Federal Transit Administration issues the Private Investment Procedures (PIPP) Final Rule
The U.S. Department of Transportation’s (U.S. DOT) Federal Transit Administration (FTA) issued the Private Investment Project Procedures (PIPP) Final Rule that describes new procedures aimed at helping the federal government develop more effective approaches to spurring private participation and investment in project planning, development, finance, design, construction, maintenance, and operations.
There are numerous opportunities where the private sector can engage in the public transportation industry, ranging from private operators participating in the planning and transportation improvement program process to a public-private partnership, in which a private firm participates in the design, building, finance, operation, and maintenance aspects of a transit facility. Other examples of private sector participation include Joint Development, Capital Leasing, and Third Party Contracting.
PIPP allows grantees the ability to identify FTA regulations, practices, procedures or guidance that may impede the use of a public-private partnership (P3) or private investment in that project. The FTA Administrator would have discretion to grant a modification or waiver of a requirement if certain criteria are met. PIPP could not be used to waive any requirement under the National Environmental Policy Act (NEPA) or any other provision of Federal statute.
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