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…