There’s room at the bottom for comments.
http://www.daytondailynews.com/news/dayton-news/deal-reached-to-open-new-antioch-college-184436.html
Deal reached to open new Antioch College
By Dave Larsen, Staff Writer Updated 1:24 PM Tuesday, June 30, 2009 YELLOW SPRINGS — The boards of Antioch University and the Antioch College Continuation Corp. announced a “historic agreement” today, June 30, for the creation of a new independent Antioch College in Yellow Springs.
Both boards unanimously voted in favor of a set of definitive agreements for the creation of the college, including the transfer of the Antioch College campus and endowment. Once all conditions are met, the transfer will occur in late summer.
The target date to implement the asset-purchase agreement is Aug. 31.
Antioch College will transfer to the corporation assets including the college endowment, campus and the Glen Helen nature preserve. The consideration for the transfer of assets is $6.08 million.
Antioch University closed Antioch College on June 30, 2008, because of declining enrollment and other problems. Since August 2008, however, the university has been negotiating with the Antioch College Continuation Corp. to create a new Antioch College that would be independent of the university.
The university’s board of governors set a deadline of today, June 30, for the transfer of university assets to the corporation.
Founded in 1852, Antioch College was a private, undergraduate liberal arts college known for its unorthodox education and social activism.
The residential college in Yellow Springs was the flagship for Antioch University, which operates five other campuses: Antioch McGregor, also in Yellow Springs; Antioch Los Angeles; Antioch Santa Barbara; Antioch Seattle; and Antioch New England in Keene, N.H. These schools focus mostly on training adults already in the workforce.
Antioch College’s enrollment dropped from about 2,000 students during its 1960s heyday to 400 in June 2007, when university trustees declared financial exigency for the college.
The tuition-driven college had an $18 million operating budget and faced a projected $10 million deficit, according to university officials at the time.
The Antioch College Continuation Corp., a nonprofit corporation of alumni and former trustees, made several unsuccessful attempts before June 2008 to keep the college open.
Contact this reporter at (937) 225-2419 or dlarsen@DaytonDailyNews.com.