Home > News > Business > Business News: University sets up new limited liability company to merge with Sierra Nevada University

Business News: University sets up new limited liability company to merge with Sierra Nevada University

By Bob Conrad
Reno Business Weekly

The University of Nevada’s merger with Sierra Nevada University is closer to completion. Previously Sierra Nevada College, SNU will become a UNR asset in the near future. The Nevada System of Higher Education’s board of regents are scheduled tomorrow to approve the agreement.

UNR is creating a limited liability company under its foundation in order to secure the SNU real estate. 

“The UNR Foundation will hold these property assets in a limited liability company (Lake Campus, LLC) which is a wholly owned subsidiary of the UNR Foundation,” the regents meeting agenda notes. “In order for UNR to operate the campus, it is necessary for UNR to lease the campus buildings and grounds from the Foundation’s Lake Campus, LLC.”

The SNU campus will be rented for 50 years at $1 a year. UNR will assume all operations and maintenance of the property. Pending regents approval, the agreement will be effective July 1.

But not all assets will be immediately transferred to UNR. The Tahoe Center for Environmental Science on the campus is owned by the UC Davis regents. It will be leased by UNR with an option to purchase the facility.

“UNR Foundation desires to organize a wholly owned Nevada limited liability company to take title to SNU’s real property, subject to the specified deed restrictions, which SNU and UNR are agreeable to,” the agreement notes. 

UNR President Brian Sandoval is seeking regents approval for the property transfers.

“The new UNR site will facilitate advancement of the University’s research mission through the Tahoe Center for Environmental Science,” higher ed. officials noted. “The location will contribute toward closing achievement gaps by providing planned and coordinated options for all UNR students to expand their studies at this branch campus.”

Doug Boyle, UNR College of Science professor, was named in March associate vice provost for research and creative activities at SNU. His new position is effective July 1. 

Nearly 500 undergraduate and graduate SNU students will become UNR students, and most SNU faculty are expected to be retained, UNR officials said.

Events

  • 1 Million Cups
  • AGA Fireside Chat
  • SportClips grand opening
  • STEAM Sensation
  • Panasonic hiring event

View all events | Add an event to our calendar

Business news briefs

The Nature Conservancy recently announced Mickey Hazelwood as its conservation director. In his new role, Hazelwood will lead TNC’s strategic efforts to ensure resilient lands, resilient waters and climate action for Nevada, and contribute toward the global organization’s goals for a sustainable world. “Our chapter has needed a dedicated conservation director and filling this role has been one of my top priorities,” said Mauricia Baca, TNC in Nevada State Director.

State unemployment rates remain the same. The Nevada Department of Employment, Training and Rehabilitation’s April 2022 economic report shows the state’s seasonally adjusted unemployment rate was 5% in April 2022 which is unchanged from March 2022. The unemployment rates were 5% in the Las Vegas area, 2.7% in Reno, and 3% in the Carson area in April 2022. The lowest unemployment rate was in Eureka County at 1.9%, and Clark County had the highest rate at 5%. 

Related Stories