The Redevelopment Authority of the City of Butler is seeking help from a local lending institution to move on from a long vacant property.
A potential buyer has expressed interest in the Wishing Well property which is a vacant lot at the corner of Main and Cunningham Streets.
Authority board members were informed Thursday afternoon that officials with NexTier Bank are considering the possibility of forgiving the mortgage on the property since it is more than the value.
The Authority currently owes slightly more than $100,000 on the mortgage of the property that was purchased nearly 20 years ago. If the Authority is able to arrange a sale, any proceeds would be passed along to the bank in place of the balance of the mortgage.
