A new rule issued by the U.S. Department of Transportation’s Federal Transit Administration (FTA) last week established new procedures for the federal government to spur better involvement and investment efforts in private transportation projects.
The Private Investment Project Procedures (PIPP) Final Rule gives grantees access to information about those items which might impede the use of public-private partnership or private investment in potential projects. These include FTA regulations, practices, procedures or guidelines. At the same time, the rule gives the FTA Administrator the ability to modify or waive some of those requirements if certain considerations are met, and so long as they do not waive other federal requirements.
“This Final Rule allows the public transportation industry to identify where there may be barriers to developing projects in concert with capable private partners,” FTA Acting Administrator K. Jane Williams said. “FTA is committed to encouraging innovation and streamlining project delivery while protecting the public interest.”
This potentially opens new doors for project planning, development, finance, design, construction, maintenance and operational efforts alike. The rulemaking for this began in July 2017, following a Congressional demand that the FTA address potential impediments to public-private partnerships, and was shaped with public input.