DETROIT -

The plan to have a light rail system running through Detroit is still alive.  

Michigan Gov. Rick Snyder, Detroit Mayor Dave Bing and U.S. Transportation Secretary Ray LaHood met Monday with several investors.

After submitting their plans for an M-1 Rail to federal officials in April, the group's officials said they had raised most of the $137million needed to build the line and pledged to pay80 percent of the annual cost of operating it through2025.

The rail line would extend 3.3miles from downtown, north to Detroit's New Center Area.

The group's leaders said they've been given 60 days by the government to solidify final details about how the rail would sustain itself after it was built.