US Federal Transit Administration proposes rule to boost private investment

The U.S. Federal Transit Administration (FTA) announced a proposal to facilitate public-private partnerships in public transport that will help the federal government to develop more effective approaches to spurring private participation and investment in areas such as project planning, development, finance, design, construction, maintenance, and operations.
“As more public transport project sponsors find willing and able private partners, we must ensure that federal regulations or procedures do not stifle innovation. FTA’s Private Investment Project Procedures will help us maintain procedures that are truly beneficial while allowing for discretion to waive those that simply impede good projects,” FTA Executive Director Matthew Welbes said.
Under the newly proposed Private Investment Project Procedures (PIPP), the recipients of Federal funding for public transport projects would be allowed to identify specific FTA regulations, practices, procedures or guidance documents that may be an impediment to the use of a public-private partnership or private investment in that project.
“One of the Trump Administration’s priorities is to allow private sector resources and expertise to help rebuild America’s infrastructure. This proposal will help us better understand the ways that unnecessary procedures may get in the way of building the best projects possible at the for lowest cost to the public,” U.S. Department of Transportation Secretary Elaine Chao said.