Butler hires third-party adviser to help with BASA sale money
Butler will pay $3,000 to retain a business adviser to help choose an investment adviser for the money the city is expected to receive through the sale of the Butler Area Sewer Authority.
Butler City Council voted unanimously Thursday, July 27, to retain Jason W. Ross, of Relevate Business Advisors, to evaluate the financial advisers the city interviewed to help manage money Pennsylvania American Water will pay for BASA.
“He has done this before, but we’re further along than what most municipalities or other organizations he’s dealt with are, because we’ve already got presentations,” Butler Mayor Bob Dandoy said at the council meeting Thursday. “He’ll synthesize it and put it all together and come up with a report for us so that will make our job easier in selecting our financial adviser for the BASA funds.”
Pennsylvania American Water agreed to pay Butler and Butler Township $231.5 million for the sewer authority’s assets, which the two municipalities will split following the payment of debts owed. Council invited four investment advisers to speak at meetings about how they would help the city get the most bang for its buck.
According to Dandoy, Ross will present his suggestions in selecting a financial adviser at a future council meeting.
Council also approved the addition of language into the authority’s articles of incorporation that allows the authority to disband, which would be necessary if the sale is approved by the Pennsylvania Public Utility Commission.
“The township has already done it and BASA has already done it,” Dandoy said. “This redefines the mission of BASA to include what’s going on right now; executing the deal and tying up loose ends and taking care of things.”
Council also accepted the retirement of Kevin McAfee, a captain with the Butler Bureau of Fire, who has been with the department for 39 years.
Councilman Larry Christy said McAfee is one of the longest-serving employees the bureau has had in recent years. Chris Switala, chief of the Butler Bureau of Fire, said McAfee has been the senior captain for “a long time.”
“Kevin has been a really good employee the past 39 years,” Christy said. “I had the pleasure of serving with him for 29 of those years. He will be missed.”
