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Hocking College Trustees Consider Land Lease Offer
< < Back to hocking-college-trustees-consider-land-lease-offerHocking College may have found a way to solve their budget woes in the form of a land lease with Cunningham Energy.
Spokeswoman Laura Alloway says the Board of Trustees discussed the offer to lease 1,200 acres for oil and gas exploration and extraction at their meeting on the Logan campus last night.
Chairman Mike Brooks brought up the matter and said the company offered college officials $2,500 per acre.
If college leaders accepted the deal, the profit could be as much as $3 million.
In an earlier interview with WOUB News, college president Ron Erickson said due decreased state funding and lower enrollment numbers, the school is facing a projected budget shortfall of $2.9 million. He said a committee of college staff was looking into ways to streamline operations and cut costs.
Trustees did not reach a decision regarding the land lease last night.