University of Virginia Library

PURCHASE OF GOODWIN PROPERTY

The President reported on a proposal to sell to the University the Goodwin property located
on Sprigg Lane adjacent to Mary Munford Hall and Morea. He was hopeful that the property could
be purchased at the assessed fair market value for tax purposes, $25,200, although a private
appraisal had set the value at $36,000. The proposal to purchase at a price not to exceed
$36,000 had received the approval of the Finance Committee and the Buildings and Grounds
Committee at their meetings on the preceding day, 4 June 1964, with the understanding that the
President would determine whether it was more advantageous for the property to be purchased by
the University or by the Alumni Board of Trustees of the University of Virginia Endowment Fund.

The following resolution was adopted:

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia
that the President and Comptroller be and they are hereby authorized to provide for the purchase
of the Goodwin property on Sprigg Lane, either by the University or by the Alumni Board of
Trustees of the University of Virginia Endowment Fund as the President may determine, at a price
not to exceed $36,000.