EPA Smart Growth Technical Assistance – Infrastructure Financing Options for TOD
Client: Environmental Protection Agency (EPA)
The Environmental Protection Agency’s (EPA) Smart Growth Implementation Assistance (SGIA) program, a technical assistance program for state, local, regional, and tribal governments that want to incorporate smart growth techniques into their future development, engaged a consultant team consisting of CH2MHill, Strategic Economics, and ARUP to evaluate new and innovative strategies for financing transit-oriented development (TOD) infrastructure. Strategic Economics, acting as the technical lead for the effort, worked with the rest of the consultant team and the EPA to prepare the report, “Infrastructure Financing Options for Transit-Oriented Development,” a comprehensive guidebook to the tools and strategies for funding and financing the infrastructure needed to support TOD.
As part of this effort Strategic Economics and the consultant team also provided targeted technical support to local communities receiving grants from the EPA’s SGIA program. The four grantee communities (Cobb County and the Cumberland Community Improvement District, Georgia; South Suburban Mayors and Managers Association (Chicago area), Illinois; Utah Transit Authority, Salt Lake City, and Sandy City, Utah; and City of Wheat Ridge, Colorado) received assistance in evaluating potential mechanisms for financing TOD infrastructure.
The Infrastructure Financing Options for TOD guidebook includes an inventory of existing and emerging tools for funding and financing TOD infrastructure, demonstrates how a selection of funding and financing tools can be assembled into financing models that communities can use to finance infrastructure; and applies the lessons learned to the four EPA SGIA grant recipient communities. The inventory of funding and financing tools provides background information about how the tools work, including applicability to different types of infrastructure, approval requirements, legal and political considerations, the capacity of the tool and the scale of infrastructure, whether the tool relies on public or private funds or a mix of these, and the risk profile of the tool.