FY 2012 Capital Budget and FY 2012-2023 Capital Program - Septa
FY 2012 Capital Budget and FY 2012-2023 Capital Program - Septa
FY 2012 Capital Budget and FY 2012-2023 Capital Program - Septa
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TRANSIT PLANNING EFFORTS<br />
• PA Dept. of Community & Economic Development (DCED) Transit Revitalization Investment District (TRID) <strong>Program</strong><br />
Lead Agencies: Selected Municipalities / Community Organizations / PA DCED<br />
Description: The PA DCED has awarded grants to several municipalities <strong>and</strong> community organizations across the region for<br />
the purposes of developing a TRID. Through Commonwealth legislation enacted in 2004, a TRID became a legally defined<br />
area centered around a transit station. The TRID value-capture concept is designed to use anticipated increased property tax<br />
revenue resulting from redevelopment as leverage to help finance transit improvements <strong>and</strong> other public projects within the<br />
district. DCED has provided $75,000 to each recipient, with $25,000 required as local matching funds. SEPTA is actively<br />
involved in the TRID plans currently underway in the five-county region, including: Ambler, Bryn Mawr, Croydon, Marcus<br />
Hook, <strong>and</strong> Temple University Regional Rail Stations, <strong>and</strong> 46 th Street Station on the Market-Frankford Line. Final draft TRID<br />
agreements are in place for the Bryn Mawr, Marcus Hook <strong>and</strong> Temple University plans.<br />
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