Promote joint development or cost-sharing opportunities by welcoming private development partners through appropriate incentives and by advertising that TOD projects are most feasible when design and construction experts team with transit agency representatives.
Strategies include:
- Offer developer returns tied to excess real estate surrounding transit facilities, such as underutilized surface parking areas.
- Utilize joint development agreements to create long-term leases that reduce developer financial risk.
- Apply ground lease revenue to leverage bonds that expedite capital improvements which benefit the surrounding community.
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