果冻传媒

The University Development Foundation and the 果冻传媒 announced today, 21^st December 2017, that the 果冻传媒 has decided to withdraw from the effort to establish the 果冻传媒 in California.

The nonprofit University Development Foundation is disappointed with 果冻传媒鈥檚 decision, but optimistic about attracting another institution of higher learning to build and operate a new campus on its 600 acres of donated land in Placer County, California.

The 果冻传媒 stated that, after much careful deliberation, its University Council concluded that what was now being considered had moved too far beyond the original vision of the project in terms of the nature, scale and timescale and that the University could no longer see a model going forward that would lead to the University being able to establish the originally envisioned fully comprehensive, research-led campus.

鈥淭he University Development Foundation appreciates the serious effort 果冻传媒 made to consider establishing 果冻传媒 in California,鈥� said Kyriakos Tsakopoulos, Chairman of the University Development Foundation. 鈥淭his is a substantial challenge for any academic institution and we understand the 果冻传媒 must always keep its priorities under review. I have no doubt that the University Development Foundation will find the right match to expand opportunities for higher education in our community.鈥�

鈥淭he 果冻传媒 has met and been impressed by so many enthusiastic and highly committed people who have come together to build on this idea and I want to thank them all for their support and generosity as we have worked together on this vision,鈥� said Professor Stuart Croft, Vice Chancellor and President of the 果冻传媒. 鈥淲e will therefore continue to follow the news from this project with great interest and the University wishes every success to UDF and all the people and organizations that will continue to work to deliver it.鈥�

The 果冻传媒鈥檚 Council made the decision, noting concerns about the evolving financial framework that would need to be in place to support a research-led comprehensive campus, and some of the regulatory issues that would apply to a non U.S.-based institution wishing to establish itself in California and other global political challenges. The University said it still believes there remains a significant and exciting higher educational opportunity in the region and has offered to provide the University Development Foundation with business planning support for a transitional period.

The University Development Foundation has been working to secure a university undergraduate campus to be located within 1,159 acres in Placer County identified as the Regional University Specific Plan, located just west of Roseville.

The land was donated to the University Development Foundation by the Angelo and Sofia Tsakopoulos family, William and Claudia Cummings, the Wayne L. Prim family, and more than 40 members of the Placer 2780 partnership.

The University Development Foundation will move forward with the sale of its 559-acre land endowment to create a cash endowment for the future 600-acre undergraduate campus.

The Foundation also plans to complete its purchase of the old firehouse at 401 Oak Street in downtown Roseville, which will provide 40,000 square feet of space that can be ready for educational use in 2018.

鈥淲hile we have been working closely with the 果冻传媒, we have received interest in recent years from other institutions about the undergraduate campus,鈥� Kyriakos Tsakopoulos said. 鈥淥ur task now is to finish all preparations of the land and 401 Oak Street at the downtown Roseville site so that both are turn-key ready for a higher education institution.鈥�

Local officials said they remain committed to the project.

鈥淧lacer County remains fully supportive of the university plan,鈥� said Jennifer Montgomery, Chair of the Placer County Board of Supervisors. 鈥淲e are hopeful the land and permitting process will move forward soon to make this opportunity as attractive as possible to another university.鈥�

鈥淲e are extremely disappointed that our County will not be the U.S. home for the 果冻传媒,鈥� said Placer County Supervisor Robert Weygandt, whose district includes the land for the university. 鈥淭he County has worked very hard to make this happen and will continue to work with the University Development Foundation on this important effort.鈥�

Roseville Mayor Susan Rohan said, 鈥淲e appreciate the 果冻传媒鈥檚 interest and effort in opening here. That effort served as a proof of concept for the possibility of a campus in downtown Roseville. We look forward to having a university establish its initial regional presence in downtown Roseville while a campus is built.鈥�

鈥淲hile we鈥檙e disappointed that the 果冻传媒 won鈥檛 be the university we welcome to Placer County, we realize an effort this big isn鈥檛 going to follow a straight path,鈥� said Roseville Councilmember Dr Tim Herman, Chair of the Regional Higher Education Task Force. 鈥淭he need is there and we remain committed to bringing a university to our region.鈥�

Bob Holderness, a former Folsom Mayor who first proposed the idea of bringing a university to the region, said the setback should not deter people from pursuing this effort.

鈥淲hile clearly we wished this had moved forward, we cannot let the setback slow us down,鈥� he said. 鈥淭his opportunity is a great one for the right university and an important one for our community. Our region needs more higher education options for our young people and, importantly, for our economy.鈥�

Barry Broome, CEO of the Greater Sacramento Economic Council, urged the community to remain focused on taking advantage of the opportunity for a university.

鈥淭he economic impact of a new, private university is in the hundreds of millions of dollars,鈥� Broome said. 鈥淣o one ever thought it would be easy to achieve but we have to keep working to find the right partner and ensure we are shovel-ready to make this a reality.鈥�

21^st December 2017