Interesting! The request to consider independent status comes from the LCMS national board of directors. My recollection is that this request has been made in the past by the board of regents of Concordia Portland, and was not granted. So why the 180?
Several items in that consideration, I would think, include:
a) board structure and selection of board members - no more members chosen by the national LCMS convention
b) presidential selection - no more "prior approval panel" and mandatory participation by the national LCMS leadership
c) property - the property would be owned by the local college without (I guess) a "reversionary" clause whereby property after closure goes to the national LCMS
d) debt - debt is held completely locally - this impacts Line of Credit and loan arrangements; what about existing debt to the LCMS, if any?
e) call and roster status for workers - maybe if and as the college maintains some other status with the LCMS (RSO) that would be possible; otherwise calls would be (?) through the district in which the college is located
Thinking out loud, if there are few students who are in programs leading to LCMS roster status (ordained or commissioned) attending Concordia Portland, maybe the LCMS BOD is going toward a more mission/charter driven thematic for its colleges. They were begun as pastor/teacher training institutions and have morphed substantially through the later 20th century. Some, such as Seward, River Forest and Wisconsin, still have substantial church work enrollment. Others don't. It's fair if that's the background to allow for independence. Of course, there are both financial and in some sense doctrinal considerations.
Dave Benke