The Nittany Lion Inn's conversion will result in layoffs for approximately 79 employees.
Enterprise's vehicles will be removed from campus in the coming weeks.
Cancellation requests will be reviewed on a first-come, first-serve basis.
The group will receive regular updates on Penn State's initiatives to combat racism and make recommendations to the full board.
Penn State students, faculty, and staff can submit designs through July 1.
The team has countered four transfers with two new additions in the past few weeks.