CSU Monterey Bay’s grant-raising arm eyes Monterey Herald building purchase.

The University Corporation at Monterey Bay is eying the Monterey Herald building for a possible purchase, but CSU Monterey Bay officials say it’s too early to give any hard details.

The corporation, formerly known as the Foundation of CSUMB, is the nonprofit grant-raising arm of the university. According to Executive Director Kevin Saunders, the corporation is looking for a place to house its researchers, who help secure the school’s funding.

As of now, corporation employees are scattered around campus, where space is limited, he says. When the Herald building became available last May the nonprofit decided to poke around.

But, Saunders stresses, there’s no actual deal yet—and he couldn’t say if one was coming.

“We’re taking a look. Nothing is final,” he says. In November officials took a tour of the Herald building, on 8 Upper Ragsdale Drive in Ryan Ranch. But the corporation hasn’t even consulted its employees on whether such a building would be an appropriate location.

“Whether it fits the needs of our faculty or researchers, I have no clue,” Saunders says. “If we move down the road on this I have to get them involved.”

The Herald building is listed at $7.25 million. The newspaper has been operating out of Ryan Ranch since 1988, after moving from downtown Monterey.

The University Corporation provided more than $22 million to the school’s budget between 1996 and 2008, CSUMB’s website says.