Schatz Transit-Oriented Development Bill Included in Senate Transportation Bill
Schatz Legislation Will Provide Credit Assistance for Infrastructure Linking Communities to Public Transit
Washington, DC – The expansive Senate transportation bill announced last night by Senate Environment and Public Works (EPW) Chairman Barbara Boxer (D- Calif.) includes U.S. Senator Brian Schatz’s (D-Hawai‘i) Transit-Oriented Development Infrastructure Financing Act. Schatz’s legislation, which is co-sponsored by Senators Ed Markey (D-Mass.), Kirsten Gillibrand (D-N.Y.), and Jeff Merkley (D-Ore.), would help finance the development of better walkable, bikeable communities near transit stations and support community development that integrates housing, amenities and commercial development into walkable neighborhoods located near quality public transportation. The legislation would enable the U.S. DOT Transportation Infrastructure Finance and Innovation Act (TIFIA) program to provide loans, loan guarantees, and lines of credit to public infrastructure projects for those neighborhoods.
“When we invest in neighborhoods around transit, we create jobs, cut traffic, and improve communities, while preserving our water and land,” said Senator Schatz. “I am grateful we were able to work with Chairman Boxer and Ranking Member Vitter to include our legislation in the transportation bill. As we move forward with building high-speed rail in Honolulu, our legislation will improve communities near proposed transit stations, making them safer and more functional for Hawai‘i families.”
The six-year EPW transportation bill reauthorizes funding for federal transportation projects from the Highway Trust Fund, which is projected to go bankrupt as early as August without congressional action. The bipartisan MAP-21 Reauthorization Act (S. 2322) will also keep spending at current rates, adjusted for inflation. The bill will be marked up in the EPW Committee on Thursday, May 15th at 9:30 a.m. ET.
Locating housing, workplaces, and retail within walking distance of a bus or rail station increases economic opportunities and creates better access to jobs for working families. Transit-oriented development frees up household income by reducing dependence on automobiles and benefits the environment by using land more efficiently, preserving undeveloped land, and protecting water quality. Today, financing for public infrastructure in these areas is often complex and hard to obtain. Supporters of the Transit-Oriented Development Infrastructure Financing Act include LOCUS, Smart Growth America, the American Planning Association and Transportation for America.
"This bill will help both the public and private sectors build great places along our rail corridor,” said Honolulu Mayor Kirk Caldwell. “The housing in these transit-enhanced neighborhoods will be affordable for middle-class working families like teachers, office workers, and young professionals, whose lives will be linked to where they work, play, and connect with family and friends. We welcome and support the new financing tool this bill provides."
###
