Updated 3:08 p.m.: Interim Chancellor Kevin Guskiewicz offered his "deepest appreciation" to the Board of Governors and interim UNC System President Bill Roper for their settlement agreement on Silent Sam in a campus-wide email Wednesday.
"Today the UNC System announced that they have reached a settlement agreement regarding the final disposition of the Confederate Monument," the email said. "This means Silent Sam will never return to our campus."
The University will turn possession of Silent Sam over to The North Carolina Division Sons of Confederate Veterans Inc., but the monument cannot be erected in any of the 14 counties with a UNC System institution, the UNC System announced Wednesday.
Under the settlement, the University will set up a charitable trust of $2.5 million using non-state funds, to be held independently. The proceeds will be used for expenses related to the care and preservation of the monument, including a possible building to house the monument.
The decision comes after SCV took legal action against the UNC System and Board of Governors. A judge entered a consent judgment Wednesday morning for a settlement involving the UNC System, the BOG and the SCV.
The UNC System said in the announcement that the settlement "prioritizes the safety and security of the University community," allows UNC to focus on its core mission of education and "provides the SCV with the resources to preserve the historic monument and be fully compliant with the law."