Bill to develop mass transit hubs advances

The Senate unanimously approved legislation introduced by Sen. Dominic Pileggi, R-9, to encourage private development at mass transit hubs, according to a press release from the senator’s office.

Senate Bill 385 would modernize the Pennsylvania Transit Revitalization Investment District Act, originally enacted in December 2004, the release said.

“The objective of the original TRID law is commendable: encouraging private development at mass transit hubs,” Pileggi said. “Unfortunately, since the law’s enactment, only one TRID has been created. It has become clear that the law needs to be streamlined and strengthened. Senate Bill 385 makes the changes needed for TRIDs to become real engines for economic growth.”

Senate Bill 385 streamlines the TRID creation process, sets clear parameters for TRID funding and the use of those funds, and authorizes a new “tax capture” funding mechanism to provide funding. Any projects funded in a TRID will require a minimum one-third match from private dollars.

A wide range of organizations across Pennsylvania supports the legislation, including the Pennsylvania State Association of Boroughs, the Pennsylvania State Association of Township Supervisors, the Pennsylvania Chamber of Business and Industry, the Delaware Valley Regional Planning Commission , and the Southeastern Pennsylvania Transportation Authority.

“Transit-oriented development is key to economic growth and prosperity in the Philadelphia region and throughout the Commonwealth,” said SEPTA Board Chairman Pasquale T. “Pat” Deon. “Passage of this TRID legislation would help foster effective transportation-oriented development around SEPTA stations, and also allow for more public-private-type partnerships.”

Pileggi said he wanted to thank his Senate colleagues “for advancing this bill unanimously.” The bill now moves to the House of Representatives for consideration.



1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

Leave a Reply

You must be logged in to post a comment.