The City of Butler Parking Authority is spending nearly all of its emergency money on the new downtown garage, officials say.
A financial report from treasurer Jeff Smith at Wednesday’s meeting revealed that expenses from the Centre City Parking Garage project are draining what were formerly healthy savings accounts of the authority.
Although an undetermined amount of money will be returned to the authority once the city receives funds from a recent bond issue, the authority could still end up contributing more than their original $500,000 commitment to the garage.
The Parking Authority has paid nearly $140,000 in engineering expenses for the structure with more invoices pending. In an effort to pay for needed projects and rebuild reserves, the authority could have no choice but to increase the cost of parking leases as soon as next year.
Written By: Ryan Saeler
Photo by Craig Murphy
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