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First-ever budget for authority overseeing hockey arena project to be unveiled next week

By Len Righi, WFMZ.com Reporter
Published On: Feb 25 2013 09:13:52 PM CST
ALLENTOWN, Pa. -

The authority overseeing the building of a hockey area and other projects in downtown Allentown is at work crafting its first-ever budget, and those numbers will be available in about a week.

The budget was the subject of an executive session of the Allentown Neighborhood Improvement Zone Development Authority's finance committee Monday afternoon.

Committee officials said they expect to make the budget figures public at the authority's March 6 meeting.

In other business, the committee was told by Allentown's director of community and economic development, Sara Hailstone, that private interviews are scheduled with the PFM Group and the City Group, the two companies competing to be the authority's investment adviser.

Hailstone also informed the committee that the authority has received only one response to its request for firms interested in being the authority's auditor, and that it came from Barbacane Thornton & Co., of Wilmington, Del.

Authority chairman Seymour Traub asked if Barbacane's bid was "reasonable."

"It is," Hailstone replied.

Both the investment advisor and auditor's jobs are expected to be discussed at the March 6 ANIZDA meeting.