Equitable Transit Oriented Development Support Act
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Summary
This bill amends the Transportation Infrastructure Finance and Innovation Act (TIFIA) program to create a new funding mechanism for transit-oriented development projects in low-income communities. It establishes CDFI TOD accounts—special accounts within Community Development Financial Institutions (CDFIs) that can receive federal secured loans to finance transit-oriented development projects serving low-income residents, businesses, and communities. The bill sets aside up to 10 percent of annual TIFIA funds for this purpose and requires the Secretary of Transportation to coordinate with the Treasury Department on credit assessment and loan servicing.
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