USF-NCF Transfer Timeline
The following is based on sec. 1004.342, Florida Statutes, and provides a timeline and summary of certain statutory requirements for the transfer of the USF Sarasota Manatee Campus (“USFSM”) to the New College of Florida (“NCF”). This document will be updated based on developments.
Timeline
July 1, 2026
- Effective date of sec. 1004.342 pending Governor’s signature
- NCF begins paying monthly debt service on residence hall to USF (debt service = $166,617.00). Delay by NCF in making debt service payments to USF delays work on the Joint Transfer Agreement (“JTA”).
- NCF is responsible for all costs associated with real property and facilities at USFSM (i.e., maintain, renovate, repair, replace)
- USF will not enroll any newly admitted students at USFSM
- USFSM Campus Board is dissolved and USFSM removed from sec. 1004.341
- USF and NCF to execute JTA and Facility Use Agreement (“FA”) and jointly submit to BOG, or if
unable to agree on transfers, then USF and NCF to submit disputed items to BOG for
resolution per guiding principles in sec 1004.342
- JTA contents: all real property, permanent facilities constructed on the real property, and assets and liabilities associated with real estate and facilities will transfer, including housing agreements.
- FA: NCF must enter into FA with USF for no cost use of academic and student support space to complete USF teach out; FA to be updated annually to reflect most current space needs; FA to include space in residence halls with rates guaranteed through August 15, 2027;
- Highest priority for use of space under FA: Teach out of USF students admitted prior to July 1, 2026 provided they remain continuously enrolled. Duration of teach-out is for up to 4 full years from initial enrollment, subject to USF UBOT determination.
September 30, 2026
- BOG to decide disputed transfer items, if any, and order remaining transfers based on guiding principles.
December 31, 2026
- NCF assumes debt in its name for the residence hall. Failure to do so by NCF nullifies all transfers.
August 15, 2027
- Last day NCF must honor current residential agreements and rates for USF students; USF students may cancel leases prior to August 15, 2027 without penalty or charge; thereafter, USF students may lease at same rates as NCF students if USF student is progressing in the teach-out program.
July 1, 2028
- sec. 1004.342 is repealed, but no effect on prior property transfers exclusively because of repeal.
Other considerations
Residence Hall
NCF must fully honor terms of all USF residential agreements through August 15, 2027; fixtures and furnishings in residence transfer to NCF.
Guiding Principles
Real estate, buildings, and other assets that are considered permanent and immovable transfer to NCF, including classroom and residence hall fixtures and furnishings. IP, educational and research equipment fixtures, equipment issued to employees, funds, records, and insignia do not transfer and remain with USF. The planned modular building, which is not even in place, is neither permanent nor immovable and should not transfer.
Dispute Resolution
Any disputes submitted to BOG who will decide the issue by majority vote (in a public meeting); all BOG dispute resolution must be completed by September 30, 2026 and decisions based on guiding principles in statute.