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Pittsburgh Urban Initiatives

Making Tax Credits a Reality

Pittsburgh Urban Initiatives (PUI), a URA affiliate, catalyzes investments in low income neighborhoods by applying for and facilitating New Markets Tax Credits.

Pittsburgh Urban Initiatives (PUI) is Limited Liability Company certified as a Community Development Entity (CDE) by the Treasury Department’s Community Development Investment Fund (CDFI).  As a CDE, PUI is able to apply for and facilitate New Markets Tax Credit (NMTC) investments for projects in the city that benefit low-income neighborhoods.  

PUI’s mission is to strategically invest in office, retail, mixed-use, and community facility developments in Low Income Communities that benefit residents of those communities throughout the City of Pittsburgh.  In total, PUI has received $238 million in NMTC allocation to use in the City of Pittsburgh. 

For more information about PUI and the NMTC program, please contact Rebecca Davidson-Wager at rwagner@ura.org.

New Markets Loan Fund - OPEN

PUI uses a portion of the allocation to fund and operate a Loan Fund (NMLF).  This program is designed to stimulate the growth of new and existing businesses in the City of Pittsburgh and targets manufacturing, distribution, and technology- and innovation-based, high job growth potential companies as well as community service facilities and main street businesses.  Loan amounts range from $500,000 to $2,000,000 with terms up to 8 years and interest rates of approximately 3-3.5%, subject to the loan size and PUI underwriting.  

Program Flyer

For more information about PUI and the NMTC and NMLF programs, please contact Rebecca Davidson-Wager at rwagner@ura.org

 

How Can You Apply?

 

Making a Real Impact

To date, PUI has applied for and received $188 million in New Markets Tax Credit allocation for the authority to use in projects in the City of Pittsburgh. Completed projects include:

$6 million investment into Mill 19

$6 million investment into City of Asylum

"City of Asylum's Main Venue - Alphabet City" by Popscreenshot is licensed under CC BY 4.0

$2 million investment into The Proud Company

$6 million investment into 7800 Susquehanna Street

Photo courtesy of Bridgeway Capital


PUI at a Glance:

  • Total Project Costs: $747M
  • Total NMTC QLICI Loans: $188M
  • Construction Jobs Created: 3066
  • Permanent Jobs Created: 3792

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