SUPPLEMENTARY INFORMATION:

I. Background

In early 2025, DOT commenced a review of its policies related to credit assistance for TOD projects under the RRIF and TIFIA credit programs. As an outcome of this review, the Bureau has published a proposed guidance document to ensure that RRIF and TIFIA resources are deployed strategically to TOD projects that maximize transportation benefits. The proposed guidance document describes a preferred maximum loan sizing methodology that correlates the value of the transportation benefits a TOD project generates with the maximum size of a loan the Bureau would anticipate accepting as a policy matter.

This guidance document applies only to active projects in the Bureau's pipeline that have either received a preliminary eligibility determination letter from the Bureau or initiated a DOT-led National Environmental Policy Act (NEPA) process. The Bureau is developing an additional subsequent notice that will describe the future, updated application process and set of discretionary criteria for new TOD project financing requests. All TOD projects other than those described above to whom this current guidance document applies will need to apply/reapply pending the publication of the additional subsequent notice.

The proposed Preferred Loan Sizing guidance document, in the form of Frequently Asked Questions, is available for review on the Bureau's website at ( https://www.transportation.gov/​buildamerica/​TOD/​faqs), and the Federal Regulations portal ( www.regulations.gov) with Docket No.: DOT-OST-2026-1487. The Bureau is seeking public comment on ( printed page 21872) the proposed guidance document before it is issued as final. In addition to general feedback, the Bureau specifically solicits input on the scope of the policy's implementation as detailed in Section II below.

II. Request for Comments

The Bureau solicits comments on the proposed implementation of this guidance. Under the current proposal, the Bureau would apply the interim policy only to specific transit-oriented development (TOD) projects currently in the pipeline, pending the development of a subsequent notice that would establish a separate, comprehensive application framework for all other current and future TOD credit assistance requests. Specifically, the Bureau requests input on the comparative merits of establishing a unified implementation framework—applying the preferred loan-sizing methodology described herein to the entirety of the TOD pipeline and all future applicants—as an alternative to the proposed phased approach.

91 FR 21871