Souderton officials have officially put the for sale sign on the building the Borough owns between the old Broad Street Theater and Broad Street Pizzeria and Grill on West Broad Street.
Borough Council Monday night authorized putting the two story structure out for bid. Borough Manager, Mike Coll says the Borough took possession of that building as well as the Broad Street Theater in April after there were no bidders for the property at a Sheriff’s sale.
“It went to Sheriff’s sale for a default on a loan that was actually s state grant that was funneled to the Borough, So there was a default on the repayment of that loan and that’s what triggered the Sheriff’s sale.
The minimum bid for the property is 150,000. Bidders are required to submit a conceptual plan for the building along with a 15,000 bid security deposit. Borough Council could take action on the bids at its October business meeting.