Gov. Ron DeSantis’ signature on the new state budget makes official the transfer of University of South Florida Sarasota-Manatee facilities to New College of Florida.
The move ends months of uncertainty over whether the deal would move forward and whether USF would lose funding along with the property.
The final budget outcome is a significant shift from a House proposal that sought to move $22.47 million from USF to New College as part of the campus transfer. That funding shift became the biggest sticking point in negotiations, with the Senate resisting the money transfer.
In a message to the university community, USF President Moez Limayem said the transfer will take effect at the start of the new fiscal year on July 1, but he emphasized that USF will retain funding critical to protecting current students, faculty and staff.
“As I have emphasized throughout this process, my priority has been, and always will be, our people,” Limayem wrote.
Limayem said keeping the recurring funds means all faculty and staff will remain employed as USF carries out a teach-out for current students at the Sarasota-Manatee campus. More than 1,000 USF students will receive priority use of classroom and educational space at the transferred facilities while they finish their degrees as a part of that process.
Among the campus’ 137 faculty members, the “overwhelming majority” already have been matched with roles in Tampa or St. Petersburg, Limayem said. Deans are continuing to work with faculty members who are still exploring options, and USF has additional plans to meet with 120 staff and administrative team members.
Under material terms approved by USF trustees earlier this month, New College will receive the campus’ real property, buildings, fixtures and classroom furnishings. Meanwhile, USF students, employees, academic programs, records, institutional insignia and non-fixed educational and research equipment are excluded from the transfer.
The transfer is tied to New College assuming financial responsibility for Sarasota-Manatee property. Under the agreement terms, New College must begin making debt service payments to USF by July 1 and fully assume the residence hall debt by Dec. 31. Failure to meet those conditions would nullify the transfers.
Limayem also noted Monday’s final meeting of the USF Sarasota-Manatee Campus Board, where he presented board members with presidential certificates of appreciation for their service to the campus.
The result gives New College the physical expansion it needs to expand its footprint in Sarasota and Manatee counties, while USF keeps recurring dollars. Much of the immediate need stems from issues with housing availability, as New College has struggled with aging buildings that need repair and a need for additional space to accommodate potential student growth.
“The transfer of the USF Sarasota-Manatee campus represents a transformational opportunity for New College of Florida, not only for our institution today, but for the future of the Sarasota-Manatee region,” New College President Richard Corcoran said.
“This expansion strengthens our ability to serve more students, attract top talent, support innovation, and deepen our partnerships with employers, entrepreneurs, educators, and community leaders. As Florida’s honors college continues its meaningful growth, this investment creates new possibilities for workforce development, research, entrepreneurship, and economic vitality. We view this as more than a campus expansion. It is an opportunity to help shape the next chapter of higher education and regional prosperity on the Suncoast.”
Limayem said USF will continue working with Sarasota-Manatee stakeholders to maintain a role in supporting the region’s growth, even as the campus facilities move under New College control.
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