Financing

Higher Education Asset Preservation and Replacement (HEAPR) funds will pay for the addition of fire protection to the Akerman Hall and Mechanical Engineering buildings, accessible toilet rooms on the first floor Akerman Hall, enclosure of the stairways, and a new platform lift to provide access for disabled individuals from the 3rd floor corridor to the 3rd level of the hangar.

The Hangar project was initially awarded $475,000, which was subsequently increased to $570,000, from the State of Minnesota Laboratory Renovation fund by the OVPR for laboratory renovation. AEM is providing $300,000 in matching funds, the Institute of Technology is contributing $500,000 and Facilities Management is providing $500,000 to address fire/life/safety in the hangar area.

AEM is committed to raising the additional $650,000 for the hangar renovation through external support from industry, alumni, faculty and students.

If you would like to be a part of this historic financial partnership, there’s still time. In fact,we need supporters just like you, at a variety of levels. To learn more, click here.