Highlands University signed off on a letter of intent Monday as an official first step toward taking over the College of Santa Fe — a major expansion for the local four-year institution.
The acquisition is contingent upon the approval of the state Legislature and the state Board of Finance, among other agencies.
After an hourlong closed session, Highlands' Board of Regents voted 3-0 in favor of the letter, which gives the university a 120-day window to buy the financially struggling Santa Fe school.
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