The City of Butler is moving forward with a bond issue for an amount that would cover the cost of the downtown Centre City parking garage.
At a meeting Thursday night, Butler City Council heard from a representative from PNC Bank who said the “last best day” to hold the sale would be September 10.
The city also heard from Solicitor Jim Coulter who said the finalizing documents would be prepared for the larger amount, which means the city would build the parking garage. This is, however, with the expectation that the City Redevelopment Authority would close a property sale with the developer of the neighboring Centre City hotel September 8 or 9. The paperwork could be revised to a lower amount if that sale is delayed past Sept. 9, which means the city would not build the garage.
The city’s credit rating has been graded at an “A” but that rating expires Monday, September 14.
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