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https://nap.nationalacademies.org/catalog/27432/critical-issues-in-transportation-for-2024-and-beyond

TERM Lite: Asset Assessment Tool for Transit Agencies

These projects support the efforts of the Los Angeles County Metropolitan Transportation Authority (MTA) and the Regional Transportation Authority of Northeastern Illinois (RTA), in partnership with the Federal Transit Administration (FTA), for the purpose of modifying FTA's Transit Economic Requirements Model (TERM) to be a user-friendly and useful tool for transit agencies in understanding the future condition of their assets under different investment scenarios (TERM-Lite). FTA will use TERM to evaluate the impact of various national-level investment scenarios on the conditions and performance of the nation's transit systems over the next 20 years. TERM can calculate the State of Good Repair backlog, normal replacement needs, and average conditions that result from various constrained funding scenarios for the transit industry as a whole. To promote better local asset management, FTA is adapting TERM to provide these capabilities for individual transit agencies so they can make similar calculations based on their own assets. LA MTA and Chicago's RTA are beta-testing TERM-Lite by using it to make projections and calculate backlog in the same way FTA does and by running different funding scenarios to explore their long-term capital investment needs, also as FTA does. FTA contractors are working with them to make TERM-Lite as user-friendly as possible.