Two developers have made presentations to Allentown officials about their proposals to reclaim the old Colonial Theater property.
The second of the two presentations was given yesterday, members of the Allentown Commercial and Industrial Development Authority were told late Tuesday afternoon by executive director Scott Unger.
Unger would not name the developers, but would only say the selection committee "is still reviewing the two proposals. ... We don't have a recommendation ready."
The authority and Lehigh County jointly own the .62 acre property, which is in the Neighborhood Improvement Zone.
Being in the NIZ opens up certain financial incentives to developers.
The city took control of the blighted theater in 2003, after a long battle with the Mendelson Family Trust, and tore it down two years later.
Two times before the NIZ was created in 2009, developers tried unsuccessfully to build on the property, which is near the federal and Lehigh County courthouses and Allentown City Hall.