County to meet to mull Boscov's plan
The Butler County commissioners will meet Monday to discuss whether or not to join a consortium of six counties backing a $35 million federal loan to rescue Boscov's.
The U.S. Department of Housing and Urban Development loan would be used in conjunction with another $94 million to prevent the store chain from closing.
The department store chain has a store at Clearview Mall in Center Township that employs more than 100 people.
The state isn't permitted to apply for the HUD funding, so Butler and the other counties were brought into the deal.
The six counties' state Community and Development Block Grant funds would be listed as collateral for the 20-year loan.
Although the state has verbally promised the counties' state grant funding wouldn't be jeopardized if Boscov's defaults, Butler County officials requested a limited indemnification in writing.
Butler's participation in the plan has remained in limbo for weeks while state and county officials come up with the agreement's wording.
Monday's meeting will start at 1 p.m. in the government center on Diamond Street.
