What is the purpose of a transportation
development district?
A transportation development district ("TDD") is a
separate political subdivision that may be created to fund, promote,
plan, design, construct, improve, maintain and operate one or more
transportation-related projects or to assist in such activity.
What types of projects may be financed by a TDD?
A TDD can finance any transportation-related improvement, including
any bridge, street, road, highway, access road, interchange,
intersection, signing, signalization, parking lot, bus stop, station,
garage, terminal, hangar, shelter, rest area, dock, wharf, lake or river
port, airport, railroad, light rail, or other mass transit and any
similar or related improvement or infrastructure. However, before
construction or funding of any project, a TDD is required to submit the
proposed project, together with the proposed plans and specifications,
to the Missouri Highways and Transportation Commission and/or the local
transportation authority for their prior approval. A "local
transportation authority" is a county, city, town, village, county
highway commission, special road district, interstate compact agency, or
any local public authority or political subdivision having jurisdiction
over any bridge, street, highway, dock, wharf, ferry, lake or river
port, airport, railroad, light rail or other transit improvement or
service.
How does a TDD finance a project?
Once created, a TDD can finance the costs of a project through the
imposition of (1) special assessments for those improvements that
specifically benefits the properties within the district; (2) a property
tax in an amount not to exceed $0.10 per $100 of assessed valuation; (3)
a sales tax up to a maximum of one percent; or (4) tolls and fees for
use of the project. A TDD may also issue bonds, notes and other
obligations and may secure its obligations by mortgage, pledge,
assignment or deed of trust of any or all of the property and income of
the district.
