Pittsburgh City Council takes steps to approve realty tax increase, unveils plan to put money into affordable housing fund
Pittsburgh’s City Council with a preliminary vote on Wednesday supported the 0.5 percent increase of the Realty Transfer Tax [RTT] to help fill the Housing Opportunity Fund. That will allow the city to pay for affordable housing projects and initiatives. Additional support for the fund will come from closed-out trust funds and surpluses pulled across city departments. Filling the Housing Opportunity Fund with $10 million yearly was one of the chief recommendations the city’s Affordable Housing Task Force made in May 2016. The road council took to finally allocate funding for affordable housing has been fraught, especially in recent months.