From yesterday's press release:
"The TMT is currently in the final stages of an $80 million design phase. The plan is to initiate construction in 2010 with first light in early 2018. This project is a partnership between the University of California, California Institute of Technology, and ACURA, an organization of Canadian universities. The Gordon and Betty Moore Foundation has provided $50 million for the design phase of the project and has pledged an additional $200 million for the construction of the telescope, and Caltech and the University of California each will seek to raise matching funds of $50 million to bring the construction total to $300 million."
Stay tuned as the best is yet to come.
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