2014-2016 Report The Urban Redevelopment Authority is here for Pittsburgh.

Washington’s Landing Pedestrian Bridge URA completed 1999 Photo: Rob Larson In the 412.

In the neighborhoods.

In the businesses that keep Pittsburgh strong.

In the jobs that keep people thriving.

Here is investment.

Here is technology.

Here is leadership. Over the past few years, the We danced in Allentown, sipped coffee OUR BOARD Urban Redevelopment Authority in Homewood, wrote code with children of Pittsburgh continued leading in Oakland, and shot clay hockey pucks transformative growth in at a senior housing site in Carrick. We cut neighborhoods throughout the ribbon to expand manufacturing in the City of Pittsburgh. Under the West End, hiked what will be Pittsburgh’s leadership and vision of Mayor largest park in Hays, listened to poetry in William Peduto, the URA Central Northside, and waited no longer implemented many new initiatives than one minute for a bus in East Liberty’s aimed at creating the “Next Pittsburgh,” – new transit center. These are but a small one that’s more affordable, inclusive, sustainable, handful of the activities and projects competitive, and works for all. the Urban Redevelopment Authority of The Honorable The Honorable Pittsburgh undertook in 2014-2016. Ed Gainey Jim Ferlo Affordable and mixed-income housing remains a top priority so that Pittsburgh can truly become a We have weathered 15 years of steady Vice Chair Treasurer most livable city for all residents. Long-struggling declines in Federal and State resources neighborhoods saw the financial assistance and which are ever so critical to neighborhood resources needed to strengthen and grow. revitalization. Today we face uncertainty and potentially more dramatic The URA’s Center for Innovation and challenges ahead. Entrepreneurship (CIE) partnered with the City to create the new Roadmap for Inclusive However, through partnerships with Innovation with the goal of making innovation the City of Pittsburgh, Allegheny County, and technology work for all of Pittsburgh’s citizens. Pittsburgh Public Schools, other City The CIE’s loan and façade programs, business authorities, philanthropy, business resource fairs, Launchpgh.com, and PGH Lab stakeholders, community organizations, provided the tools and resources small businesses and others, the URA stands ready to The Honorable Cheryl and entrepreneurs needed to achieve success. advance initiatives aimed at making R. Daniel Lavelle Hall-Russell Pittsburgh a more affordable, more Here is the URA. Thanks to the p4 Pittsburgh Summit, brought inclusive, more livable, and more to Pittsburgh by the Mayor and The Heinz competitive city. Endowments, the URA will be equipped with a set of performance measures to guide investment As we reflect on the 70th anniversary decisions, leverage new economic opportunities, of the incorporation of the URA, and ensure equitable development. we continue to evolve and to innovate, and we remain as relevant as ever. The Comprehensive Land Recycling Initiative, with its systems-level reform of all relevant And the world is taking notice. branches of local government to modernize and align policies and processes related to land Robert Rubinstein Robert interaction, will optimize the City’s efforts to Executive Director, URA reclaim distressed properties, eliminate blight, Rubinstein and bring new investment into our communities. Executive Director As we continue to face declining federal and state funding for core development and housing projects, the URA remains competitive by investing locally. Through thoughtful economic development strategies, the URA was instrumental in creating and retaining tens of thousands of jobs, with projects totaling close to $5 billion of investment in our city. The URA will continue to use these best and creative practices to grow jobs and the City’s tax base and champion community-driven development as a vital part of Pittsburgh’s continued transformation. Kevin Acklin Chief of Staff, Office of Mayor William Peduto URA Board Chair URA Total Center for Innovation and Entrepreneurship, Housing, and Economic Development Investments 1/1/2014 - 12/31/2016

NUMBER OF TOTAL JOBS TO BE HOUSING COUNCIL LOANS / URA PROJECT CREATED AND UNITS AFFORDABLE DISTRICT GRANTS INVESTMENT COST RETAINED CREATED UNITS

1 56 $9,216,734 $59,127,899 152 47 36

2 25 $2,356,738 $7,003,493 30 18 16

3 56 $10,293,144 $344,702,642 2,911 286 73

4 22 $4,713,538 $18,515,237 47 81 70

5 55 $101,282,795 $1,200,349,355 4,862 35 32

6 124 $87,782,051 $1,111,297,596 6,571 173 152

7 97 $50,637,520 $603,092,721 1,673 99 73

8 18 $6,156,037 $23,674,338 334 2 1

9 132 $62,014,302 $654,736,032 2,075 328 213

GRAND TOTALS 585 $334,452,859 $4,022,499,313 18,655 1,069 666 “To be truly inclusive, Pittsburgh’s The Center technology boom has to be accessible for all for Innovation & …this plan will enable us to be a model for cities around the country in providing equitable services and opportunities for residents and Entrepreneurship businesses in every neighborhood citywide.” William Peduto Mayor, City of Pittsburgh Innovation

CIE Roadmap for Inclusive Innovation Startup and growing small businesses INITIATIVES Pittsburgh has positioned itself to become a are the engine of our economy. Keystone Innovation city of inclusive innovation by providing equal Zone (KIZ) Tax Credits access to products and services through new technology, ideas, personnel, and inventions. This sector creates the vast majority Between 2014-2016, Pittsburgh Central KIZ provided 55 companies with more than $3 million in tax credits. Greater Oakland new partners committed websites developed of new jobs across every industry, to promoting inclusive to publish, update, and KIZ awarded 39 companies more than 34 9 innovation promote new initiatives $2 million in tax credits. and resources in across every geography Pittsburgh PGH Lab free and accessible 60+ innovation events for in the nation. The 2016 launch of PGH Lab marked the citizens to engage beginning of a public-private partnership with the city, roadmap actions on-track The URA is committed to supporting the between the city government and local partners, resources, or complete and services 60 next generation of creators, thinkers, startup companies with the potential to make social, economic, and environmental impacts innovators, and inventors to foster new in Pittsburgh. collaborative initiatives people connected entrepreneurship and support business 17 comprised of diverse civic 70K+ with the city online LaunchPGH and business leaders expansion in Pittsburgh. addressing one or multiple LaunchPGH.com connects entrepreneurs Roadmap for Inclusive Through the CIE, the URA administers with business resources, workshops, Innovation focus areas and supports a variety of tools to achieve office space, competitions, and events. Between 2014-2016, the number of sessions this mission: grew from 8,249 to 14,362. Small Business Resource Fairs (SBRF) • Access to capital Steel City Codefest These fairs provide ongoing opportunities From 2014-2016, Steel City Codefest • Support of Pittsburgh’s entrepreneurial ecosystem for new entrepreneurs to find resources attracted 200+ participants, resulted in to start and grow their businesses. several successful apps, expanded to include • Roadmap for Inclusive Innovation From 2014-2016, there were Codefest Jr., and became a weeklong event 25 Small Business Resource Fairs • Business expansion and attraction: in conjunction with Inclusive Innovation Week. in 16 Pittsburgh neighborhoods. Business Action Team

2016 Steel City Codefest Photo: J. Altdorfer Photography 8 | 9 URA 2014-2016 Report The Center Ace Hotel Pittsburgh lobby Social House Seven façade for Innovation & Photo: Ace Hotel Photo: courtesy of Adam DeSimone Entrepreneurship

Entrepreneurship Neighborhoods URA Neighborhood

BUSINESS TOTAL FAÇADE Business District Program FINANCING RENOVATIONS The URA Neighborhood Business District THREE 69 SUCCESS STORIES 170 Program helps business district groups Ace Hotel Pittsburgh throughout the city revitalize their URA loans façade renovations Located in the formerly vacant YMCA building commercial corridors. The URA works with in East Liberty, the Ace Hotel benefited from several communities on a range of activities, from $ URA financing programs and strategic partnerships 10,376,286 for its historic preservation and creative adaptive reuse. $ planning, capacity building and technical 2,148,930 assistance to direct project grants. in URA investments Proud Company in URA investment The Proud Company provides manufacturers, utility companies and other industrial technology users with BETWEEN $ complete industrial automation services. It utilized 2014-2016 51,821,116 $1.92 million in New Markets Tax Credits, provided by $ total project costs the URA through Pittsburgh Urban Initiatives, to help 8,948,696 finance its renovation of a 23,000-square foot facility total project costs 25 in the West End. neighborhood business Photo: proudco.com districts served 559 Smallman Galley jobs created and retained The URA provided a $150,000 loan to help fund the Strip District food hall and restaurant incubator to bring valuable business experience to aspiring chefs and “Take a walk through Allentown or Garfield, $ restaurateurs. the Cultural District or Lawrenceville; head 650,000 for the North Side or the Hill or Homewood in funds awarded for and chances are you’ll see a building that’s planning, development and been refurbished thanks to the Urban promotional activities Redevelopment Authority’s four façade improvement programs.” NEXTPittsburgh

Smallman Galley co-owners Tyler Benson and Ben Mantica Photo: Jeff Swensen 10 | 11 URA 2014-2016 Report Economic URA ECONOMIC DEVELOPMENT Economic Development DEPARTMENT FUNDING AUTHORIZED, Infrastructure & Stats SECURED OR DEPLOYED 2014-2016 Development Federal $18,476,168 State $143,684,051 Tax Diversion $120,576,561 2014-2016 Economic Other Local $8,022,000 Development Production Investing in our city. Impacting our GRANT FUNDING future. 64 projects $ 170 million 6,300 jobs Our local taxing bodies— received funding across in local, state, and federal to be created or retained the City of Pittsburgh, all nine council districts funding has been authorized, by these projects secured, or deployed by the Pittsburgh Public Schools URA for these projects and Allegheny County— have been the silent champions of redevelopment in our city. $ 18 million $1.9 billion Beyond the four projects in federal funding secured in total investment featured here, there are many or deployed by the URA for these projects success stories illustrating the South Side Marina Photo: Bill Garrison, Zell Engineers, Inc. impact achieved through local TAX DIVERSION FINANCING public investment. East Liberty $ These include but are not limited to: Transit Center projects billion The URA facilitated 5 1.8 were authorized for • Encouraging transit-oriented development $54 million in local, in total investment anticipated state, and federal tax diversion financing for these projects • Prioritizing equitable development investment in the $158 million Eastside Photo: • Upgrading antiquated infrastructure Steven Mosites Transit-Oriented Development project $ • Preserving historic assets on six acres of blighted 120 million 10,000 jobs and idle property, • Promoting dense and walkable communities including a state-of-the- million in tax diversion to be created or retained by art multimodal transit financing (TIF/TRID/PTD) has these projects • Reconnecting communities to riverfronts center, new streets and been authorized or deployed improved mobility. by the URA

Developer: Mosites Company 12 | 13 URA 2014-2016 Report Economic Other 2014-2016 URA Economic Development Development projects that have helped improve the quality of life in our neighborhoods while driving economic vitality include: • Hays Woods • South Side Works Tax Increment Financing Economic Development (TIF) District By investing • South Shore Riverfront Park and Marina • URA Garage Lighting Retrofit Infrastructure in ourselves, • Union Trust Building • South Side Works City Apartments • Uptown NRG District-Energy Plant Bakery Square 2.0 First Green Street we position our The URA secured $2.4 million in federal and state funding to construct $4.2 million (leveraged) in public city for growth streets and related infrastructure resulting in a strong economic impact. A total of $150 million was invested in the project and the city’s first green street includes and improvement. raingardens, gravel infiltration beds and porous- pavement parking lanes to capture and retain significant stormwater runoff.

Developer: Walnut Capital Photo: Mark Grasso, Oxford Development Company Three Crossings Public Space Improvements The URA facilitated $1 million in Parking Tax Diversion (PTD) financing for public space improvements within the Three Crossings development in the Strip District. The URA also channeled $2.3 million in state funding to support the construction of the overall $210 million mixed-use development. Developer: Oxford Development Company

Gardens at Market Square Site Assembly In 2003, the URA began assembling seven underutilized properties that became the Gardens at Market Square development in the Central Business District. The URA then facilitated $8.6 million in tax increment financing, secured a $7 million New Markets Tax Credits allocation through its affiliate Pittsburgh Urban Initiatives and channeled $4.5M in state funding to enable the $111 million mixed-use project. Developer: Millcraft Investments

Photo: Connie Zhou, Living Place, the new Complete Street, courtesy of Millcraft with porous paving and rain gardens Photo: Dennis Marsico Company 14 | 15 URA 2014-2016 Report Economic Development

Pittsburgh City of Asylum Pittsburgh Gateways Corporation City of Asylum and Alphabet City Asylum and City of Photo: Energy Innovation Center Photo: Urban Initiatives, City of Asylum Energy Innovation Center (EIC) Located in the heart of Pittsburgh’s Located in Pittsburgh’s Hill District, the EIC NMTC LLC & New Markets North Side neighborhood, The City is the transformation of a long closed former BY THE NUMBERS of Asylum is a creative collaborative technical trade school into a cutting-edge, of artists, writers and community workforce development training center Total cost of all projects Tax Credits in the long vacant, former Masonic for the green economy. New Markets Hall. Today, the building hosts Tax Credits were paramount in filling a $ performance spaces, a restaurant, financing gap and attracted a variety 591,179,000 bookstore, eight apartments, and of other public and private financing sources is headquarters for an organization to complete the important job creating whose mission is to provide project. The EIC co-locates collaborative Turning urban blight sanctuary for exiled writers from university industry partners, technology Total construction jobs around the world. New Markets Tax demonstration projects, an early stage Credits helped provide necessary business incubator, and targeted workforce into urban might . financing to complete the full training and placement programs. It now 2,344 historic renovation of the former stands as a long-term asset for the city in Masonic Hall into this important training, research and job creation. community development. Developer: Pittsburgh Gateways Corporation Total permanent jobs The URA’s Pittsburgh Urban Initiatives Developer: City of Asylum and Pittsburgh Green Innovators (PUI) strategically invests in office, 7800 Susquehanna Photo: 2,814 Larisa retail, mixed-use, and community 7800 Susquehanna is the Bodnarchuk, RIDC facility developments to rehabilitate re-imagination of a 156,000-square foot, long vacant and underutilized Affordable housing units abandoned and blighted city sites. industrial building in Homewood created PUI was created in order to apply for into a job creating engine. New Markets Tax Credits provided Lawrenceville Technology Center and facilitate New Markets Tax Credit necessary financing to create Leveraging Pittsburgh’s place as a world 293 (NMTC) distribution for projects in affordable space for maker leader in robotics and machine learning/ and craft manufacturers, artisans, artificial intelligence technologies, the the city and to invest in low-income and workforce development Lawrenceville Technology Center fills an neighborhoods that show the potential organizations, generating new important business and job creating need for Total housing units created businesses, jobs, and economic the city of Pittsburgh, providing research and for sustainable growth. opportunity to Homewood and development space for some of the region’s the City of Pittsburgh. Trade Institute Pittsburgh at 7800 Susquehanna most important job creating technology 417 Photo: Bridgeway Capital Developer: Bridgeway Capital firms, including Carnegie Robotics, Helomics, nanoGrip Technology, and Uber. New Markets Tax Credits provided financing to help redevelop the long closed former Heppenstahl Steel industrial site into what is today a job creating urban technology park. Developer: Regional Industrial Development Corporation (RIDC)

16 | 17 URA 2014-2016 Report Housing Jessica Smith Perry, URA Jessica Smith Perry,

When you provide good people Hillcrest Ground Breaking Photo: with good places to call home, Hillcrest Residences-Carrick Success Located in the Carrick you transform neighborhoods. neighborhood, Hillcrest Senior Stories Residences is the redevelopment of a vacant former grocery store The URA Housing Department provides a range of into a new, 66-unit mixed-income Penn Mathilda Apartments-Bloomfield services to support the purchase, renovation and/or senior living center — 56 of Penn Mathilda Apartments is the which will be affordable. The URA transformation of a blighted property development of housing units in the City of Pittsburgh provided $2.1 million in financing that sat vacant for years into a vibrant with a particular focus on affordable housing. for the $15.8 million development. neighborhood asset. The URA provided Developer: The Community Builders $1.4 million in gap financing for this $11.6 million mixed-use development which These efforts help preserve housing stock, provide consists of ground-floor commercial space a range of housing options, stabilize neighborhoods with 39 affordable apartments on the two Bonvue Street-North Side upper floors; half of those units house and increase the tax base. The Bonvue Street Revitalization veterans of the U.S. Armed Services. project is the redevelopment of Located at the gateway to the Penn These services include: abandoned and blighted properties Avenue Arts District, the development is to improve the quality of life in the close to many neighborhood amenities. • Gap financing to support the Observatory Hill neighborhood, Developers: Action Housing, Inc. development of catalytic new attract new businesses, and and Bloomfield-Garfield Corporation and/or substantially rehabilitated provide affordable homeownership for-sale or rental housing units opportunities. The URA provided $400,000 in construction financing • Project management for large scale for the $945,000 development – a community development efforts such five-unit homeowner rehabilitation as the Larimer/East Liberty Choice - and will provide deferred second Neighborhood project Bonvue Nail Pounding mortgages to make the homes Photo: Jessica Smith Perry, URA more affordable. • Grants and low-interest loans to Developers: The Observatory Hill homeowners to acquire and renovate Development Corporation and Northside owner-occupied structures Leadership Conference

• Staff for URA housing development affiliate Pittsburgh Housing Development Corporation to work with community organizations to provide real estate development capacity in underserved markets

Larimer Choice Neighborhoods Phase 1 Photo: McCormack Baron Salazar Action Housing Nate Rice, courtesy of Penn Mathilda Apartments Photo: Jason Snyder,

18 | 19 URA 2014-2016 Report Apartments Penn Mathilda Photo: courtesy of Action Housing Housing

Affordable Housing

The URA participates in the City of Pittsburgh’s Affordable Housing Task Force (AHTF) and has a distinguished

history of investing in affordable housing McCormack Baron Salazar

throughout the city’s 90 neighborhoods. Larimer Choice Neighborhoods Housing Phase 1 Photo: As the city’s economy grows, housing demand can create increasing pressure Larimer Project on affordability, particularly for lower Larimer Community space interior Photo: McCormack Baron Salazar income households. Choice Neighborhoods THE PLAN Choice Neighborhoods URA-supported housing transforms Initiative (CNI) neighborhoods, protects affordability Implementation Grant $400 million overall development 355 mixed-income housing units Beginning in 2017, the URA for Pittsburgh residents, and enhances planned will assist CNI homeowners Larimer Choice Neighborhoods Housing Phase 1 In 2014, the U.S. Department of with home repair in order to Photo: McCormack Baron Salazar One of the greenest housing the value of our communities. Housing and Urban Development developments in the US protect and enhance their $24.2 million 85-unit Phase I home’s value. The URA’s robust We do this through: (HUD) awarded Pittsburgh mixed-income housing development community planning process a $30 million grant to help completed also led to the development Construction loans and Low-interest loans Façade improvement program of a multi-phase park strategy for neighborhood homeowners grant gap financing that and grants to support transform the struggling Larimer for portions of East Liberty promote new construction, homeownership, neighborhood, strengthen its ties Parks and green infrastructure and Larimer. leverage private funds, and the rehabilitation of For-sale housing development increase the city’s tax base owner-occupied housing with neighboring East Liberty, Job creation Larimer Pointe units, and the purchase and provide new mixed-income Preservation of historic In 2015, KBK Enterprises, Inc. Working with both and renovation of housing community assets and the Larimer Consensus for-profit and non-profit for homeownership housing. The city collaborated Group completed Larimer’s first developers to structure with the Housing Authority new residential construction individualized financing in more than 50 years. programs that work of the City of Pittsburgh (HACP), long-term to create the URA, McCormack Baron $1 million in URA gap financing sustainable housing $13.5 million development developments with and Salazar (MBS) and Larimer/ 22 buildings a particular focus on 40 units of amenity-rich affordable housing East Liberty community groups affordable housing on the application. Certified Enterprise Green Community

20 | 21 URA 2014-2016 Report Housing Real Estate /

REAL ESTATE Landbanking TRANSACTIONS N3D Hilltop FOR 2014-2016 Photo: Rob Larson, courtesy of NEXTpittsburgh Properties bought

The URA is responsible for the acquisition and 237 Next 3 Days disposition of various properties for the purpose Properties sold of assembling sites for redevelopment.

Obama Academy Marching Band at N3D Garfield It also acts as an agent for the 274 Next 3 Days (N3D) was created by Photo: John Columbo, courtesy of NEXTpittsburgh City of Pittsburgh in the Mayor’s Office, the URA, and The Department of Real Estate assembling properties manages the URA’s portfolio of NEXTPittsburgh to showcase an Friday Night Block Party Neighborhoods featured for city-sponsored nearly 1,400 properties, including emerging neighborhood in one To kick off the weekend, identifying and acquiring property TROY HILL, MT. WASHINGTON, projects. for development projects, ensuring the Friday Night Block Party 4 ALLENTOWN, GARFIELD action-packed, three-day weekend. is held at a neighborhood the maintenance of the URA’s portfolio venue and features local (LandCare), leasing property for N3D promotes affordable housing Total attendance entertainment and food. short-term uses, vetting interested and celebrates neighborhood culture, and eligible purchasers - including Saturday Celebration individuals and non- and for-profit businesses, and amenities to attract 2,000 developers, and ultimately selling new residents and consumers The N3D Saturday Festival properties. celebrates community Local businesses highlighted to the neighborhood. business, artists, performers, In 2016, the URA Department of Real residents, traditions, and Estate became the Administrator of culture. Bake-offs, dance- N3D 70 the nascent Pittsburgh Land Bank, offs, tours, art markets, and TO DATE assisting its Board of Directors neighborhood storytelling are Local artists and in creating the structure and just some of the festivities. operations of the new entity, Troy Hill - October 2015 entertainers featured ensuring it carves out a distinct Homebuyer/Homeowner Fair and complementary role to the N3D also includes a 80 URA and the City of Pittsburgh, Mt. Washington & Homebuyer/Homeowner focusing on eliminating blight and reclaiming distressed Allentown - June 2016 Fair to spotlight local lenders, Neighborhood houses the URA, NeighborWorks, properties. listed for sale and other resources for Garfield - September 2016 residents and prospective Pittsburgh Economic neighbors. 116 Industrial Development Corporation Sunday Real Estate Tour Neighborhood stories told LandCare at work Housed within the N3D Sunday includes a Photo: LandForce Department of Real Estate, self-directed, mapped tour too many PEIDC manages the of homes for sale in each commercial and industrial neighborhood. to count! portfolio of the URA, including property and tenant management. Urban Matters 2.0 graduating class Photo: courtesy of Urban Matters

Equitable Urban Matters

Development Urban Matters is a URA arts and education The p4 program rooted in social justice. Its primary Summit goal is to cultivate a more civically educated and engaged group of young people in Everyone participates in and benefits from the Pittsburgh’s most distressed and predominately region’s economic transformation – especially low- In Spring 2015, Mayor URBAN MATTERS African-American communities. HIGHLIGHTS income residents, communities of color, immigrants, Bill Peduto and the Heinz Landbanking 412- a documentary and others at risk of being left behind. Equitable Endowments brought the Urban Matters participants use research, short that answers the question, “What is landbanking?” development requires an intentional focus on first p4 Summit to Pittsburgh. interviews, and art to create tools to help Creation of a community resource website by Greater Hazelwood eliminating racial inequities and barriers and It utilized the themes “people, demystify urban policies and increase Matters to keep citizens updated on the Almono development happening making investments that yield healthy, safe, planet, place, and performance” participation in decision-making processes within their neighborhood. and opportunity-rich neighborhoods (p4) as an organizing that impact and shape their communities. Get Into Pittsburgh Water - a film that garnered input around the various that reflect each one’s framework to grow jobs, storm water issues negatively affecting the quality of the city’s unique culture. mobilize capital, rejuvenate drinking water. neighborhoods and improve lives. The goal of the toolkit was to Greater Beltzhoover help turn what many consider to be a neighborhood that lacked p4 2016 The Equity Working Group investment into one that is thriving Photo: Joshua Franzos Photography Toolkit & Housing People and equitable and growing. The kit provides development are critical to references, tools, resources, the URA mission. The Equity Style Guide and examples that residents Working Group incorporates and community organizers can best practices for equity use to spearhead the types of and inclusion into the URA’s projects they’d like to see in their internal and external policies In 2015, UDream fellows and URA interns own neighborhood, as discussed and activities, and works created and published the Greater Beltzhoover in community meetings. with PolicyLink, UrbanKind, Following the success of the Neighborhood Allies, Urban Toolkit – the third in a series of the URA’s Greater Beltzhoover Toolkit, Innovation21, and the City community-focused collection of neighborhood the complementary Beltzhoover of Pittsburgh. design books. Its predecessors, the Central Housing Style Guide was created in 2016, focusing on housing styles Northside and Schenley Heights Toolkits, throughout the neighborhood. An easy first-steps guide for future were published in 2013. development, this information helped create a vibrant and livable urban community that understands and acknowledges its own unique patterns.

24 | 25 URA 2014-2016 Report Financials 2014 URA $4,675,000 3% URA 2014 $1,390,000 1% $37,104,414 26% Revenue $22,996,575 16% Expenses $8,799,124 6% $24,349,486 17% $13,965,593 10% Sources $72,968,620 51% $6,773,328 5% $2,175,347 2% $76,723,564 53% $8,005,000 6% $5,953,204 4% City (Federal Pass Through) includes Community Debt Payments represent principal $143,366,023 100% Development Block Grant and HOME Investment and interest paid by URA on bond debt Partnership Program funds allocated to the URA $142,513,232 100% issued and other financing obtained through the City of Pittsburgh. to support specific projects and programs.

City (Direct) includes funds received directly Administration from the City of Pittsburgh from City capital bond 2015 issues and its PAYGO funding. Housing and Business loans expenditures relate to the various loan and grant programs TIF & PTD Tax Increment Financing and Parking $5,894,130 5% offered by the URA to support the improvement 2015 Tax Diversions represent investments by the City, of the quality of life of all Pittsburgh residents. Allegheny County and School District of Pittsburgh $4,241,433 3% Programs include a portfolio of programs whereby new tax increments from major for the business financing, including business $30,187,774 25% development projects are pledged to fund $16,394,174 13% relocation and expansion, business attraction $8,886,702 7% infrastructure improvements. $25,227,568 20% as well as housing construction, home purchase, and home improvement. $16,508,459 13% Loan Repayments include principal and interest $60,346,176 47% received from URA’s direct lending programs Property Management & Improvement $5,793,097 5% for business expansion, residential acquisition, $2,873,157 3% represents the cost of holding and maintaining $61,998,999 50% improvement, and development, and commercial $7,000,000 5% URA-owned properties. Costs include property and mixed-use development. maintenance and management, building $5,867,524 5% stabilization and security, and utility and State & Federal Projects include funds from insurance costs. $123,375,031 100% the Commonwealth of Pennsylvania such as Redevelopment Assistance Capital Program, $127,844,162 100% Major Projects the majority of URA Industrial Site Reuse Program, Keystone expenditures are for Major Projects located Communities, Industrial Facilities Improvement throughout the City of Pittsburgh, including Program, Department of Community and Natural PA Redevelopment Assistance Capital Resources, and others. Federal funding includes 2016 Program awards. HUD Upfront Grants, competitive awards from the Economic Development Administration and the Department of Transportation, and others. $5,455,445 5% 2016

Fees and Other include the program fees $2,427,200 2% charged for URA administration including $26,213,185 22% inspections, loan servicing and compliance. $13,241,266 11% Addition revenue is generated via investment $21,976,959 18% $9,191,376 8% of URA funds. $65,390,972 55% $15,002,820 13% Debt Proceeds include loan and bond proceeds $6,562,301 6% received for use in URA projects. These proceeds $2,878,181 2% are restricted in use to the project for which the $7,696,286 7% $60,556,349 51% debt was incurred and will be repaid from pledged revenue sources derived from the respective project. $119,066,309 100% $117,526,031 100% Property Leases & Sales revenue arises from leasing URA-owned-and-operated property.

Design: walltowall.com The URA advanced $3.2 million in Parking Tax Diversion (PTD) financing for public infrastructure improvements to the Union Trust Building.

Urban Redevelopment Staff, lobby of Union Trust Building, February 2017

200 Ross St. P: 412.255.6600 .org Pittsburgh, PA 15219 F: 412.255.6617 ura [email protected]