The Department of Transportation’s Federal Transit Administration (FTA) recently released the final rule and proposed implementation guidance for its Major Capital Investment Projects program (also known as New Starts/Small Starts). This program is the primary competitive federal funding source for the development/expansion of public transit projects. The revised program and implementation guidance specifically encourages the coordination of transit and affordable housing / community development investments. FTA’s proposed implementation guidance includes a new economic development factors in the rating process which will require the administering agency (FTA) to assess the amount of existing affordable housing within the applicants’ proposed transit corridors and the plans to develop and preserve affordable housing in the applicants proposed plan.
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