The Federal Transit Administration’s newly-approved Private Investment Project Procedures (PIPP) will allow private organizations that receive federal transportation funds to request waivers or modifications to specific FTA practices or rules that may be an obstacle to private sector participation in transportation projects. The goal is to help identify what changes in FTA’s rules and operating procedures might help facilitate private sector involvement and Public Private Partnerships. While the Trump Administration will have the ability to grant these waiver requests, they cannot override the National Environmental Policy Act or any other rule laid out in Federal statutes.
- The Private Investment Project Procedures main goal is to help the federal government become successful in their efforts towards public transportation.
- They will be participating in developing designs, financial structure, maintenance and operations in general.
- Under the new procedure, public transportation systems will be able to obtain extra funding for their services, if need be.
“The DOT’s Federal Transit Administration (FTA) issued a notice of proposed rulemaking this that would allow public transit projects to streamline some steps in the regulatory or permit approval process if they prove that it will attract more private investors.”
Read more: https://www.constructionequipment.com/dot-tries-streamline-private-involvement-transit-projects