UMass president responds to critics of Mount Ida deal
BOSTON (AP) — University of Massachusetts President Martin Meehan is responding to critics of the planned purchase by UMass-Amherst of the assets of Mount Ida College, which plans to close at the end of the current semester.
Meehan said Thursday that UMass had no role in Mount Ida’s closing and that Mount Ida did not choose the UMass agreement over a proposed merger with Lasell College.
Meehan said Mount Ida approached UMass after their merger discussions with Lasell ended and their only alternative was to shut down.
Meehan also said UMass Amherst’s financial commitment to the agreement has no impact on UMass-Boston’s operating budget and that no state appropriated funds were involved.
He said UMass-Amherst will borrow to acquire Mount Ida’s physical assets and offset that borrowing with revenue supported by its growth.