The City of Butler Parks, Recreation Grounds, and Facilities Authority is pursuing a loan to make revenue producing improvements at Historic Pullman Park.
The Authority approved a motion at their meeting Monday night to seek a loan in the amount of $400,000 from NexTier Bank.
The Authority plans to use the money to pay off their existing mortgage at a rate similar to the one they currently have as well as have new turf installed, a new HVAC system put in place, roof repairs made, and possibly meet other needs if there is money left.
If secured, this loan would increase the authority’s monthly debt payment by about $50 compared to what they are already paying. A representative of the Authority is expected to present this plan to Butler City Council at their next meeting next month so that the City might co-sign the loan since it is dependent on future revenue.
