Butler City Council is pushing back the timeline for choosing a financial advisor while also considering an additional proposal.
After saying last month that three companies would present proposals beginning with the March 9th meeting, Council has now decided to hear proposals from four companies beginning at 6:30 p.m. on Thursday, March 23rd.
The goal of these presentations is to understand more about the services available to the City once the proceeds from the sale of Butler Area Sewer Authority assets to PA American Water are dispersed.
Companies scheduled to present include NexTier, PNC, Edward Jones, and Baird formerly known as Hefren-Tillotson. Mayor Dandoy on the importance of this process including companies with local connections:
“We certainly wanted to accommodate anyone local. I think when you look at these firms they’ve been supportive of the City and have been good corporate citizens,” Dandoy said. “We certainly wanted to recognize that and we certainly gave that some shrift.”
This information does not cost the City and the public will continue to be involved in the process of how the large sum of money will be managed. A Council vote to choose a company could be taken in May.
