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[[underlined]] Status of Land Purchases at Front Royal [[/underlined]]

At the September 1978 meeting the Board of Regents authorized the expenditure of $110,000 in trust funds for the purchase of 52 acres of land adjacent to property presently occupied by the Conservation and Research Center. Negotiations were successfully concluded with all property owners for outright purchase or for rights to future purchase, for a total expected expenditure of approximately $110,000. Any final commitments are subject to the outcome of discussions with appropriate Congressional officials. Congressional responses have been received and the questions raised are being answered. An outside appraiser has been engaged and his report, which is expected in the next few weeks, will furnish an objective basis to evaluate the agreed-upon selling prices. We expect that contracts will be signed for purchase of approximately 36 acres of the property, and arrangements concluded for the donation of another 5 acres. The Institution will purchase the right to buy the remaining 11 acres (which includes a substantial residence) when the present owners wish to sell or at their death. Restrictions will be imposed on those 11 acres, so that intervening uses of that parcel will be compatible with activities at the Conservation and Research Center.