The financial situation of the Redevelopment Authority of the City of Butler continues to move in a positive direction.
The Authority was presented their 2015 agency audit at their regular meeting Thursday which included a deficit of over $2 million.
However that number is a bit misleading since Kelly Automotive Park is no longer an asset of the Authority but the Authority still retains some debt from the facility. A deal last year allowed the ballpark to come under control of the City Stadium Authority.
Other financial obligations of the Redevelopment Authority include paying back numerous bond issues, debts due to the Housing Authority as a result of past agreements, and $250,000 borrowed as part of the deal to purchase the Penn Theater.
Written by Ryan Saeler