As PECO funds dwindle, building restoration projects may be on hold

By on May 2nd, 2012

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.

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