Gannon University is seeking financial help from an infrequently-active city authority that helps Erie-area colleges and universities finance capital projects.
A public hearing before the City of Erie Higher Education Building Authority is set for Tuesday at 10 a.m. in the Bagnoni Council Chambers at City Hall, 626 State St.
Gannon’s request
Gannon is seeking to refinance $14 million in previously-received bond financing from the authority. That money was used in 2013 for extensive renovations/expansion of Gannon’s recreational facilities, which included the construction of a new field house and indoor turf field.
Gannon spokesman Doug Oathout said the move provides “the opportunity to refinance with slightly better terms,” and to also use $2.5 million from the refinancing “for deferred maintenance around our downtown campus. We have a couple of things that need attention and that’s what the money will be used for.”…