UT presidents home draws no bids - WRCBtv.com | Chattanooga News, Weather & Sports

UT presidents home draws no bids

KNOXVILLE (AP) - The University of Tennessee at Knoxville has gotten no bids on the now-vacant president's house it wants to sell.

UT officials said in a statement that they haven't yet decided whether to extend the original 30-day bidding period, which ended Friday.

The Knoxville News Sentinel reported the house has been appraised at between $3 million and $3.7 million.

It became a flashpoint after a former president spent $500,000 to renovate it and is a drain on the university, which is spending $180,000 annually to maintain the now-vacant house.

The Georgian-style brick home is in the upscale Sequoyah Hills neighborhood on Fort Loudoun Lake. The 11,416-square-foot house sits on a 3.4-acre lot and has a tennis court, boat house, deck and garden.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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