The CHARGE Investments Act expands federal loan and loan guarantee programs to support housing and commercial development near public transit stations. Specifically, the bill allows the federal government to finance residential and commercial projects located within a quarter-mile of fixed rail transit stations (or within two miles of downtown areas served by intercity rail), provided that private investors contribute at least 20 percent of the project costs. The legislation targets areas outside traditional downtown cores that lack intercity rail service, aiming to spur economic development and housing growth in communities near rail infrastructure. By amending federal railroad rehabilitation programs, the bill essentially redirects existing financing tools to incentivize transit-oriented development that combines private and public investment. The bill affects developers, municipalities, and transit agencies seeking federal financing for housing and commercial projects near rail corridors and would make these projects newly eligible for federal support.
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