The NMTC program is intended to help “economically distressed communities” attract private capital for new developments. Of 238 applicants nationwide, only 120 had their requests granted. . .
This is the sixth consecutive year that Pittsburgh has received this award, says Robert Rubinstein, acting executive director of the URA.
“While we can’t say with 100% certainty, the NMTCs provide the necessary equity to close the final funding gap on these projects, so they likely would not occur without,” said Rubinstein.