TOD is a special form of joint development which involves pedestrian-friendly, higher-density residential, commercial, and/or retail development near transit facilities. TODs may involve a partnership of private developers with local governments, development agencies, and transit agencies to enhance the land use surrounding a transit facility. With a TOD, the private developer is typically responsible for the financing and risks associated with constructing the development on publicly owned land. The potential benefits of TODs include revenue enhancement for the sponsoring agency from lease payments, ridership increases, capital or operating contributions, or one-time fees; increased economic development, higher land values, and increased rental income; increased property and sales tax revenues; and reduced congestion and sprawl.