CONFERENCE ON TRANSPORTATION PARTNERSHIPS: IMPROVING URBAN MOBILITY THROUGH PUBLIC-PRIVATE PARTNERSHIPS, DALLAS, TEXAS, MARCH 14-15, 1984. WORKSHOP SUMMARIES: PUBLIC-PRIVATE COOPERATION IN TRANSPORTATION AND REAL ESTATE DEVELOPMENT--TRANSIT RELATED DEVELOPMENT: THE PRIVATE SECTOR ROLE

This workshop examined linkage between mass transit system development and associated real-estate development (joint development). There are many facets. Important elements of a successful strategy are: (1) public policy supportive of joint development; (2) strong real-estate capabilities in the transit organization for participation in system planning and design; (3) transit agencies' acceptance of the private development influence in joint planning; (4) use of development incentives such as density bonuses, tax-exempt financing, exclusiveness in stations and favorable lease terms; (5) commitment to project objectives with sufficient flexibility to deal with changing market and financial conditions (6) use of negotiated development approvals; (7) use of general benefit assessment districts to capture transit benefits and finance transit costs. New York City has much experience in these private/public deals. At the federal level, UMTA is exploring new financing strategies which reinforce public/private ventures that improve transit economics.