“Millersville University votes to buy Pa. Academy of Music building” reports: “In a historic decision, Millersville University’s trustees voted unanimously Wednesday to pursue a purchase of the Pennsylvania Academy of Music building.
“But whether the ailing academy itself would stay in the downtown landmark and rent space from its new landlord — the university — remains to be seen.
“Millersville hopes to occupy the 42 N. Prince St. structure this July, assuming it can strike a deal with the building’s owner and obtain financing from the state.
“The university would spend up to $14.5 million to buy, renovate and equip the 63,000-square-foot building, located a door away from the Fulton Opera House…. (Click here to read more)
WATCHDOG: On the surface, this is not yet a done deal. The article further states: “Funding for the project could be considered by the state system’s Board of Governors as soon as their next meeting, scheduled for April 8, said spokesman Kenn Marshall. The state General Assembly also would have to pass a bill calling for the funding, Marshall said.”
Has Millersville University directly obtained two or three independent and current MAI appraisals? Will they be made public?
How much of the $14.5 million is to purchase the Academy from Union National Community Bank (UNCB) and how much will be for renovations and improvements?
To the extent Millersville might be overpaying, taxpayers will be further absorbing the losses from the project and, in effect, bailing out owner UNCB and guarantors Paul Ware, his Ferree Trust, the Steinman Foundation, and the Lancaster Newspapers, Inc.
Clearly Millersville ownership of the Academy building is good news for Lancaster. The Watchdog remains hopeful that in time Millersville will come to recognize the potential of also acquiring the Brunswick Hotel and creating an international music school campus.
“The Watchdog remains hopeful that in time Millersville will come to recognize the potential of also acquiring the Brunswick Hotel and creating an international music school campus.”
Why would they want to follow this hollow dream of the founders? Great musicians want to study in a great city filled with other great musicians.
And please lay off Paul Ware, he may be guilty of being duped by the founders, but nothing more. The Academy is a dead end dream. The Barnstormers will never compete with the Phillies and an Academy here in Lanky was never going to rival Curtis, Julliard etc.
A common-sense online talkback response to today’s story headed Millersville University votes to buy Pa. Academy of Music reads: “This is about as good as it gets, re-purposing the building as it is best suited, and sending PAM packing. Given all Millersville plans to do, there’s not enough room to accommodate a mismanaged PAM. By all reports, MU plans for the facility to be a COMMUNITY house, and not just an enclave for the elite.”