Mayor Gainey to Announce $62.6M Bond for City Growth

Published on April 15, 2025

MEDIA ADVISORY 

Mayor Ed Gainey and Finance Director Jen Gula to Announce $62.6M Bond Issuance Supporting Pittsburgh’s Infrastructure and Economic Growth 

WHO:  Mayor Ed Gainey and City Finance Director Jen Gula 

WHAT:  Press briefing on the successful closure of the City of Pittsburgh’s Fiscal Year 2025 bond issuance, totaling $62.6 million to fund critical infrastructure, economic development, and community investment initiatives. 

WHERE: Mayor’s Conference Room, City-County Building, 414 Grant Street, Pittsburgh, PA 15219 

WHEN: Wednesday, April 16th at 12:30 PM 

WHY:  The City of Pittsburgh has successfully closed on a $62.6 million bond issuance to support a range of transformative capital projects across the city. Notably, this marks the first time in decades that the City has issued bonds through a competitive sale—resulting in a favorable 4.04% interest rate. This outcome reflects growing investor confidence, improved credit ratings, and the City’s continued fiscal strength. 

Proceeds from the bond issuance will be allocated to priority projects outlined in the 2025 Capital Budget, including infrastructure repairs, public safety facility upgrades, and enhancements to neighborhood amenities. During the briefing, Mayor Gainey and Director Gula will discuss how this financing supports the City’s commitment to equity, economic opportunity, and long-term sustainability. 

Olga George
Press Secretary
Mayor's Office
olga.george@pittsburghpa.gov
412-627-0679