The M-1 RAIL (the “Project”) is a 3.31 mile fixed rail streetcar project being developed in Detroit as the lynchpin of the effort to revitalize the city’s urban core. The Project encompasses the construction, operation and maintenance of a streetcar system in the public right of way. It consists of fixed rail infrastructure, stations, a maintenance facility, streetcars, overhead catenary, various sub-systems and supporting electrical distribution. M-1 RAIL provides premium transit service with 7.5 to10 minute frequencies during peak hours. Ridership is expected to grow to three million trips annually. The Project is located along Woodward Avenue between the Downtown and New Center areas – the economic and civic core of the region and home to the most exciting and visionary urban reinvention efforts in America today. This corridor includes the region’s central business district – the world headquarters of companies including General Motors and Quicken Loans; a major research university; two of the Midwest’s largest and most important medical centers; world class cultural, sports and entertainment destinations, including the Detroit Tigers’ and Lions’ stadiums; and residential neighborhoods. In the leadup to project completion, anticipation of the new rail line helped catalyze well over $1 billion in new investment, and it motivated large employers to move thousands of new employees to the city.