mich., March 29, 2024 — The Michigan Strategic Fund (MSF) approved a resolution this week to forgive $3.5 million of its outstanding loan to M-1 Rail in return for promotional opportunities valued at $4.8 million. In substituting the initial payment agreement with an acknowledgement rights structure, the Regional Transit Authority (RTA) will be able to take over the QLine. Under new management, the streetcar line will be eligible for state and federal transit funding not available to its current owner M-1 Rail, a registered nonprofit. In response to the announcement, state Rep. Mike McFall (D-Hazel Park) issued the following statement:
“In opening the door for RTA to take over the QLine, MSF has set the stage for untold increased funding for the streetcar, including from traditional state and federal sources. Investment in transit is crucial for Detroiters. Reliable public transit is a matter of physical, economic, and social mobility. Bolstering public transportation residents can rely on is a priority of mine. As co-founder of the Public Transit Caucus, I’m thrilled for what lies ahead for the QLine and transit in the region and beyond.”
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