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Rail News: Passenger Rail
1/5/2011
Rail News: Passenger Rail
Reconnecting America issues report on transit-oriented development
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On Tuesday, the national nonprofit organization Reconnecting America released a new report that provides an overview of state, regional and local programs that fund transit-oriented development (TOD) projects and plans.
The report will serve as a resource for planners and policymakers who create TOD programs in their jurisdictions, Reconnecting America officials said in a prepared statement.
The report sorts into three categories — planning, implementation and property acquisition — the programs that provide grants, loans, tax credits or direct financial incentives for TOD projects or plans.
Included in the report are three recommendations for funding TOD programs:
• Programs must be tailored to local conditions and needs;
• Removing policy barriers to TOD may be equally important as TOD-supportive programs; and
• TOD programs may be able to include an incentive for localities to create zoning for appropriate levels of affordable housing near transit, for agencies to acquire properties for mixed-income TOD projects, or for developers to include below-market rate units in their projects.
The report will serve as a resource for planners and policymakers who create TOD programs in their jurisdictions, Reconnecting America officials said in a prepared statement.
The report sorts into three categories — planning, implementation and property acquisition — the programs that provide grants, loans, tax credits or direct financial incentives for TOD projects or plans.
Included in the report are three recommendations for funding TOD programs:
• Programs must be tailored to local conditions and needs;
• Removing policy barriers to TOD may be equally important as TOD-supportive programs; and
• TOD programs may be able to include an incentive for localities to create zoning for appropriate levels of affordable housing near transit, for agencies to acquire properties for mixed-income TOD projects, or for developers to include below-market rate units in their projects.
