The Pennsylvania Academy of Music's landlord might someday be Millersville University.

But a lot has to happen for "might" to turn into "is."

Millersville is interested in buying PAM's building in downtown Lancaster, university spokeswoman Janet Kacskos said Wednesday.

"I can confirm that we are in talks, though no agreement has been reached," she said.

"This potentially would be wonderful for our students, our faculty and the community."

And should Millersville acquire the stunning landmark from Union National Community Bank, the building's owner, the university is open to the possibility of sharing the space with PAM, Kacskos said.

"That's an option. We're looking at quite a few things," she said.

But Kacskos emphasized that Millersville is not actively discussing the concept with PAM, which saw nine of its 12 trustees and two key administrators resign this week.

"We had a conversation with the old board (at PAM), but not with the new board," she said.

The PAM building at 42 N. Prince St. opened in June 2008. The $32 million facility is a door away from the Fulton Opera House.

The plush, 63,000-square-foot building features a 367-seat recital hall, acclaimed for its world-class acoustical qualities, plus ample rehearsal, teaching and office space.

The project was hailed as a major contributor toward the revitalization of downtown and the development of an arts district.

But the cost of the building, coupled with a plunge in donations as the economy fell into recession, led PAM to default on its mortgage and on other loans from Union National.

To solve that problem, PAM signed the building over to the bank in December.

In return, Union National forgave its loans to PAM, and let PAM stay in the building as a tenant while the bank seeks a buyer.

Whether that buyer ends up being Millersville remains to be seen.

Union National's top executive, Mark Gainer, said the bank "is talking to several prospective buyers," though he declined to identify them.

Gainer, the chairman, president and chief executive officer, was optimistic the bank will find a buyer that uses the facility "as it was intended to be used" — for music education and performance.

The bank executive declined to disclose an asking price.

Millersville views the PAM building as possibly filling both short-term and long-term needs, explained Kacskos.

For the next two years, as its Lyte Auditorium on campus undergoes a $26 million expansion and renovation, Millersville could use the PAM building as substitute space.

Beyond that, the PAM building could give the university a conduit to take its visual and performing arts into the greater Lancaster community, she said.

"It fits so well with our mission of education," she said. "It could give our students and faculty, and the community, better access to each other.

"It could be a way to take our arts program into the broader community."

If university officials and the bank reach an agreement on the building, it would need the approval of the university's council of trustees, which next meets March 17.

It would then need the approval of the Pennsylvania State System of Higher Education Board of Governors.

Where would Millersville get the money to make such a deal?

Millersville could use a mix of PASSHE capital construction grant dollars and private donations to purchase the building, Kacskos said.

Such a mix is helping to fund the Lyte project.

"We've kept the chancellor (of PASSHE) informed," Kacskos said.

The likelihood of PAM staying in the building is hard to gauge as the 21-year-old academy undergoes a second turnover of its board in less than a year.

The trustees, plus PAM's acting president and its vice president of finance, resigned this week after clashing with PAM co-founders Frances Veri and Michael Jamanis over the need for further cost-cutting.

The trustees, saying PAM is running a monthly deficit of $100,000, even after its mortgage and other debts were eliminated in December, argued for deeper cuts, saying they were essential for PAM's survival.

The co-founders disagreed with the cuts, saying they would harm the academy's ability to fulfill its mission.

tmekeel@lnpnews.com