Friday, Dec. 19: PPS Budget + Penguins Sale + Gainey Legacy
Friday, Dec. 19
Your local news briefing
5 Headlines You Should Know Today
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PPS approves 2026 budget with 2% tax hike.
The Pittsburgh Public Schools board has approved a $731 million general fund budget for 2026, including a 2% property tax increase. The hike—down from an originally proposed 4%—was adjusted to comply with the state’s Homestead Act, which limits allowable tax burdens. The increase will raise the millage rate to nearly 10.5 and generate about $3.4 million in revenue. The budget passed unanimously despite carrying a $5.7 million deficit. Officials cited falling real estate revenues and failed cost-saving measures, including a rejected facilities plan, as drivers of the financial gap.
Hoffmann family nears purchase of Penguins from Fenway Sports.
The Pittsburgh Penguins may soon have new ownership. Reports from ESPN and Victory Sports indicate that the Hoffmann Family of Companies—a Chicago-based investment group—are finalizing a deal to purchase the NHL franchise from Fenway Sports Group. The NHL Board of Governors must still approve the sale, which is considered a formality. FSG acquired the team in 2021; its value has since doubled to an estimated $1.7 billion. Hockey legend Mario Lemieux is expected to retain a stake. The team is currently undergoing a transition both on the ice and in leadership.
Gainey’s one-term legacy: bridge collapse, housing, budget fights.
Mayor Ed Gainey is nearing the end of his historic term as Pittsburgh’s first Black mayor, stepping down in January after losing the Democratic primary to Corey O’Connor. Gainey’s tenure was marked by major challenges: a bridge collapse just days after taking office, a persistent housing crisis, and contentious budget battles, including a final proposal City Council says could risk the city’s finances. While Gainey cites gains in public safety, affordable housing, and community trust, critics point to unmet promises on nonprofit contributions and stalled redevelopment.
Longtime Councilor Kail-Smith retires, calls for political middle.
Theresa Kail-Smith, Pittsburgh City Council’s longest-serving member, is retiring at the end of the year after representing District 2 since 2009. Known for her deep ties to the Westwood community and hands-on approach to constituent services, Kail-Smith leaves behind a legacy shaped by advocacy for youth programs, urban farming, and neighborhood development. She said, “I’m tired of far left, I’m tired of far right. I want something that will bring people together.” Her longtime chief of staff, Kim Salinetro, will succeed her.
RK Mellon backs Zegenex, Untapped; pitch competition deadline today.
The Richard King Mellon Foundation has announced two new investments as part of its social impact initiative. Pittsburgh-based biotech startup Zegenex received $215,000 to advance a topical wound healing cream developed from University of Pittsburgh research. The product is designed to promote natural skin regeneration. Meanwhile, Untapped Solutions, a New York firm focused on AI-powered tools for nonprofits, secured $515,000 to expand its customer relationship and workforce platform. Both investments aim to accelerate scalable solutions for public health and nonprofit efficiency. Today is the deadline for the foundation’s Social Impact Pitch Competition.
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