The Florida Legislature reached a critical budget agreement to transfer the University of South Florida Sarasota-Manatee campus, including its classrooms, dormitories, and land, to New College of Florida. This transfer includes all fixed capital assets such as equipment and furniture, encompassing approximately 32 acres of property and new residence halls along with a laboratory currently under construction.
New College, a smaller liberal arts institution that Governor Ron DeSantis assumed control of in 2023, will take over full responsibility for the campus by the end of the year. As part of the deal, New College must assume any outstanding debt incurred by the campus as of July 1, and will be required to make monthly payments to USF to cover debt service. The budget language also mandates priority classroom access for USF students already enrolled at the Sarasota-Manatee campus before July 1, ensuring continuity for those completing their studies.
The agreement further protects current USF residential students by requiring New College to honor existing housing leases until August 15, 2027, or until students depart earlier. Lawmakers’ chief concern centered on financial implications rather than land control, as Senate leadership expressed hesitation over funding allocations during negotiations. Originally, the House sought to transfer over $22 million along with the property, but this funding provision was removed before the Legislature concluded its budget discussions in a special session.
USF officials had previously warned that losing funds could jeopardize commitments to students and staff, including financing a teach-out period allowing Sarasota-Manatee students to finish their degrees on campus and supporting relocating employees on other USF campuses. Earlier attempts to move the campus in the regular legislative session faced obstacles, including the removal of related provisions from a Senate appropriations bill.