[Congressional Record Volume 158, Number 53 (Friday, March 30, 2012)]
[Extensions of Remarks]
[Page E515]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                TRANSPORTATION ORIENTED JOBS INITIATIVE

                                 ______
                                 

                          HON. THOMAS E. PETRI

                              of wisconsin

                    in the house of representatives

                         Friday, March 30, 2012

  Mr. PETRI. Mr. Speaker, today, along with Representative Lipinski, I 
am introducing legislation to stimulate the financing of passenger rail 
development from revenues generated from transportation oriented 
development.
  The National High Performance Passenger Rail Transportation Oriented 
Development Act aims to capture some of the increasing value of 
commercial development around station areas, which in turn would help 
finance rail corridor infrastructure and operational expenses. Besides 
providing a funding stream for intercity and passenger operations, the 
initiative places emphasis on intermodal connectors to create vibrant 
communities along the corridor. The legislation aims to begin a major 
public private partnership initiative that will revitalize America's 
rail infrastructure to create a true third passenger transportation 
option to highways and aviation while at the same time creating 
intermodal access communities.
  Under the proposal, the U.S. Department of Transportation will retain 
a Planning Developer who will establish guidelines for transportation 
oriented development programs, including special assessment districts 
or similar mechanisms to capture revenues from increasing commercial 
value. Rail corridor development funds will be established at the 
regional level to capture increasing real estate values. A stream of 
those revenues will be directed to support rail passenger operations.
  The proposal permits qualified projects to apply for federal 
incentives to finance construction and produce jobs. These incentives 
will include direct access to existing Federal Railroad Administration 
and Federal Transit Administration programs, including a high priority 
for federal transportation grant applications. The initiative will be 
staffed by existing employees and remain revenue neutral in that all 
program activities, including the work of the Planning Developer, will 
be repaid once the high performance rail service and commercial 
development is implemented and generating revenues.
  I hope that this bill will open a discussion on the possibilities and 
potential promise of passenger rail development in the U.S.

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