On November 3, 2007, the University Board of Trustees agreed to lift the suspension of the college provided that the alumni association would provided the necessary operating revenue. Specific benchmarks for fundraising were agreed upon. The Alumni Board embarked on a $100 million fundraising drive to build the college's endowment, raising more than $18 million in gifts and pledges by November 2007. However, major donors balked out of concern that the deal did not make the college sufficiently autonomous from the university, and a group began meeting directly with the university, incorporating as the Antioch College Continuation Corporation (ACCC). On February 22, 2008, the university issued a press release reinstating the suspension, despite ongoing negotiations with the group. On March 28, 2008, ACCC negotiators rejected a $12.2 million demand from the university for the sale of those university assets associated with the operation of the college. ACCC instead offered $10 million for 10 seats on the 19-member board effectively seeking control of the entire university. On May 8, 2008, university trustees rejected the ACCC's "best and final" offer – $9.5 million for the college and another $6 million for the graduate campuses in exchange for eight board seats, with an additional four new trustees to be jointly agreed upon by the ACCC and current trustees.