Erie, Pa. (April 13, 2018) – Friday morning The Erie Downtown Equity Fund Board (EDEF) held a signing ceremony to officially recognize and finalize capital agreements and commitments to the Fund.
While the EDDC is a privately funded nonprofit group, led by business and community leaders, the group will rely on this private Erie Downtown Equity Fund to achieve its goals. The EDDC’s core mission is to fuel economic growth through real estate development in downtown Erie.
The goal for this initial Fund is $40 million dollars. To date $24.25 million dollars has been committed from Thomas B. Hagen, Erie Insurance, Highmark/Saint Vincent Hospital, Erie Community Foundation, Gannon University, UPMC Hamot, ErieBank, Northwest Bank, Mercyhurst University and Marquette Savings Bank.
The Erie Downtown Equity Fund Subscription Package was signed at the EDEF regular Board of Managers meeting held at the Erie Insurance Firehouse on French Street in Erie.
Photo provided by Erie Insurance.