02/06/2012 08:01 am ET

Snyder Not Yet On Board With M1

Gov. Rick Snyder is skeptical of a private consortium's ability to finance, build and operate a streetcar system in downtown Detroit as budgeted, sources have told Crain's. But his administration is reluctant to make its worries public because the influential group has significant political support in Washington.

Two sources with knowledge of the situation told Crain's on the condition of anonymity that Snyder is concerned that the investor group known as M1 Rail cannot build its 3.4-mile line between Hart Plaza and New Center on Woodward Avenue for the $125 million it has advertised.

Read more on Crain's Detroit Business