UC Santa Cruz establishes permanent Silicon Valley home

Colleges and Universities A-Z University of California - Santa Cruz
1

“UC Santa Cruz is relocating its existing South Bay programs to a new permanent home in Santa Clara, hoping to more closely connect the university to Silicon Valley.” …

http://www.mercurynews.com/business/ci_29855997/uc-santa-cruz-establishes-silicon-valley-campus

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What does this mean for incoming students? Will I be able to take classes there? Can I live there? Can someone explain this?