Progressive Railroading

Newsletter Sign Up
Stay updated on news, articles and information for the rail industry



This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.


View Current Digital Issue »


RAIL EMPLOYMENT & NOTICES



Rail News Home Passenger Rail

8/17/2020



Rail News: Passenger Rail

FTA releases new TOD guidance


advertisement

The Federal Transit Administration (FTA) last week updated its guidance on joint development to increase flexibility for transit agencies to work with developers to build projects that benefit transit systems and their communities. 

The new guidance also reduces FTA involvement in joint development agreements negotiated between project sponsors and their partners, streamlines the administration's project eligibility review process and clarifies prior guidance.

The updates to the guidance will encourage projects that contribute to the nation’s economic recovery from COVID-19, FTA officials said in a press release.

Joint developments involve the construction of commercial, residential, or mixed-use projects near transit or on transit system-owned land. The public and private investments are coordinated between transit agencies and developers to build the project, producing a revenue stream for both the developer and the transit agency.

 



Contact Progressive Railroading editorial staff.

More News from 8/17/2020