The Tennessee Higher Education Commission on Thursday, July 28, approved the acquisition of Lambuth University in Jackson, Tenn., by the state of Tennessee.
The approval in Nashville sets up a Friday vote by the Tennessee Board of Regents on transferring Lambuth specifically to the University of Memphis.
The private United Methodist Church affiliated institution closed June 30 after several years of financial difficulties.
Meanwhile, a feasibility study by THEC staff and executive director Richard G. Rhoda, spells out some continuing maintenance needs that under one scenario could require a subsidy by the University of Memphis or more than the $11 million the state approved for the transition over the next four fiscal years starting with $5 million in the current fiscal year.
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