The sale is pending approval by the State Building Commission Executive Subcommittee on Oct. 31. Proceeds from the sale will fund scholarships for lower income students.
In June, the University will seek approval from the Board of Trustees to file a cy pres court action to permit the sale of the property. If approved, proceeds from the sale will be directed to establish an endowment to fund scholarships for lower income students.
Following extensive study of uses for a 24-acre waterfront property in Knoxville, UT President Emeritus Joe Johnson announced a recommendation to transform the property into a retreat center and community showpiece for UT Knoxville student leadership development activities.
