New Rules for Sizing Loans in Transit Development Projects
Published Date: 4/23/2026
Notice
Summary
The Build America Bureau is sharing new guidance on how to size loans for transit-oriented development projects using two big federal loan programs. This affects projects already in the pipeline that have started key environmental reviews, helping them get clearer loan rules now. If you’re working on these projects, get ready to comment by May 18, 2026, and watch for final rules soon that could impact your funding.
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Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Loan Size Tied to Transportation Benefits
If you sponsor a transit-oriented development (TOD) project seeking RRIF or TIFIA credit, the proposed guidance sets a preferred maximum loan sizing method that ties the maximum loan size to the transportation benefits the project generates. The guidance describes a methodology the Bureau would use to correlate transportation benefits with the largest loan it would anticipate accepting as a policy matter.
Interim Policy Applies to Active Pipeline Projects
The interim preferred loan-sizing policy applies only to TOD projects that are already active in the RRIF and TIFIA pipeline and that have either received a preliminary eligibility determination letter or initiated a DOT-led NEPA process. If your project meets those conditions, this interim guidance will govern how the Bureau considers preferred loan sizing for your project.
Other Projects Must Apply or Reapply Later
If your TOD project is not already active in the RRIF/TIFIA pipeline with a preliminary eligibility determination or NEPA initiation, you will need to apply or reapply once DOT publishes a subsequent notice with the final policy framework and updated application process. Stakeholders may submit comments on the proposed guidance by May 18, 2026.
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