- Associated Press - Tuesday, June 2, 2015

LINCOLN, Neb. (AP) - The University of Nebraska Foundation has bought an $895,000 house in Lincoln for the University of Nebraska president.

The university said in a news release Tuesday that the deal closed Monday on the house. It is owned by the foundation and, besides future occupation by President Hank Bounds and his family, will be used for events with students, university employees, donors and others.

A Lincoln house bought in December 2013 to become the official residence was later judged unsuitable and put on the market. University spokeswoman Melissa Lee says it remains unsold.

In 2012 the Board of Regents returned to the long-standing practice of using nonstate funds to provide an official residence. The university had done so for more than three decades until 1996, when a fire destroyed the home.



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