Congressional Bill to Expedite Transit Oriented Development

Cory Booker has introduced a railroad bill that will, among other things, expand financing for transit-oriented projects near train stations. The new law would also make it easier for TOD developers to apply for federal loans.

1 minute read

March 30, 2015, 8:00 AM PDT

By Philip Rojc @PhilipRojc


Chicago El

Jess Kraft / Shutterstock

According to this piece from Smart Growth America, "A new bill in Congress would help make it easier to finance TOD projects. On Thursday, Senator Cory Booker (NJ) introduced the Railroad Infrastructure Financing Improvement Act (RIFIA). This legislation would expand the scope of the Railroad Rehabilitation and Improvement Financing program, which currently provides financing for railroad infrastructure development, to include TOD projects near passenger rail stations."

Many leaders in Washington, D.C. now look favorably on rail-based urbanism, once the cornerstone of American economic growth. From the article: "'The areas around our country’s passenger rail stations are often economic sleeping giants,' said John Robert Smith, co-chair of Transportation for America. 'Finding ways to finance and catalyze smart development in and around them is a proven strategy to boost local economies.'"

RIFIA provides for reinvestment for loan payments back into development around rail lines. "In addition to providing financing for TOD, the new program would invest loan repayments back into rail infrastructure to help fund capital and operations expenses. This presents a unique opportunity for private-public partnerships between real estate developers and passenger rail agencies."

Monday, March 23, 2015 in Smart Growth America

Sweeping view of Portland, Oregon with Mt. Hood in background against sunset sky.

Oregon Passes Exemption to Urban Growth Boundary

Cities have a one-time chance to acquire new land for development in a bid to increase housing supply and affordability.

March 12, 2024 - Housing Wire

Aerial view of green roofs with plants in Sydney, Australia.

Where Urban Design Is Headed in 2024

A forecast of likely trends in urban design and architecture.

March 10, 2024 - Daily Journal of Commerce

Cobblestone street with streetcar line, row of vintage streetlights on left, and colorful restaurant and shop awnings on right on River Street in Savannah, Georgia.

Savannah: A City of Planning Contrasts

From a human-scales, plaza-anchored grid to suburban sprawl, the oldest planned city in the United States has seen wildly different development patterns.

March 12, 2024 - Strong Towns

Aerial View of Chuckanut Drive and the Blanchard Bridge in the Skagit Valley.

Washington Tribes Receive Resilience Funding

The 28 grants support projects including relocation efforts as coastal communities face the growing impacts of climate change.

March 18 - The Seattle Times

Historic buildings in downtown Los Angeles with large "Pan American Lofts" sign on side of building.

Adaptive Reuse Bills Introduced in California Assembly

The legislation would expand eligibility for economic incentives and let cities loosen regulations to allow for more building conversions.

March 18 - Beverly Press

View from above of swan-shaped paddleboats with lights on around artesian fountain in Echo Park Lake with downtown Los Angeles skylien in background at twilight.

LA's Top Parks, Ranked

TimeOut just released its list of the top 26 parks in the L.A. area, which is home to some of the best green spaces around.

March 18 - TimeOut

News from HUD User

HUD's Office of Policy Development and Research

Call for Speakers

Mpact Transit + Community

New Updates on PD&R Edge

HUD's Office of Policy Development and Research

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.