According to an Order of the San Francisco Superior Court dated March 22, 2010, the proposal for the UC Regents to transfer 800 Chestnut to SFAI is a done-deal.  This means that SFAI's financial statements for the year ending June 30, 2010 should be infused with an additional 20 million dollars!

For more about the proposal and its intended effects, click HERE.

By the way, this is a very interesting paragraph from the court's Order:

"In the event that the San Francisco Art Institute ("SFAI") ever ceases to operate a school for the instruction in and illustration of fine arts, or in the event that SFAI ever makes substantial use of the Chestnut Street Property, or any proceeds of the sale or mortgaging thereof, for purposes other than the instruction in and illustration of the fine arts, the Trust will terminate and its assets will vest absolutely in The Regents of the University of California ("The Regents"), to be used for support of the University of California."

So if SFAI shifts its focus away from the "fine arts"  -- let's say to reinvent itself to cater to some short-sighted marketing impulse -- then it may just trigger the button for the property to "revert to and vest absolutely in the Regents."