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[[underline]] Acquisition of Land at Chesapeake Bay Center for Environmental Studies [[/underline]]

Mr. Ripley reported that at about the same time the Institution signed a contract for the purchase of the Murray Property, it received an offer to purchase a 20-acre tract designated Mill Swamp Estates, located near the heart at the Bay Ceter's scientific operations. This land has been of concern to the Institution for over a decade, because of plans to build high density housing there. This would pose inevitable liabilities for the water monitoring and other scientific equipment located in that area. The organization attempting to construct the houses finally determined the site was not a feasible location for residences, and has offered to sell the property to the Institution for $90,000 (see attached map).

The fiscal year 1981 budget, as outlined in the Financial Report, provides for $300,000 to be set aside for land acquisition at the Chesapeake Bay Center. Acquisition of this parcel is of the very highest priority, to protect the neighboring lands of the Bay Center and its scientific programs and equipment.

It may be possible to acquire the land for less than $90,000, after appropriate appraisals are secured and negotiations are underway. Also, it might be feasible to resell one or two lots with appropriate restrictions, to reduce net outlay. However, it would appear prudent to authorize expenditure of up to $90,000 for this land acquisition.

After discussion the Regents approved the following resolution:

[[indented]] VOTED that the Board of Regents authorizes the Secretary to negotiate for the purchase of Mill Swamp Estates, to acquire approximately 20 acres of land at a cost not to exceed $90,000. [[/indented]]