LINCOLN, Neb. (AP) — The University of Nebraska has purchased a $750,000 home in Lincoln for NU’s president to use.

The University of Nebraska Foundation said Wednesday it had purchased the approximately 7,000-square-foot home in southwest Lincoln with private funds.

The university used to provide a house to its president. That home burned down in 1996.

The home will be used for a variety of university events and provide guest quarters and private quarters for J.B. Milliken and his family.

The university has been providing an annual housing allowance of $24,000 to Milliken.

It wasn’t immediately clear what will happen to Milliken’s housing allowance now, and university officials didn’t immediately respond to a message Wednesday morning.