The U.S. Department of Transportation (USDOT) recently updated guidance that clarifies the eligibility of transit-oriented development (TOD) projects for specific department resources.
TOD projects create walkable residential and commercial centers by focusing economic development around transit, rail, and intercity bus facilities. The guidance will help project sponsors understand parameters to qualify for financing under Transportation Infrastructure Finance & Innovation Act (TIFIA) and Railroad Rehabilitation & Improvement Financing (RRIF) loan programs.
