“The RTD Board of Directors has approved a new “equitable” transit-oriented development (TOD) policy that the agency said “gives staff needed flexibility” when developers propose projects on surface parking lots, such as those adjacent to the station at Central Park or at County Line.
Developers are no longer required to replace parking spots on a one-to-one basis, which could “put a major dent in the project’s viability,” according to RTD. In exchange for easing such requirements, the new policy “allows RTD to set a non-binding goal that 35% of all housing developments on RTD property be priced as ‘affordable,’ starting at 60% of median area incomes as a benchmark, the agency explained. “Transit peers across the country also have such a policy, and RTD’s 35% goal is aligned with those of several California agencies, in the Bay Area and Los Angeles.” RTD is restricted from selling land below market value.
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Luczak, Marybeth. Railway Age 26 February 2021.