John Hennessy III,
P.E.
It is not a new concept, but transit-oriented development (TOD) has become a sweeping trend, as evidenced by new projects being launched throughout the United States. Congress has allocated billions to support the development of attractive residential and retail communities located near public transportation stations. The objective is to enhance the ease and convenience of […]
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Last week, DOT announced another groundbreaking financial tool – a product of the Build America Bureau – and provided an example. The Central Puget Sound Regional Transit Authority (Sound Transit) and the Build America Bureau signed a pioneering, first-of-its-kind Master Credit Agreement (MCA). The agreement lays a foundation for working together to initiate four transit projects in the Seattle area. The projects, now that they are consolidated, will be eligible to receive close to $2 billion in financing. As a result of the MCA, the Build America Bureau will be able to close one deal that covers multiple projects.
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