Florida Poly will finally assume USF assets, liabilities | News
TAMPA, Florida -- Administrators at the University of South Florida (USF) are breathing a sigh of relief after receiving assurance from the Board of Trustees of the new Florida Polytechnic University that it will assume millions of dollars of assets later this month.
Florida Poly Board of Trustees Chairman Robert Gidel penned a letter explaining that while the new university won't accept the property, contracts, and liabilities from USF-Lakeland by the Oct. 15 deadline, it will accept them the day after its next Board of Trustees meeting on Oct. 24.
READ: Gidel's letter to BOG, USF (pdf)
Had Poly not accepted the assets and funds, the repercussions to USF would have been unknown...but significant.
Florida Poly's Board of Trustees was only assembled a few months ago, and the state's 12th university currently has no staff. It's campus is under construction, and the only resource the trustees have had so far have been staffers from the University of Florida and Board of Governors.
TIMELINE: History of Florida Poly Controversy
Florida Poly was created amidst political controversy in April 2012, but the recently-named board has repeatedly tried to avoid political topics.