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a sixteen-acre parcel of this property; this parcel, which is not contiguous to the remaining land, had been of low priority to the CBCES.

In February, based on independent appraisals and with the approval of Mr. Webb, an offer of $330,000 was made for the remaining property, specifically excluding, however, one residence on the land and some surrounding acreage. The Estate refused the offer, stating it required that the property be sold intact to one buyer. In April a second offer, approved by Mr. Webb, was made of $422,000 for the property, with the expectation that sale by the Smithsonian of the old residence and some acreage would reduce net outlay to $330,000 or less. This offer was accepted in June, and settlement took place July 31.

Authority is now requested to sell the old residence and a portion of nearby acreage to recoup the outlay of funds in excess of $330,000. A legal subdivision to effect this is expected to be accomplished easily, and the Maryland Historical Trust, which has interest in the property because of the restrictive easement, has indicated it has no objection to such a subdivision. The parcel sold will have no value to the research at CBCES, nor will use by a third party interfere with their work. The appraisal will be used to determine an acceptable price. 

The following motion was passed:

VOTED that the Board of Regents authorizes the Secretary to sell a portion of the Henry Murray property, consisting of a residence and nearby acreage.