Maximizing Our Redevelopment and Efficiency for Transit Oriented Development Act of 2021 or the More TOD Act
This bill authorizes the Department of Transportation to provide transit-oriented development planning grants to states, local governments, or metropolitan planning organizations. These grants shall be awarded to assist in the financing of comprehensive planning that is associated with a new or existing fixed guideway capital system project.
Grants may be used to (1) enhance economic development, ridership, and other goals; (2) facilitate multimodal connectivity and accessibility; (3) increase access to transit hubs for pedestrian and bicycle traffic; (4) enable mixed-use development; (5) identify infrastructure needs; and (6) include private sector participation in facilitating a project.
A grant shall not exceed 80% of total project costs, except that a grant that includes an affordable housing component shall not exceed 90% of total project costs.