In most cases, yes.
If a joint development involves the use of property previously acquired with the assistance of an FTA award for which the period of performance has ended, the project sponsor can use the revenue as program income and apply it to any transit capital or operating expense, or as local match for any FTA capital grant.
If FTA is funding the joint development through a new award or the joint development uses property recently acquired with the assistance of an FTA award for which the period of performance has not ended, the revenue a project sponsor earns during the period of performance of the award is treated as “program income,” as defined in FTA C 5010.1E. Program income may be used towards eligible transit capital or operating expenses, or as local match for a future FTA award. However, program income may not be used as local match for the same award from which it was earned, or the award that assisted the joint development project.
For more on this, see “Program Income” in FTA C 5010.1E.