(1) The department must review surplus property under this chapter in a county with a population over 2,000,000 that operates a municipal transit system and, in consultation with the county, select up to three park and ride facilities to conduct a pilot program to encourage transit-oriented development that meets the density and affordability requirements under RCW 36.70A.840.
(2) A park and ride selected for the pilot program must be:
(a) Situated along state route number 99 with 400 to 500 parking stalls;
(b) Situated on Interstate 405 with 500 to 900 parking stalls; or
(c) Located in the southern portion of a county with a population over 2,000,000 with between 300 to 1,000 parking stalls.
(3) For the purpose of the pilot program under this section, the department:
(a) May release any covenant imposed for highway purposes and replace it with a covenant requiring affordable housing;
(b) May not seek a reversionary interest in the property but may enact other remedies enforceable by law.