FTA Publishes Guidance on Joint Development

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Earlier this week, on August 25, 2014, the Federal Transit Administration (“FTA”) published Circular 7050.1, providing much anticipated guidance for grantees interested in pursuing joint development projects within FTA’s legal and regulatory framework.  The circular incorporates joint-development related provisions from MAP-21, and is intended to clarify FTA’s policy and serve as its single guidance document on the subject. 

Specifically, the circular: (1) defines the term “joint development”; (2) explains how a joint development project can qualify for FTA assistance; (3) describes the legal requirements that apply to the acquisition, use, and disposition of real property previously acquired with FTA assistance (“FTA-assisted real property”); (4) outlines the most common crosscutting federal requirements that apply to joint development projects; and (5) describes FTA’s process for reviewing and analyzing joint development proposals.

For more information on joint development within the FTA framework or to view the new circular, click here.

 

Topics:  Federal Transit Administration, Joint Venture, MAP-21

Published In: Construction Updates, Government Contracting Updates, Commercial Real Estate Updates, Residential Real Estate Updates, Transportation Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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