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loans). However, at this stage, all five approaches are viable. A successful program will likely include some or all of these options, and all options will be strengthened by collaboration among regional agencies (including MTC, ABAG, and transit agencies), local land use and development agencies, and private developers. The five basic approaches, outlined in more detail in the table below, are: 1. Capital Improvements Ad jacimt to Transik Stations and TODs By expanding the existing TLC Program to fund improvements associated with individual developments, MTC could provide funding for off -site or adjacent capital improvements such as streetscapes, bicycle and pedestrian facilities, transit station access routes that are often necessary to maximize the impact of TOD and infill. Often these improvements are required by local jurisdictions, but are difficult to finance through traditional means. This program would also be consistent with pol:ential uses of Federal transportation funds. This program could also fund public infrastructure improvements (including new streets, sewers, and utilities) necessary to facilitate development in underutilized areas around transit stations. The scale of this program is low to moderate in terms of both the scale of investment and the impact on TOD. 2. Parking Management Stratet ies MTC could provide financing for implemention of, demand management tools (such as carsharing and resident/employee transit passes), o neighborhood parking garages that could allow development to proceed with lower parking ratios elsewhere in the community and/ or could provide replacement parking for parking lost through Joint Development of surface parking lots. This approach supports the emergence of vital, transit - oriented communities while at the same time removing what is often a barrier to TOD and infill developments. Such a program could be used to augment existing Redevelopment Agency funding sources where appropriate. MTC's "Reforming Parking Policies to Support Smart Growth" already outlines the types of strategies and appropriate locations. Depending on the appropriate tools and strategies, the scale of both cost and impact of this approach can vary from low to moderate. 3. Direct Financing of TOD and In fill Expanding beyond the public benefits of capital improvements and neighborhood parking, MTC could provide funding for development. This program would be similar to the Portland Metro and Met Council LCDA programs in providing funding for a portion of the development that might otherwise be challenging to finance. The LCDA funding is limited to transportation and infrastructure uses (i.e. not for the residential or retail portions of the development), while the Portland program is intended to pay for the additional costs of building elements such as increased fire separation necessary with denser building types that might not otherwise be feasible in the market. Depending on the funding source and the program goals, MTC might need to restrict some of the eligible uses in this program as well. While the costs associated with this program option are moderate to high, they can generate a similar impact in terms of TOD implementation. Program Options for an Expanded TLC Program 73