The Federal Transit Administration recently issued new guidance to increase “flexibility” for transit agencies working with developers to build projects that benefit transit systems and their communities – guidance posted August 14 in a Federal Register notice.
[Above photo by the FTA.]
“We are committed to supporting transit agencies that pursue joint development projects to capture the economic value of transit,” explained K. Jane Williams, FTA’s acting administrator, in a statement.
“Innovative partnerships and funding sources can help deliver projects more quickly, and this is especially important as communities recover from the COVID-19 public health emergency,” she said; supporting an executive order issued by the White House in June designed to expedite infrastructure investments and other activities to help the nation’s economy recover from the pandemic.
The agency’s FTA Guidance on Joint Development also reduces the agency’s involvement in Joint development projects that involve the construction of commercial, residential, or mixed-use projects near transit or on transit system-owned land – especially in terms of streamlining FTA’s project eligibility review process.