In addition to the activities described above, the FAST Act expanded eligible purposes to include financing economic development, including commercial and residential development, and related infrastructure and activities, that (i) incorporate private investment, (ii) is physically or functionally related to a passenger rail station or multimodal station that includes rail service, (iii) has a high
probability of the applicant commencing the contracting process for construction not later than 90 days after the date on which the RRIF loan or loan
guarantee is obligated, and (iv) has a high
probability of reducing the need for financial assistance under any other Federal program for the relevant passenger rail station or service by
increasing ridership, tenant lease payments, or other activities that generate revenue exceeding costs (Transit - Oriented Development Projects or TOD Projects).