HARRISBURG – The Senate unanimously approved legislation introduced by Senator Dominic Pileggi (R-9) to encourage private development at mass transit hubs.
Senate Bill 385 will modernize the Pennsylvania Transit Revitalization Investment District (TRID) Act, originally enacted in December 2004.
“The objective of the original TRID law is commendable: encouraging private development at mass transit hubs,” Senator Pileggi said. “Unfortunately, since the law’s enactment, only one TRID has been created. It has become clear that the law needs to be streamlined and strengthened. Senate Bill 385 makes the changes needed for TRIDs to become real engines for economic growth.”
Senate Bill 385 streamlines the TRID creation process, sets clear parameters for TRID funding and the use of those funds, and authorizes a new “tax capture” funding mechanism to provide funding. Any projects funded in a TRID will require a minimum one-third match from private dollars.
The legislation is supported by a wide range of organizations across Pennsylvania, including the Pennsylvania State Association of Boroughs (PSAB), the Pennsylvania State Association of Township Supervisors (PSATS), the Pennsylvania Chamber of Business and Industry, the Delaware Valley Regional Planning Commission (DVRPC), and the Southeastern Pennsylvania Transportation Authority (SEPTA).
“Transit-oriented development is key to economic growth and prosperity in the Philadelphia region and throughout the Commonwealth,” said SEPTA Board Chairman Pasquale T. “Pat” Deon. “Thanks to Senator Pileggi’s leadership, we now have the opportunity to further these efforts and unlock their potential. Passage of this TRID legislation would help foster effective transportation-oriented development around SEPTA stations, and also allow for more public-private-type partnerships.”
Upper Darby Mayor Thomas Micozzie said, “Upper Darby is the sixth largest municipality in the state, and a TRID would greatly enhance the opportunity for businesses to locate in and around the 69th Street Transportation Center. The improvement projects now underway at the 69th Street Transportation Center’s West Terminal and along the shopping district would be enhanced with a TRID in Upper Darby.”
By simplifying the TRID process and implementation, Senate Bill 385 will enhance the opportunity for private developers to invest in improving mass transit hubs in communities across Pennsylvania.
“I want to thank my colleagues in the Senate for advancing this bill unanimously,” Senator Pileggi said.
The bill now moves to the House of Representatives for consideration.
CONTACT: Lisa Reisteter, (717) 787-4712