December 2009

The Urban Redevelopment Authority (URA) of Pittsburgh has selected Affirmative Investments to help author their 2010 New Markets Tax Credit (NMTC) application. Through a competitive selection process, the URA ultimately decided on Affirmative to assist with the application and application process based on AI’s history of writing successful New Markets Applications.

In the 9 years since the NMTC program began, Affirmative has written three winning applications. In 2004, in collaboration with Boston Medical Center, Affirmative established a Community Development Entity, applied for, and was awarded New Markets Credits specifically for the Boston Medical Center project. Other successful applications include a $66 million award for Massachusetts Health and Finance Agency (MassHEFA) in 2007, and winning a $25 million allocation of NMTC Authority for AI Wainwright LLC, which is the joint CDE for Affirmative Investments and Wainwright Bank and Trust, in 2008.

The Urban Development Authority is the economic development agency for the City of Pittsburgh. The URA is committed to creating jobs and revitalizing Pittsburgh’s businesses and neighborhoods. The agency provides a portfolio of programs that include financing for business location, relocation and expansion, housing construction and rehabilitation, and home purchases and improvements, and plans to utilize the NMTC program to expand the capacity of its development efforts in Pittsburgh.