On Monday, Texarkana College President, James Henry Russell, and Texas A&M University, Texarkana Chancellor, John Sharp, met to discuss a land and building swap.
The agreement states the university will give the Aikin Building, Moss Library and 3.25 acres of land to Texarkana College.
The Academic Building, which will be leased to the college until July 31st, 2016, will then be bought for $340,000.
In return, the University will get 350 acres of land, also known as "The Farm". The land, about 15 miles west of Texarkana, will be used for educational purposes.
Manager of Communications, Bob Bruggeman, says this swap will help strengthn the community.
"What this represents is a partnership between the University and College," said Bruggeman. "Partnerships are always good because it benefits the staff, faculty, the students, and in this particular instance it benefits the taxpayers."
The Texarkana College Board of Trustees must approve the agreement to finalize it. That will happen at their next board meeting on February 26th.