by Christopher Broderick
January 25th 2019
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Portland State University will not pursue an acquisition of the Oregon College of Art and Craft (OCAC) after an analysis determined an acquisition is not feasible for PSU.
Former PSU President Rahmat Shoureshi and other PSU administrators met with OCAC officials Thursday and informed them of the decision.
“Based on our research, it is not financially feasible for us given other budget challenges that we face. We explored this because we were excited about the potential opportunity that an acquisition would honor the legacy of art and craft at OCAC, support the arts in our region and bolster our own College of the Arts. But our study of different acquisition scenarios, including those involving private philanthropy, showed the potential costs would be too high for PSU.” former PSU President Rahmat Shoureshi told OCAC officials.
The feasibility study conducted by PSU examined financial, legal and academic issues and potential obstacles.
Founded in 1907, OCAC is a mentor-based college located at 8245 SW Barnes Road in Portland. It offers bachelor and master’s degree programs in Fine Arts and community programs, lectures and exhibitions.