The Urban Redevelopment Authority of Pittsburgh (URA) is the

City of Pittsburgh Pittsburgh ( ) is a city in Allegheny County, Pennsylvania, United States, and its county seat. It is the second-most populous city in Pennsylvania (after Philadelphia) and the List of United States cities by population, 67th-most populous c ...

's economic development enterprise, committed to building a prosperous and equitable economy for the City. The URA helps bridge public and private interests to invest in financially viable equitable developments that promote housing affordability, economic mobility, entrepreneurship and neighborhood revitalization. Its work creates and sustains quality jobs, thriving neighborhoods, healthy communities and sustainable businesses for the benefit of all Pittsburghers.

Impact

As of 2015, nearly $3billion in private investment has been leveraged by $336million 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 $580million with $80million of URA investment * Invested $348million in economic development projects, leveraging over a billion dollars in total project costs * Leveraged $60million 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 i ...

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

References

{{Authority control Government of Pittsburgh Municipal authorities in Pennsylvania

Pittsburgh Pittsburgh ( ) is a city in Allegheny County, Pennsylvania, United States, and its county seat. It is the List of municipalities in Pennsylvania#Municipalities, second-most populous city in Pennsylvania (after Philadelphia) and the List of Un ...