As PECO funds dwindle, building restoration projects may be on hold
The University of Florida is searching for funding to restore buildings on campus in need of repair. The Public Education Capital Outlay, or PECO funding has been reduced, and schools may not get any money for up to a possible three-years. In the past, the University received between 30 to 80 million dollars for building construction and repairs. University of Florida Chief Financial Officer Matt Fajack says the lack of growth in Florida and more people relying on cell phones have contributed to the problem. Fajack adds the concern isn’t the inability to construct new buildings but rather maintain the ones the university has.
With the lack of PECO funding, learning environments could also take a hit. Moving forward, the committee wants to make recommendations to the board of governors, who could make recommendations to the legislature.
This entry was posted in Business
, University of Florida
. Bookmark the permalink
More Stories in Business
Florida’s tax-friendly laws and Gainesville’s status as a college town makes it an attractive location for tech companies.
A memorial for Josh Greenberg, the co-founder of music streaming service Grooveshark, was held Friday evening at the Phillips Center. He was found dead in his home July 19.
In an effort to even the scales, the Gainesville City Commission voted Thursday afternoon to regulate app-based transportation services like Uber. The ordinance will hold them to standards similar to those of traditional taxi drivers.
As summer rolls around and students leave north central Florida, local businesses make plans to fight the economic slump. This year, however, has been better than previous ones.
A bridge in Cedar Key that acts as the local thoroughfare is closing down for maintenance. Residents are concerned that closure will affect the local economy.