FTA finalizes rule for private investment in transit projects
The Federal Transit Administration (FTA) yesterday issued a final rule that describes new procedures aimed at spurring private participation and investment in transit projects. The Private Investment Project Procedures (PIPP) will help grantees identify FTA regulations, practices, procedures or guidance that may impede the use of a public-private partnership or private investment in a project, according to an FTA press release. Under the rule, the FTA administrator would have discretion to grant a modification or waiver of a requirement if certain criteria are met. PIPP could not be used to waive any requirement under the National Environmental Policy Act or any other provision of federal statute, however. "This final rule allows the public transportation industry to identify where there may be barriers to developing projects in concert with capable private partners," said FTA Acting Administrator K. Jane Williams. "FTA is committed to encouraging innovation and streamlining project delivery while protecting the public interest." The FTA issued a notice of proposed rulemaking on private project procedures in July 2017. The final rule incorporates changes made in response to public comments the agency received about the proposed rule.