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.
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."
FULL STORY: A new bill in Congress would create new financing option for transit-oriented development
Federal Loan Programs Offer Billions for TOD
USDOT is encouraging developers to take advantage of loans aimed at supporting the building of multifamily buildings near transit lines.
House Transportation Bill Misses Mark on Transit
Transit advocates have little good to say about the recently-passed Surface Transportation Reauthorization and Reform Act. While it doesn't cut transit funding, it does nothing to expedite transit-based solutions.
DC Streetcars to Be a Shot in the Arm
It was nearly 50 years ago, when streetcars were seen on the roadways of downtown Washington, DC. Dan Tangherlini, the former transportation director for the District discusses why streetcars matter in the United States capital.
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
How Urban Form Impacts Housing Affordability
The way we design cities affects housing costs differently than you might think.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
Town of Zionsville
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.
