The Urban Redevelopment Authority of Pittsburgh (URA) is the

City of Pittsburgh Pittsburgh ( ) is a city in the Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County. It is the most populous city in both Allegheny County and Western Pennsylvania, the second-most populous city in Pennsyl ...

’s economic development agency, committed to creating jobs, expanding the City’s tax base, and improving the vitality of businesses and neighborhoods. The URA achieves this mission by assembling, preparing, and conveying sites for major mixed-use developments; and by providing a portfolio of programs that include financing for business location, relocation and expansion, housing construction and rehabilitation, and home purchases and improvements.

Public Projects

The URA is currently facilitating a number of large-scale real estate developments, including:
Hazelwood Green
* Bakery Square 2.0
Civic Arena Redevelopment
* East Liberty Transit Center *

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* Station Square

Impact

As of 2015, nearly $3 billion in private investment has been leveraged by $336 million in tax increment financing administered by the URA – a leverage ratio of 9 to 1. Between 2006 and 2012, the URA: * Issued 401 loans/grants totaling $580 million with $80 million of URA investment * Invested $348 million in economic development projects, leveraging over a billion dollars in total project costs * Leveraged $60 million in

tax increment financing Tax increment financing (TIF) is a public financing method that is used as a subsidy for redevelopment, infrastructure, and other community-improvement projects in many countries, including the United States. The original intent of a TIF program is ...

(TIF) to create $520 million in total investment * Initiated $545 million in housing development projects, creating 4,024 housing units with $138 million of URA investment * Provided $9.4 million in loans and grants to rehabilitate 611 housing units and $20.3 million in mortgage loans for the purchase of 422 housing units

References

{{Authority control Government of Pittsburgh Municipal authorities in Pennsylvania Urban development authorities