Joint development agreements that convey FTA-assisted property must ensure that the transit access and use are not restricted and that access to the real property for its original transit purpose will be maintained. Furthermore, the agreement should ensure that all other pertinent FTA requirements for use of the real property for joint development, including crosscutting federal requirements, such as planning and environmental review, are satisfied by specific terms and conditions.
These joint development agreements must include provisions that:
- Extend the requirements of the original FTA grant as necessary;
- Ensure that the project sponsor maintains satisfactory continuing control of the property;
- Ensure that the federal interest in the property will be reasonably protected; and
- Ensure that the federal interest in the property is protected following any further transfer of the property.
These requirements should not be a deterrent to the pursuit of joint development. It is FTA’s policy to give project sponsors maximum flexibility within the law to enter arrangements with the private sector and others that are suitable to the joint development and the parties involved.