Transit-Oriented Development (TOD) refers to the planning and development of urban areas centered around public transportation hubs, such as train stations, bus depots, or subway stops. This approach aims to promote higher-density housing, commercial spaces, and mixed-use developments within walking distance of these transportation points. The goal is to reduce car dependency, improve access to public transportation, encourage sustainable development, and create vibrant, livable communities. TOD helps cities grow in an organized manner, providing economic, environmental, and social benefits.

5-Point Compliance Requirement Summary of Financial Impacts

1. Local Businesses:
   • TOD policies encourage investment in local businesses by requiring a certain percentage of contracts to be awarded to small, local companies, providing them with a direct financial benefit and access to larger development projects.
2. Workforce Development:
   • TOD projects often come with workforce training programs, which provide local residents with job-ready skills, opening doors for financial stability and higher-paying employment in construction, retail, or transportation-related fields.
3. Affordable Housing Initiatives:
   • TOD mandates that a portion of new housing developments be set aside as affordable, benefiting lower-income residents financially by providing accessible housing options near public transit.
4. Public-Private Partnerships:
   • TOD encourages financial collaboration between government entities and private investors, increasing funding for public infrastructure like transit stations and improving local economies through enhanced services and amenities.
5. Tax Incentives and Credits:
   • TOD developments may qualify for tax incentives or credits, making it more affordable for developers and encouraging long-term economic growth. These incentives can help businesses lower their operating costs and boost profits while benefiting the local economy.

How Local Small Businesses, Nonprofits, and Community Members Can Use TOD for Quality of Life Improvements

• Access to Small Business Contracting Opportunities:
  • Local businesses can benefit from TOD projects by contracting with developers for construction, retail spaces, or transportation-related services.
  • Example: A local construction company might be hired to build affordable housing units, ensuring jobs for local workers and contributing to economic development.
• Workforce Training and Job Creation:
  • TOD policies often require developers to include workforce training programs, ensuring that residents gain the skills needed for employment in new developments, such as construction or customer service.
  • Example: A nonprofit focused on workforce development could partner with TOD developers to offer training in construction skills or retail management, preparing local workers for high-demand jobs.
• Community Benefit Investments:
  • TOD can drive investment into local infrastructure, such as parks, schools, and community centers, improving residents’ quality of life.
  • Example: A TOD project might include new public spaces, increasing the value of the surrounding area and providing more recreational opportunities for families.
• Sustainable, Green Development:
  • TOD focuses on environmentally sustainable building practices, which can help reduce long-term costs for residents, like utility bills, by promoting energy-efficient buildings.
  • Example: Local community groups may work with TOD developers to ensure that the buildings use green energy technologies, lowering operating costs and benefiting the environment.
• Increased Local Access to Public Services:
  • By concentrating development near public transit hubs, TOD can reduce transportation costs for local residents, providing easier access to jobs, education, and healthcare.
  • Example: A local resident might use public transportation to commute to a new job created by a TOD project, reducing their need for a car and saving money on transportation expenses.

Through these elements, TOD can support local businesses, create jobs, and enhance community benefits, all while providing affordable housing and fostering economic growth. These initiatives, when designed with local needs in mind, help improve the overall quality of life for residents.