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-vii-

of structural elements is expected to require about one year.  Mechanical and electrical installation will begin about October 1984 and finish work will begin in 1985.

The Congressional rescission of $8 million from the construction appropriation was discussed, and it was noted that such a sum will almost certainly be required in future years for completion of all construction, finishing, and furnishing.

Private sector commitments are now less than $1.5 millions short of the $37.5 million goal.  The following table presents results through August 29, 1983:

[[4 column table]]
($1,000's) 
[[headings are underlined]]

[[funds]] | Funds In Hand | Pledges and Commitments | Total                                 
Foreign Governments | $ 2,050 | $ 5,000 | $ 7,050
Foreign Organizations | 1,035 | 100 | 1,135
U.S. Corporations | 645 | 634 | 1,279
Individuals and Foundations | 3,727 | 7,126 | 10,853
Associates Contributions | 1,423 | - | 1,423
Smithsonian Unrestricted Funds | 6,375 | 3,280 | 9,655
Earned Interest | 2,688 | - | 2,688
Sale of Capitol Hill Property | [[underlined]]- | 2,000 | 2,000[[/underlined]]
Total | $17,973 | $18,140 | $36,083
[[\table]]

The Regents were informed of major gifts and pledges received and pending.  The National Board of the Smithsonian Associates (whose members have contributed over $2 million) will be organizing an approach to major American coporations and foundations.

[[underlined]]General Post Office Building[[/underlined]]

The Secretary reported on recent actions in the Senate and House Public Works committees which would direct the GSA to transfer this building to the Smithsonian without reimbursement, contingent upon GSA locating suitable quality space for the current occupants, the International Trade Commission.  The House measure, if enacted, would also authorize an appropriation of $35 million for its renovation and conversion to public use.

The General Post Office Building would be used for expanded public activities in the National Museum of American Art, the National Portrait Gallery, and the Archives of American Art.  It offers space for exhibitions, study of collections, classes and seminars, and an urgently-needed auditorium.  Public use of the building would add significantly to the emerging cultural corridor along Seventh Street.  With the assistance of museum space consultants the Institution has begun to develop a specific program for the building and assess the positive effect on the use of the Patent Office Building.

Transfer legislation will require further authorization and appropriations to renovate the building, now estimated at $35 million.  The building must be brought to modern museum standards (for fire protection, constant temperature