Shant Boyajian Quoted on Biden Administration’s Discontinuation of Cost-Share Rule for Transit
Shant Boyajian was quoted in the Law360 article, "Biden Pulls Trump Cost-Share Rule In Boost For Transit" (subscription required). The article examines the Biden Administration's recent discontinuation of a Trump Administration policy effort to minimize federal funding share for capital costs of transit projects.
To accomplish this, the U.S. Department of Transportation's Federal Transit Administration rescinded a "Dear Colleague" letter from 2018, which directed that federal loans were not eligible to be counted toward state and local governments' share of the tab for transit improvement projects, despite the fact that the loans would be repaid with non-federal funds.
Commenting on the move, Shant said, “By rescinding this letter, as FTA did today, there is no longer any question as to whether these policies will take effect in the future. This rescission represents a significant positive development for large transit capital projects and clarifies that federal financing tools repaid with local funds will count towards the required local match."