logo
University of South Florida plans faculty growth as others freeze

University of South Florida plans faculty growth as others freeze

While billions of dollars in cuts in federal funding have led many universities across the country to freeze hiring, the University of South Florida sees an opportunity to grow.
On Wednesday, Provost Prasant Mohapatra told the Board of Trustees' Academics and Campus Environment Committee that the current climate has created a 'window of opportunity' for USF. He said they may need to be 'more aggressive' in recruiting faculty.
'I see a jump in quality in the market of the faculty available out there, as not many cities are going through the recruitment process right now,' Mohapatra told the BOT.
Mohapatra was not immediately available to comment on whether new hires will be targeted for current vacancies or for specific areas of research.
The 2025 Accountability Plan & Strategic Plan update highlights the need to grow USF's endowment and emphasizes the goal of enriching faculty development for teaching and research. It was unanimously approved by the BOT.
In this challenging environment where federal research dollars are restricted, Mohapatra said it is crucial that all new hires are 'trained aggressively' in writing grant proposals. The APSP also calls for a focus on growing research awards, especially large multidisciplinary ones. USF hopes to achieve $1 billion in research funding by 2030.
President Rhea Law, who announced her plans to retire in February, said many of the strategies the university hopes to pursue will be fleshed out once a new president is secured.
USF enrollment
Despite the hurdles many in higher education face — funding cuts, a rapidly approaching enrollment cliff and a national trend of turning away from academia — USF is still meeting and exceeding its performance from the prior year. Retaining preeminence will be crucial to not only recruiting but also retaining talent already employed at USF.
According to the 2025 APSP, USF met all 13 benchmarks required for preeminence. It met and exceeded performance from the prior year in 11 of the 13 metrics.
Unlike many universities struggling to keep enrollment up, USF has had years of sustained growth. Close to 37,000 undergraduate and 10,600 graduate students are enrolled on all three USF campuses. Mohapatra said the strategy moving forward is not to grow too aggressively. They want to work toward increasing the number of doctoral students, which will help raise USF's research profile.
He also wants to increase the number of master's students and have 'gradual growth' at the undergraduate level. In fall 2020, USF had 11,428 graduate students. Enrollment decreased for a few years, and by fall 2024, there were 10,915 enrolled graduate students.
Law recently created an Advancing Efficiency and Strategic Impact Task Force to look at operations internally. Mohapatra said the task force will search for ways to improve efficiency, which will 'create avenues for investments' with saved funds.
Universities across the U.S. are facing obstacles, and Mohapatra said part of what will help set USF up for success is making bold investments, like the new Bellini College of Artificial Intelligence, Cybersecurity and Computing. USF is banking on the new college securing a substantial return on investment.
The university is also working on increasing online degree programs, which Mohapatra said will be necessary in the changing landscape. Smart planning requires the university to be agile enough to take risks, Mohapatra said.
'If we do not adapt, if we are not agile enough to meet the changing landscape, we'll be falling behind in the competitive market of higher education,' Mohapatra said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

The UI will use parts of $15M in funding on an art building reno, exercise oncology clinic
The UI will use parts of $15M in funding on an art building reno, exercise oncology clinic

Yahoo

time27-06-2025

  • Yahoo

The UI will use parts of $15M in funding on an art building reno, exercise oncology clinic

Tapping into its nearly $1 billion public-private partnership (P3) endowment fund, the University of Iowa plans to invest $15 million to support various projects across campus, anchored by a renovation, a new clinic, and initiatives aimed at staff retention. The P3 funding originated in 2020, when the Iowa Board of Regents approved the University of Iowa to enter a 50-year partnership with ENGIE North America and Meridiam. More: Finding connection and healing, how a free Iowa City yoga class is helping curb addiction ENGIE paid $1.1 billion upfront to manage the UI's utility system for 50 years. In 2020, the university spent $153 million to pay off existing debt and $13 million to cover consulting fees. The remainder of the upfront payment, around $999 million, will go into an endowment to fund the University of Iowa's Strategic Plan. The five priorities for the 2022-2027 plan include: excellence in teaching and learning, innovative research and creative discovery, welcoming environment, holistic well-being and success, and transformative societal impact. "The P3 program helps us turn great ideas into real progress," said Kevin Kregel, executive vice president and provost, in a news release. "By aligning our investments with areas of need and opportunity, we are achieving new levels of student success, faculty excellence, and impact across the university." The endowment allows "the university to invest about $15 million per fiscal year." Here is how the University of Iowa will use the $15 million in fiscal year 2026: The University of Iowa is investing $3 million to renovate the Performing Arts Annex (formerly the Old Museum of Art) at 150 North Riverside Drive, which will become the home of the Department of Dance. The $37 million renovation that will transform the 88-year-old building into the new home of the UI's Graduate College, the College of Education—Art Education and Maker Space, and the School of Planning and Public Affairs. The university previously used $6 million in P3 funds to support the project. More: University of Iowa plans $37M Art Building renovation to house grad college, college of education The building sustained significant flood damage in 2008 and was restored to its original state with Federal Emergency Management Agency funds. Work on the latest renovation started in February. The project will be substantially complete by August 2026. The University of Iowa will take on a three-year, $642,896 project to create an exercise oncology clinic. The clinic will focus on "improving the health and quality of life for cancer survivors" through "personalized exercise programs and advanced imaging technology." More: The University of Iowa's College of Law has promoted its interim dean. What to know The clinic will be part of the Department of Health and Human Physiology and serve as "a clinical research hub" exploring the benefits of physical activity in rehabilitation for cancer survivors. The University of Iowa's remaining $11.36 million in P3 funding will support "additional strategic plan initiatives throughout the year," according to a news release. However, $4 million of the reserved funds will support the "High Impact Hiring Initiative," which aids in recruiting and retaining elite faculty across colleges and departments. More: A new country bar moves in, Fieldhouse finds a new home in downtown Iowa City shakeup The University of Iowa has invested P3 funds into the "High Impact Hiring Initiative" since 2021, supporting "75 faculty recruitments and 32 retentions across 10 colleges." Jessica Rish is an entertainment, dining and education reporter for the Iowa City Press-Citizen. She can be reached at JRish@ or on X, formerly known as Twitter, @rishjessica_ This article originally appeared on Iowa City Press-Citizen: How is the University of Iowa planning to spend $15M in funding?

Supreme Court upholds federal internet subsidy program
Supreme Court upholds federal internet subsidy program

The Hill

time27-06-2025

  • The Hill

Supreme Court upholds federal internet subsidy program

The Supreme Court in a 6-3 decision upheld a multibillion-dollar subsidy program that funds phone and internet services in rural areas and schools on Friday, rejecting a conservative group's claims that Congress delegated away too much power in setting it up. Established in 1996, the Universal Service Fund (USF) is intended to help the Federal Communications Commission (FCC) accomplish its decades-long aim of affordable 'universal service' nationwide by providing subsidies to rural and low-income consumers as well as schools, libraries and health care facilities. It spends roughly $8 billion annually. Conservative nonprofit Consumers' Research challenged how Congress delegated determining how much telecommunications companies must contribute to the fund to the FCC, which it, in turn, sets based on a private company's financial projections. The group claimed the two layers combined violates the nondelegation doctrine, which prevents Congress from delegating its legislative authority to the executive branch without an intelligible principle. 'Nothing in those arrangements, either separately or together, violates the Constitution,' Justice Elena Kagan wrote for the majority, which comprised the court's three Democratic-appointed justices and three of the six Republican-appointed justices. Justice Neil Gorsuch, joined by Justices Clarence Thomas and Samuel Alito, dissented. 'When it comes to other aspects of the separation of powers, we have found manageable ways to honor the Constitution's design. This one requires no less of us,' Gorsuch wrote. Anti-regulatory interests had hoped the Supreme Court would use the case to revitalize the nondelegation doctrine, which the high court has not used to strike down a statute in 90 years. But the justices instead sided with the federal government, keeping the USF intact. Both the Biden and Trump-era Justice Departments defended the program. Among others, Consumers' Research challenge was backed by Americans for Prosperity Foundation, a libertarian advocacy group affiliated with the Koch brothers; the conservative Christian legal powerhouse Alliance Defending Freedom; Former Vice President Pence's advocacy group, Advancing American Freedom; the Trump-aligned America First Legal Foundation; and the Cato Institute, a prominent libertarian think tank. Meanwhile, a bipartisan group of 22 state attorneys general, consumer advocacy group Public Citizen, broadband groups and the American Library Association and others filed briefs in support of USF.

Neinor launches €1,070mn Tender Offer for AEDAS, redefining the residential real estate landscape
Neinor launches €1,070mn Tender Offer for AEDAS, redefining the residential real estate landscape

Yahoo

time16-06-2025

  • Yahoo

Neinor launches €1,070mn Tender Offer for AEDAS, redefining the residential real estate landscape

Castlelake, owner of a 79% stake in AEDAS, has signed an irrevocable agreement to sell its stake to Neinor for €24.485/sh (€21.335/sh post div.) Acquisition of a premium portfolio with c.€2bn GAV (c.20,200#) at a c.30% NAV discount Conservative underwriting targeting a +20% IRR and 1.8x MOIC, implying significant de-risking and acceleration of Neinor's Strategic Plan 2023-27: Highly accretive transaction, driving €150mn Earnings uplift over 2025-27 (+40% vs Strategic Plan target and c.+25% on EPS), and over c.€300mn of additional profits for 2028-30 Adds c.€900mn FCF over 2025-30 and allows to boost shareholder remuneration with c.€500mn to be distributed over 2025-27 (+44% vs target and c.+30% on DPS) Yet Neinor will maintain a conservative leverage profile with 20-30% LTV given the equity efficient structure of the transaction Strategically, this transaction takes Neinor to the next level, positioning the company as one of the leading European Homebuilders backed by a sizable, high quality land bank (c43,200#) in one of the safest residential markets worldwide The transaction is structured as a voluntary tender offer addressed to 100% AEDAS's shareholders which will be submitted for authorisation by the Comisión Nacional del Mercado de Valores (CNMV) Neinor Homes ('Neinor', today announced a fully backed €1,070mn tender offer to acquire 100% of the share capital of AEDAS Homes ('AEDAS'), executing a bold play to consolidate leadership in Europe's most dynamic housing market. As part of the offer, Castlelake, owner of 79% of AEDAS, has entered into a hard irrevocable agreement to tender its entire stake in the tender offer, providing strong deal visibility and execution certainty. The offer price negotiated with Castlelake values AEDAS at €24.485/share (€1,070mn equity value), with an adjusted acquisition price of €21.335/share after accounting for the €136mn dividends recently announced by AEDAS to be paid in July 2025. The transaction is backed by c.€1.25bn in committed capital injected into a new SPV fully owned by Neinor: c.€500mn in equity supported by Neinor between cash (€275mn) and a capital raise (€225mn) fully underwritten by the company's largest shareholders (Orion, Stoneshield and Adar), and c.€750mn through senior secured notes fully subscribed by funds managed, advised or otherwise controlled by Apollo. The proceeds from the senior secured notes will be used to fund the takeover, as well as to partially refinance certain existing corporate indebtedness of AEDAS and its group. In order to provide certainty of execution to the parties, Neinor has entered into a standby volume underwriting letter with Banco Santander, S.A. and J.P. Morgan SE, under which Banco Santander and J.P. Morgan have agreed to volume underwrite an amount of up to €175mn on a standby basis, on terms customary for this type of agreements. This structure ensures that Neinor's liability is strictly limited to its committed capital, preserving the company's financial flexibility while maintaining a conservative LTV in the region of 20-30%. Completion is subject to CNMV's approval, obtaining other requisite regulatory authorizations and shareholder approval, with closing anticipated in Q4 2025. Strategic acquisition of c.20,200# high-quality portfolio at c.30% NAV discount The acquisition of AEDAS represents a unique opportunity for Neinor to grab a sizable, yet cherry-picked portfolio comprising c.20,200# located across Spain's most dynamic regions. Approximately 50% of the portfolio is concentrated in Madrid, the country's largest and most liquid residential market. Beyond its quality, AEDAS' portfolio offers a high degree of execution certainty with 13.809# under production, 9,049# either under construction or already completed and c.3,700# already pre-sold for €1.7bn in future revenues. The execution embedded provides high visibility on near-term cash flow generation enabling a swift recovery of invested capital in just 3 years and significantly de-risking the transaction from day one. Furthermore, AEDAS portfolio has been conservatively underwritten at a c.30% NAV discount reflecting Neinor's highly disciplined investment strategy. This implies an acquisition price of c.€1,000/sqm for the whole portfolio and €634/sqm for its land bank, reinforcing the strong upside potential embedded in the transaction. Highly accretive transaction to boost profits, dividends and shareholder returns in the short, medium and long term Neinor has delivered a flawless execution across the first two years of its 2023–2027 Strategic Plan, with strong performance in its core pillars: shareholder remuneration and equity-efficient growth. On the first pillar, shareholder remuneration, Neinor initially targeted €600mn in shareholder distributions by 2027 and, so far, has already delivered €325mn, representing 60% of the target. This was driven by: €325mn in build-to-rent portfolio disposals over the past two years A disciplined halt in land acquisitions through most of 2023–24 Solid profitability and cash generation from its core development business Following the announced transaction, Neinor has upgraded its shareholder return target to approximately c.€850mn by 2027, a 44% increase with dividend per share (DPS) rising from €7.1 to €9.4 (+c.30%). Of the new target, c.€850mn, there are roughly €500mn pending to be distributed over the next c.3 years, whilst maintaining a conservative leverage profile with LTV to remain between 20-30%. On the second pillar, equity efficient growth, set a target of €1bn in new investments, of which €500mn would be raised from third-party investors through its asset management platform targeting IRRs above 20%. Up until now, the company has already raised €1.2bn and deployed nearly €900mn, exceeding its initial goals. In the aftermath of this transaction, Neinor is revising upwards its net income target for 2023-27 to approximately €510mn, a 40% increase from the original €360mn. On an earnings per share basis, EPS expected is now c.€5.9, up from €4.8 before, a 25% increase. Accordingly, the company is now targeting a 15-20% ROE, above its initial objective of c.15% - on ROTE the company is now targeting 20-25%, above its initial objective of c.20%. Strengthen Neinor's position as Spanish leading residential platform The acquisition of AEDAS represents the largest M&A transaction in the sector over the last decade and pushes Neinor to strengthen its position as the Spanish leading platform with capacity to build and develop c.43,200# in the coming years. The acquisition by Neinor also means that AEDAS' important residential platform remains under the control of a Spanish listed company in a strategic sector, reinforcing long-term alignment with the national housing market priorities. Even though the Spanish market is, and will continue to be, highly fragmented, post transaction Neinor will emerge as the largest and most diversified residential developer in the country, uniquely positioned to operate at scale across all key regions and housing segments while providing an effective answer and solution for the much-needed housing supply in the country. Beyond size, this platform brings together the best teams and professionals in the sector, combining years of operational excellence, local expertise, and leadership in sustainable and community-focused development. This powerful union strengthens our ability to execute across the full housing spectrum - from premium developments to social and affordable housing, from build-to sell to traditional build-to-rent or new living assets such as flex living, co-living and independent senior living - at the highest standards of quality and efficiency. As the newly formed market leader, we are building the go-to platform for institutional capital seeking exposure to the Spanish residential market. Whether through public markets or private partnerships with Neinor's Asset Management division, investors will now have a single, scaled, professionally managed vehicle through which to invest in the long-term strength of Spain's solid housing fundamentals, demographic growth, and deep demand for quality housing. Borja García-Egotxeaga, Neinor Homes' CEO comments that: 'This is a once-in-a-cycle opportunity to reshape the Spanish residential market. The combination of two best-in-class platforms comes at a pivotal moment - capitalizing on optimal market conditions and positioning Neinor as the go-to platform for institutional investors - both private and public, seeking exposure to the strong fundamentals of Spain's housing sector. With enhanced scale, geographic reach, and product depth, this transaction firmly establishes our leadership across all key segments of the market. But this deal is not just about size and scale - it is also highly accretive, with earnings per share expected to grow by 25% through 2027, underscoring the compelling value creation for our shareholders.' Jordi Argemi, Neinor Homes' Deputy CEO and CFO says: 'This is pure value creation. We've acquired over €3bn in high-quality assets at attractive prices across three landmark M&A deals - Quabit, Habitat and now AEDAS. This transaction alone adds €450mn in earnings potential, is fully funded, and delivers a +20% IRR. It's a textbook case of disciplined, accretive growth -and a clear proof point of what this team can execute across the cycle.'-ENDS- About Neinor Homes Neinor Homes is the leading residential property developer in Spain, with a land bank to develop c.12,000 homes, and a GAV to December 2024 of €1.5bn. This land bank is located in some of the fastest growing regions with the best economic fundamentals in Spain: Madrid, Western and Eastern Andalusia, Levante, Basque Country and Catalonia. Neinor is a fully integrated and well-established residential platform of scale in Spain, covering the entire development value chain from land buying, planning and urban management, product design, delegated development and construction, sales and marketing and rentals. We are committed to creating and delivering attractive risk adjusted returns for shareholders through our disciplined capital allocation strategy and our excellence in operations and risk management. We are the only listed residential property developer with a multi-sector strategy to market in Spain, and our strategies include Build-to-rent (BTR); Build-to-sell (BTS); and the largely untapped senior living rental market in Spain, which we are progressing. Neinor's operational excellence, investment strategy and results achieved since 2019 have enabled us to deliver on our 5-year business plan, launched in March 2023, in a sustainable and capital-efficient manner. This plan combines a €600mn shareholder remuneration plan and an investment of €1bn in new opportunistic land acquisitions, half of which are expected to be undertaken in joint ventures with strategic partners through co-investment agreements, with a +20% IRR target. We offer shareholders attractive risk adjusted returns in a country where there are strong and sustainable supply and demand fundamentals and supported by a resilient macroeconomic environment and outlook. Spain remains one the most attractive and safest residential markets worldwide, with one of the lowest ratios of new supply per capita globally since more information: NEINOR HOMESInvestor Relations H/ADVISORS MAITLANDNeinorHomes@ David Sturken +44 7990 595 913 Billy Moran +44 7554 912 008

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store