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VOTED that the Board of Regents authorizes the Secretary to negotiate for the acquisition of property adjacent to the Cooper-Hewitt Museum facilities, 11 East 90th Street, provided that (1) its purchase price can be met with Trust funds allocated to the Cooper-Hewitt, (2) expenses for its maintenance and renovation can be met by means which are acceptable to the cognizant committees of the Congress, and (3) final terms of its acquisition meet the approval of the Chairman of the Executive Committee.

Mr. Adams said that the staff proposes to carry out at least two years of enhancement of Membership and Development Office activities with a view toward laying appropriate groundwork for a major capital campaign. He added that the cost of these enhancements, which include additional staffing as well as computer systems, travel, and other administrative apparatus, are likely to exceed amounts which could be met by currently budgeted unrestricted Trust funds; accordingly, their allocation over the next several years will be dependent upon the Regents' willingness to view these expenditures as attractive and equally-productive alternatives to investments in the endowment. In discussion which ensued Dr. Lovejoy pointed out that the Development operations are in dire need of improvement before substantive planning for a capital campaign can be launched. Mrs. Wray added that the National Board of the Smithsonian Associates is planning on enhancing the effectiveness of the James Smithson Society through the formation of the Secretary's Circle, a nationwide network of carefully selected Smithsonian supporters. Concluding the discussion, the Secretary suggested that a further report to the Regents should present the outlines of activities for both the Development Office enhancements and the planning for the capital campaign.