HARRISBURG – The Senate Transportation Committee today 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Senate Bill 385 will modernize the Pennsylvania Transit Revitalization Investment District (TRID) Act, originally enacted in December 2004.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 goal of the original TRID law is admirable: 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 and 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, and the Greater Philadelphia Chamber of Commerce.
“The Pennsylvania State Association of Boroughs has been a supporter of innovative TRID legislation since the original act was passed ten years ago,” said Ed Troxell, PSAB’s Director of Government Affairs. “We’re extremely pleased that Senator Pileggi’s amendments to the act will provide expanded options for the use of TRIDs in our boroughs throughout the Commonwealth.”
“One of the reasons that the TRID program hasn’t taken off is that there have been limited funding options,” said Elam Herr, Assistant Executive Director for PSATS. “Senate Bill 385 helps rectify that issue and will make the program much more effective.”
“Upper Darby is the sixth largest municipality in the state, and a TRID would greatly enhance the opportunity for businesses to locate in the 69th Street Transportation Center,” said Upper Darby Mayor Thomas Micozzie.
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 Senator John Rafferty, Chairman of the Transportation Committee, for advancing this bill so quickly in the legislative session,” said Senator Pileggi.
The bill now moves to the full Senate for consideration.
Erik Arneson, email@example.com, (717) 787-4712