A Chicago Suntimes news report describes the purpose for the proposed Advanced Exotic Beam Laboratory that the Dept. of Energy is seeking to build. Both Argonne and Michigan State University are in the running to host this facility that would cost roughly $550 million.
This project was initially called RIA - Rare Isotope Accelerator, that was supposed to cost about $1.1 billion. Even though that had high importance and recommendation, budget constraints have cut it down, and the name also went away. So rather than calling it RIA Light, they found a convoluted name to give to this facility. Actually, I think the folks at Michigan State might be calling it by another name.