Senators Schatz, Markey and Merkley champion provision to support investment in neighborhoods near transit
The Senate passed its final six-year transportation reauthorization bill today, and included in the bill is a provision to expand the eligibility of transit-oriented development (TOD) projects for federal TIFIA financing. The provision would also expand financing for infrastructure projects that promote transit ridership, walkability, or increased private investment.
“If you took a bus or train to work today, you know how convenient it is to live and work near a transit stop,” said Christopher Coes, Director of LOCUS. “Transit-oriented development makes day-to-day life easier for millions of Americans. It’s also the backbone of regional economies across the country. The Senate’s bill will make creating new TOD projects easier, and will give more Americans the option to live and work near transit while also supporting economic growth nationwide.”