The Redevelopment Authority of the City of Butler is closing in on the finalization of the Centre City Project.
At their meeting Thursday afternoon, the authority approved a Settlement Agreement between several different companies with a stake in the Springhill Suites by Marriott on East Jefferson Street that opened nearly two years ago.
The Authority also approved an Escrow Agreement involving several different organizations who participated with the project that will ensure escrow payments are distributed by agents.
This prolonged process involving multiple signatures and submission to the state will allow for some vendors who worked on the project to get paid with grant funding. The Redevelopment Authority will not receive any money but the Butler Area Development Corporation, which at one point was a co-owner of the hotel, will receive $227,000.
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