Notice2026-07981
Notice of Availability of Proposed Guidance for Preferred Loan Sizing for Transit-Oriented Development Projects Under the Railroad Rehabilitation and Improvement Financing Program and Transportation Infrastructure Finance and Innovation Act Program
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
April 23, 2026
Issuing agencies
Transportation DepartmentTransportation Department
Abstract
The Build America Bureau (Bureau) is making available for public comment a proposed guidance document that would set an interim policy for the preferred loan sizing for transit-oriented development (TOD) projects under the Railroad Rehabilitation and Improvement Financing (RRIF) and Transportation Infrastructure Finance and Innovation Act (TIFIA) credit programs. The interim policy would be applied only to active projects in the RRIF and TIFIA programs' pipeline that previously received a preliminary eligibility determination or initiated the National Environmental Policy Act (NEPA) process (i.e., USDOT has made an official class of action determination in writing based on detailed project information provided by the project sponsor). All other projects would need to apply (or reapply) once a final policy framework and updated application process for TOD projects are announced in a subsequent notice to be published in the near future.
Full Text
<html>
<head>
<title>Federal Register, Volume 91 Issue 78 (Thursday, April 23, 2026)</title>
</head>
<body><pre>
[Federal Register Volume 91, Number 78 (Thursday, April 23, 2026)]
[Notices]
[Pages 21871-21872]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-07981]
-----------------------------------------------------------------------
DEPARTMENT OF TRANSPORTATION
Office of the Secretary of Transportation
[Docket No. DOT-OST-2026-1487]
RIN 2105-ZA51
Notice of Availability of Proposed Guidance for Preferred Loan
Sizing for Transit-Oriented Development Projects Under the Railroad
Rehabilitation and Improvement Financing Program and Transportation
Infrastructure Finance and Innovation Act Program
AGENCY: Build America Bureau (Bureau), U.S. Department of
Transportation (Department or DOT).
ACTION: Notice of availability of proposed guidance document; request
for comments.
-----------------------------------------------------------------------
SUMMARY: The Build America Bureau (Bureau) is making available for
public comment a proposed guidance document that would set an interim
policy for the preferred loan sizing for transit-oriented development
(TOD) projects under the Railroad Rehabilitation and Improvement
Financing (RRIF) and Transportation Infrastructure Finance and
Innovation Act (TIFIA) credit programs. The interim policy would be
applied only to active projects in the RRIF and TIFIA programs'
pipeline that previously received a preliminary eligibility
determination or initiated the National Environmental Policy Act (NEPA)
process (i.e., USDOT has made an official class of action determination
in writing based on detailed project information provided by the
project sponsor). All other projects would need to apply (or reapply)
once a final policy framework and updated application process for TOD
projects are announced in a subsequent notice to be published in the
near future.
DATES: Comments must be submitted by May 18, 2026 to receive full
consideration by DOT for incorporation into the final guidance
document. Late-filed comments will be considered to the extent
practicable.
ADDRESSES: Please send your comments, identified by Docket No.: [DOT-
OST-2026-1487], to the Federal Regulations portal at
<a href="http://www.regulations.gov">www.regulations.gov</a>.
FOR FURTHER INFORMATION CONTACT: Dan Schned, Acting Director, Office of
Outreach and Project Development, Build America Bureau, at
<a href="/cdn-cgi/l/email-protection#7b1f1a15121e1755081813151e1f3b1f140f551c140d"><span class="__cf_email__" data-cfemail="1377727d7a767f3d60707b7d767753777c673d747c65">[email protected]</span></a> or 202-366-2897, with a courtesy copy to
<a href="/cdn-cgi/l/email-protection#6d181e0902190c0e0e081e1e040f04010419142d090219430a021b"><span class="__cf_email__" data-cfemail="7f0a0c1b100b1e1c1c1a0c0c161d1613160b063f1b100b51181009">[email protected]</span></a> and <a href="/cdn-cgi/l/email-protection#91f3e4f8fdf5f0fcf4e3f8f2f0d1f5fee5bff6fee7"><span class="__cf_email__" data-cfemail="ed8f988481898c80889f848e8cad898299c38a829b">[email protected]</span></a>.
Please reference ``Proposed Guidance for Preferred Loan Sizing for
TOD Projects'' in the subject line when submitting your response.
Please note that any comments received by email will be posted, without
edit, including any personal information the commenter provides, to
<a href="http://www.regulations.gov">www.regulations.gov</a>, as described in the system of records notice (DOT/
ALL-14 FDMS), which can be reviewed at <a href="http://www.dot.gov/privacy">www.dot.gov/privacy</a>. DOT looks
forward to your submission in response to this notice.
SUPPLEMENTARY INFORMATION:
I. Background
In early 2025, DOT commenced a review of its policies related to
credit assistance for TOD projects under the RRIF and TIFIA credit
programs. As an outcome of this review, the Bureau has published a
proposed guidance document to ensure that RRIF and TIFIA resources are
deployed strategically to TOD projects that maximize transportation
benefits. The proposed guidance document describes a preferred maximum
loan sizing methodology that correlates the value of the transportation
benefits a TOD project generates with the maximum size of a loan the
Bureau would anticipate accepting as a policy matter.
This guidance document applies only to active projects in the
Bureau's pipeline that have either received a preliminary eligibility
determination letter from the Bureau or initiated a DOT-led National
Environmental Policy Act (NEPA) process. The Bureau is developing an
additional subsequent notice that will describe the future, updated
application process and set of discretionary criteria for new TOD
project financing requests. All TOD projects other than those described
above to whom this current guidance document applies will need to
apply/reapply pending the publication of the additional subsequent
notice.
The proposed Preferred Loan Sizing guidance document, in the form
of Frequently Asked Questions, is available for review on the Bureau's
website at (<a href="https://www.transportation.gov/buildamerica/TOD/faqs">https://www.transportation.gov/buildamerica/TOD/faqs</a>), and
the Federal Regulations portal (<a href="http://www.regulations.gov">www.regulations.gov</a>) with Docket No.:
DOT-OST-2026-1487. The Bureau is seeking public comment on
[[Page 21872]]
the proposed guidance document before it is issued as final. In
addition to general feedback, the Bureau specifically solicits input on
the scope of the policy's implementation as detailed in Section II
below.
II. Request for Comments
The Bureau solicits comments on the proposed implementation of this
guidance. Under the current proposal, the Bureau would apply the
interim policy only to specific transit-oriented development (TOD)
projects currently in the pipeline, pending the development of a
subsequent notice that would establish a separate, comprehensive
application framework for all other current and future TOD credit
assistance requests. Specifically, the Bureau requests input on the
comparative merits of establishing a unified implementation framework--
applying the preferred loan-sizing methodology described herein to the
entirety of the TOD pipeline and all future applicants--as an
alternative to the proposed phased approach.
Issued in Washington, DC, on April 21, 2026 pursuant to
authority delegated by the Secretary,
Morteza Farajian,
Executive Director, Build America Bureau.
[FR Doc. 2026-07981 Filed 4-22-26; 8:45 am]
BILLING CODE 4910-9X-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on April 23, 2026.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.