Ownership of the University of South Florida’s Sarasota-Manatee campus is set to transfer to New College of Florida on July 1, a state-ordered handoff that will transfer campus land, buildings and related facilities to New College, while USF students continue taking classes there.
USF trustees are scheduled Wednesday to review the agreements that will govern the transfer. Lawmakers approved the move last month during state budget negotiations, leaving the universities to work out what transfers, what stays with USF and how the campus will operate after the handoff.
New College will begin making monthly residence hall debt-service payments of $166,617, or about $2 million a year, on July 1. The school must assume the debt in its own name by Dec. 31. If it does not, the transfer is void under state law.
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New College also will become responsible for operating and maintaining the campus, including its facilities and residence hall.
USF will stop enrolling new students at Sarasota-Manatee after July 1, but students already admitted will be able to complete their degree programs on the campus. USF will retain priority access to classrooms and academic facilities during a teach-out period that could last up to four years.
Any disputes over what transfers to New College will be decided by the Florida Board of Governors. State law generally directs that land, buildings, and other permanent assets transfer to New College, while intellectual property, research and educational equipment, records, and funds remain with USF.
The agreements before trustees are expected to show which property, liabilities and operating responsibilities will change hands before the July 1 deadline.
Trustees are also expected to consider USF’s fiscal 2027 operating budget, a five-year capital improvement plan and proposals to establish bachelor’s and master’s degree programs in artificial intelligence.
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