Pittsburgh Urban Initiatives receives $28 million tax credits toward development

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A local community development entity has received $28 million in new market tax credits from a program that in the past has aided in the development of hotels and community centers in the city.

Mayor Bill Peduto announced today that Pittsburgh Urban Initiatives, which is associated with the Urban Redevelopment Authority, will receive new market tax credits from the U.S. Treasury.

The city has received $118 million in new market tax credits since February 2011 that have helped develop a grocery store in the Hill District, East End Cooperative Ministry’s Community House and the Ace Hotel, which is slated to open in East Liberty in 2015.


Moriah Balingit: mbalingit@post-gazette.com, 412-263-2533 or on Twitter @MoriahBee.

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