The Arkansas State University System Board of Trustees in a special meeting on Wednesday (Nov. 4) approved the sale of a residential property in Jonesboro that was determined to be nonessential to the operations of the system.
It is a residence that was previously used to house the ASU-Jonesboro chancellor.
ASU System President Chuck Welch said the board originally approved plans to sell the property at 3613 Lacoste Drive in September 2011 after deciding to establish the System Office in Little Rock.
No acceptable offer had been received until recently. The offer of $430,000 approved by the board exceeds the appraised value of $425,000.
The house was originally acquired in 2007 to serve as the home of the chancellor of Arkansas State University when the position was created.
The president of the ASU System lived in the university-owned residence on Nettleton Avenue until the position was moved to Little Rock. Chancellor Kelly Damphousse now resides at the Nettleton Avenue property, which is also used for university functions.