In August 2014, the Federal Transit Administration (FTA) issued Circular 7050.1, Federal Transit Administration Guidance on Joint Development. This new Circular (effective October 1, 2014) provides guidance and clarification for using FTA grant assistance or FTA-assisted real property for joint development. The Circular also discusses the statutory criteria for project eligibility as joint development.
FTA Circular includes the following updated elements:
- Defines an FTA framework for reviewing joint development proposals
- Ensures a “fair share of revenue” for transit
- Excludes joint development from the “cost effectiveness” criterion calculation of Capital Improvement Grants (as an enrichment)
- Advances private sector participation in transit
Not all joint development uses FTA financial assistance or FTA-assisted real property or other project property. The FTA circular applies only to joint development assisted by FTA, and which, therefore, has an FTA financial interest.
For more information on Joint Development, refer to FTA Circular 7050.1, Federal Transit Administration Guidance on Joint Development.