North East Pennsylvania may soon have a new tenant in the Mercyhurst North East campus.
According to the Erie Times News, the Erie based university has agreed to the sale of the 70 acre campus for $4.5 million.
The purchaser is a company from Maryland that specializes in sports training programs.
As part of the agreement, Mercyhurst is asking the Erie County Board of Tax Assessment Appeals to lower the value of the property.
They are asking for an 80% reduction from $24.8 million to the sale price.
This would reduce the property tax value from just under $526,000 to just over $100,000.
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