Urban Redevelopment Authority of Pittsburgh

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Urban Redevelopment Authority of Pittsburgh (URA)
URA Logo.jpg
Agency overview
Formed 1946 (1946)
Jurisdiction City of Pittsburgh
Headquarters 200 Ross Street
Pittsburgh, Pennsylvania
40°26′12.34″N 79°59′48.16″W / 40.4367611°N 79.9967111°W / 40.4367611; -79.9967111
Agency executives
  • Robert Rubinstein, Executive Director
  • Kevin Acklin, Chairman
Website www.ura.org

The Urban Redevelopment Authority of Pittsburgh (URA)[1] is the City of Pittsburgh’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:

SouthSide Works brownfield redevelopment

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.[2]

Between 2006 and 2012, the URA:[3]

  • 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 (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

  1. ^ "About Us". Urban Redevelopment Authority of Pittsburgh. 
  2. ^ "2015 TIF Annual Report" (PDF). Urban Redevelopment Authority of Pittsburgh. 
  3. ^ "2013 Annual Report" (PDF). Urban Redevelopment Authority of Pittsburgh. 
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