Penn Theater in the process of being sold
The Butler Redevelopment Authority was in the middle of searching for grant money to pay to demolish of the Penn Theater when a “knight in shining armor” approached the board with an offer.
On Thursday, the authority voted unanimously to accept an offer from Bryan Frenchak, who is from Butler Country and now living in Houston, Texas, for a sum of $65,000.
Brian McCafferty, chairman of the Butler Redevelopment Authority, said the money will be paid to Pittsburgh History & Landmarks Foundation, the lending arm of Landmarks Community Capital Corporation, which originally loaned the authority $290,000 to buy the building in 2009.
“We wanted to get it off our books, we have been trying for years to sell it,” McCafferty said. “This is just a tentative agreement. ... This is the beginning, but we're really hoping to have this completed by the end of the year.”
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