BOWLING GREEN - Bowling Green State University has sold one of its two presidential homes and plans to use proceeds from the sale for renovation, purchases, and continued maintenance of the other home.
The university closed Friday on a $415,000 deal for its house and property at 625 Hillcrest Drive. BGSU President Sidney Ribeau vacated that house in November, 2002, for a BGSU-leased condominium so university leaders could devise a plan for its future.
Teri Sharp, a BGSU spokesman, said yesterday the money will be placed into a separate account to be used for the two-story brick house at 700 South Wintergarden Rd., which the BGSU Foundation bought last May for $750,000 for use as a presidential home. In December, the foundation gave the property to the university.
Ms. Sharp said renovations to the Wintergarden property were on hold pending the sale of the Hillcrest home. She said work is set to begin, and tentative plans are for Mr. Ribeau and his family to move into it sometime this summer.