LINCOLN, Neb. (AP) — The University of Nebraska Foundation says it will sell a Lincoln home that was purchased for the university’s president a year ago.

The foundation announced Friday that it was acting at the direction of the university’s Board of Regents. Foundation officials bought the 87-year-old home with private money in December 2013, at a cost of $750,000.

The house was intended to be renovated. According to Lancaster County records, its assessed value last year was $653,900.

Foundation officials say they’ll continue to work with the regents on housing arrangements. Former University of Nebraska President J.B. Milliken left his position after he was named chancellor for the City University of New York in January 2014.

The home will be listed for sale this month. It’s located at 2810 South 27th Street.