‘Tremendous achievement.’ New College celebrates after acquiring USFSM campus
With Gov. Ron DeSantis’ approval of the state budget, the transfer of the University of South Florida’s Sarasota-Manatee campus to New College of Florida is final.
On Monday, DeSantis signed the $117 billion state budget, and included in the budget is the bill that will give New College all of USFSM’s facilities starting Wednesday.
Despite the proposal drawing widespread opposition over the past several months, New College leaders and DeSantis are praising the move. During New College’s Board of Trustees meeting Tuesday afternoon, NCF President Richard Corcoran called the deal a “game changer.”
“This is a tremendous achievement for the college, might be one of the greatest achievements ever,” Corcoran said. “This is basically upwards of a $200 million campus, move-in ready, 204 rooms, 200,000 square feet of space, and it allows the college to not slow down one iota.”
As part of the agreement, New College will receive USFSM’s buildings, including the $44 million residence hall and the new $6.5 million STEM facility, which broke ground in November. However, USF will retain educational equipment not fixed to facilities, any institutional signage, records and the students, faculty and staff currently at USFSM.
New College also has to start paying on the debt that USF has from the residence hall, Atala Hall, which Corcoran said is now around $28.5 million. The residence hall debt will add to New College’s existing $15 million debt, according to Corcoran.
Corcoran also said during the meeting that USF has been an “unbelievable partner” during the process.
“It’s a team effort to make this better for the whole state university system,” Corcoran said. “It’s not about New College or about USF. It’s about really looking out for USF students, looking out for New College students, but making the university system better.”
USF responds to campus transfer deal
In a statement released Monday, USF President Moez Limayem reaffirmed USF’s commitment to serving the students currently at USFSM.
“As I have emphasized throughout this process, my priority has been, and always will be, our people,” Limayem said. “USF retains more than $22 million in recurring operating funds associated with the Sarasota-Manatee campus, which means all faculty and staff will remain employed, and we continue to engage our stakeholders in the Sarasota-Manatee community to ensure USF’s role in supporting the region’s growth.”
According to a document posted on USF’s website, USF officials formed several task forces to help with the transition and upcoming teach-out process.
The agreement allows current USFSM students to continue their degree programs at what will soon be part of New College. Housing for USFSM students will be honored through Aug. 15, 2027.
“Our focus is helping students continue making efficient progress toward degree completion. By law, the teach-out may extend for up to four years,” a presentation to USFSM faculty and staff states.
USF also has the option to continue using the facilities — including dining, IT services and the bookstore — during the teach-out process.
The joint transfer agreement, presented to the USF Board of Trustees on June 17, says eligible students will receive the “highest priority for use of space for instruction and educational support in the transferring property to complete their course of study.” It also states that those students will be taught by USF faculty and receive a USF degree.
According to Limayem’s statement, more than 1,000 students will be impacted by the teach-out at USFSM, and campus advisors will meet with each student. Additionally, Limayem said the “overwhelming majority” of USFSM’s 137 faculty will have roles at USF’s Tampa or St. Petersburg campuses.
