The Equitable Transit Oriented Development Support Act amends the transportation finance infrastructure and innovation program to support.
The bill modifies the transportation finance infrastructure and innovation program to support transit-oriented development projects through community development financial institutions (CDFI). It establishes CDFI Transit-Oriented Development (TOD) accounts, which receive proceeds from secured loans and loan repayments. These accounts fund loans to project sponsors for transit-oriented development projects, which must be located within a specified distance of transit facilities.
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