The company whose offer to buy the Tier garage and two parking lots from Butler was turned down two weeks ago has submitted a revised offer to buy only the garage for $3.5 million, city officials said.

At its March 11 meeting, council voted 3-2 against a proposal from PFS VIII LLC to buy the garage and the two lots adjacent to the City Building for $3.75 million.

Since then, PFS has submitted a new offer to buy only the garage for $3.5 million, Councilman Jeff Smith said. A motion to consider the updated term sheet from PFS is on the agenda for Thursday's council meeting.

Some council members who voted against the first proposal said they might have supported the sale if it only included the garage.

The new proposal also includes a smaller increase in parking violation fines than the first proposal.

The fine would be $15 with an annual increase of $2 in each of the next five years, reaching $25 in five years. Then, the fine would increase every five years based on the cost of living.

Once the fine hits $25, there would be a $5 discount if paid within 10 days. If not paid within 30 days, there would be a $30 enforcement penalty with an additional $30 enforcement penalty after 90 days, Smith said.

Under the first proposal, the fine was $35 and would increase to $65 if not paid after 30 days and to $95 if not paid after 90 days. It would decrease to $20 if paid within 72 hours of issuance or $25 if paid within 10 days, he said.

Current fines are $10 for overtime parking at a meter and $20 for parking over two hours on Main Street.

“You can make more money for taxpayers by selling it rather than keeping it,” said Mayor Ben Smith, who supported the first proposal.

He said the money from the sale would be greater than the revenue the city would receive from the garage after needed repairs are made. PFS is aware of the work the garage needs, he added.

“If the City of Butler was run like a business, we would have already sold the Tier garage,” Jeff Smith said.

Councilmen Bob Dandoy and Mike Walter said they hadn't seen the new proposal.

“There are other elements to be considered when contemplating this proposal, including turning the management of parking assets over to the company and whether we've done due diligence on alternatives to this entire plan,” Dandoy said in an email Tuesday. “I'm also convinced that the overwhelming majority of business owners and other community leaders do not support the sale. After our last vote, not one person reached out to me to disagree with my position, while many offered support and approval.”

He said council will incrementally address improvements and repairs needed throughout the parking system.

“I am not inclined to support the sale at this time,” Dandoy said

Walter said he wants to see more information about the proposal before Thursday's meeting.