To better prepare for a looming financial deficit, the Pennsylvania State System of Higher Education Board of Governors on Thursday approved the sale of the Porreco facility at Edinboro University.

The 26-acre property was a gift by Louis Porreco in 1986 and included 10 buildings that have been repurposed for classrooms, offices and other uses.

According to projections in the school's 2020 budget, Edinboro has a projected deficit of $12.9 million with $10.8 million of that being debt service.

Edinboro's debt service was specifically mentioned as a possible concern regarding the potential affiliation with Slippery Rock University floated by PASSHE last month.

The university sought “approval for the disposition” of the property at 2951 W. 38th St., Millcreek Township, Erie County.

Sharon Minnich, PASSHE vice chancellor of administration, said the university stopped using the site after the spring semester, and trustees approved the sale of the property on July 24.

“The university has excess space, and the space is adding to its current deficit,” she said.

SRU President William Behre said the move by Edinboro to save money by eliminating unnecessary expenses is a nice gesture, but does little to abate concerns about Edinboro's debts. He said he was not clear on whether that property carried any debt.

“It will help them trim their annual budget. I encourage that. Fiscal soundness makes sense,” Behre said. “But in terms of the concerns it has on the debt, it has no impact.”

Officials from Edinboro could not be reached for comment Thursday on whether the property carries debt service.

Now approved by the PASSHE board, a letter will be sent to both chambers of the Legislature asking for approval of the sale through a resolution.

The next state Senate session is Sept. 8, and the next House session is Sept. 15.

PASSHE oversees the 14 four-year public universities, including SRU, educating more than 95,000 students.