The Redevelopment Authority of the City of Butler has moved to a new location but they are continuing to take actions to improve their financial situation.
The Authority is now located at 129 West Cunningham Street on the first floor of the Tier Garage. The sale of their former office building is expected to be finalized by the end of August.
The Authority also agreed to sell an apartment complex at 330 Virginia Avenue for nearly $155,000 to 2MI Properties contingent on the buyers keeping the units as subsidized housing.
Since the estimated date of completion for the Centre City Springhill Marriott Hotel and Suites has been pushed back to November, the Authority has requested a change to the loan agreement with NexTier Bank. Butler Hotel Properties will now be allowed to make interest-only payments through the end of February 2018.
Finally, the Authority is bringing back a familiar face as former Executive Director Art Cordwell has been hired to the part-time position of Rehabilitation Inspector. Cordwell will begin that position next week and be paid a salary of $34 per hour for approximately 14 hours a week.
Written by Ryan Saeler