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Abstract: This Recommended Practice guides transit agencies in partnering with businesses and community entities to promote transit-oriented development (TOD) and joint development (JD).

PowerPoint slideshow summarizing the Bay Area Rapid Transit property development plans as of Oct. 15, 2009

Executive Summary Transportation systems play a pivotal role in enhancing the productivity and quality of life in the United States. Funding for streets, highways, and transit is provided by the joint efforts of federal, state, and local governments; taxation and user fees are the primary revenue sources, along with supplemental methods including loans, bonds, public-private partnerships, and concessions (Committee for the Study of the Long-Term Viability of Fuel Taxes for Transportation Finance, 2006). The Report of the National Surface Transportation Policy and Revenue Study Commission, Transportation for Tomorrow, suggests that the country needs to invest at least $225 billion annually from all sources for the next 50 years to upgrade the existing system to a state of good repair and create a more advanced surface transportation system. The report also notes that present spending is only about 40 percent of this amount (National Surface Transportation Policy and Revenue Study…

It has been more than 20 years since significant research has been conducted on local and regional (i.e., non-federal and non-state) funding for public transportation. No information is available that describes funding mechanisms from local and regional sources beyond the revenue amounts reported in the NTD for key categories of transit operating and capital funds. Without this information, communities and public transportation agencies spend considerable time and money identifying and considering the funding options available. Research is needed on funding mechanisms to allow local governments and transit agencies to consider and pursue appropriate funding for current and future public transportation services. The research results should describe a broad range of funding mechanisms and provide sufficient information to allow investigation and comparison of funding options and to implement the funding mechanisms.

The objectives of this research were to…

Hong Kong’s principal rail operator, the MTR Corporation (MTRC), has advanced the practice of transit value capture more than any public-transport organization worldwide. It has done so through its “Rail + Property” development approach, or R+P. Chapter One examines the evolution and implementation of R+P since its inception in the mid-1980s. The role of MTRC as master planner of station-area development and the process introduced to share risks and rewards among public and private stakeholders are discussed. Chapter Two discussed R+P as a form of transit-oriented development (TOD). Through good quality urban design and attention to the needs of pedestrians, concentrating growth around stations can not only help finance capital infrastructure but can also contribute to place-making and community enhancement.