MSF board visits FRIB, induces $90 million in bonds
The Michigan Strategic Fund (MSF) board induced more than $90 million for the Facility for Rare Isotope Beams (FRIB) at their regular meeting, held February 25 at FRIB.
Governor Rick Snyder said, “It’s a tangible step to make real action happen.”
The money approved at the meeting will go toward the community cost share of FRIB, which continues forward motion demonstrated last month with the approval of the full $55 million requested in the 2014 federal budget and official notice from the Department of Energy Office of Science to begin civil construction.
FRIB Project Manager Thomas Glasmacher said, “We are committed to delivering FRIB on schedule, and it is gratifying to see pieces fall into place that will allow us to do that.”
But this is just one step in the process to successfully deliver FRIB. Annual appropriations will determine the continuation of funding, and will depend on the FRIB Project team to deliver on the baseline, achieve scheduled milestones, and pass essential reviews with MSU and DOE-SC this spring and summer.
Civil construction of FRIB will begin in early spring and contractors have begun to remove snow and frozen soil to prepare for excavation activities, scheduled to start after the March 17 groundbreaking.