The transit-oriented development project will increase transit ridership.The asset is a necessary component of a proposed transit-oriented development project. ![]() First, however, FTA must concur that the following five statutory criteria are met, per 49 USC § 5334(h)(1)(B)(i)-(iii): This provision is unique in that it allows recipients to transfer assets to local governmental entities, non-profit organizations, or third-party entities with no further obligation to the Government. This disposition option is available for transit-oriented developments (TOD). What are the criteria to use this new provision? In addition to prior provisions allowing for transfers to local governments, under the new provision, FTA also may authorize the transfer of an asset to a local governmental authority, non-profit organization, or other third-party entity if, among other factors, it will be used for transit-oriented development (TOD) and includes affordable housing.Ģ. Section 6609 of the National Defense Authorization Act (NDAA) amended 49 USC § 5334(h)(1), adding a new disposition option for assets acquired with federal assistance, but no longer needed for the originally authorized purpose. How did the National Defense Authorization Act (NDAA) for Fiscal Year 2022 change the disposition options for the Federal Transit Administration (FTA) recipients in 49 USC § 5334(h)(1)? Grantees and subgrantees should refer to FTA’s statutes and regulations for applicable requirements.ġ. This document is intended only to provide clarity to the public regarding existing requirements under the law or agency policies. ![]() This proposed guidance does not have the force and effect of law and are not meant to bind the public in any way. Notice of Proposed Asset Disposition Guidance and Request for Comments The Federal Register Notice is open for public comment until April 14, 2023.įTA hosted a webinar about the Proposed Asset Disposition Guidance on April 5, 2023. See the Notice of Proposed Asset Disposition Guidance and Request for Comments and FTA’s interim guidance in the form of FAQs below. ![]() Recent changes in law allow transit agencies to repurpose qualified properties for transit-oriented development and affordable housing projects.
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