November 20, 1992
TO: BOARD OF GOVERNORS NO. 82-92
RE: INSTITUTE OFFICE SPACE
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At the Board’s last meeting in October, as part of the
presentation of the Institute’s proposed budget for FY 1992-93, I
reported that while the Institute currently leases and subleases
adequate space at 1600 M Street, N.W., we had been advised that
our landlord, the National Geographic Society, may want to occupy
the entire building, which might require the Institute to move
all or part of its offices to a new location within the next two
years.
Since that time, it has become clear that the National
Geographic Society does want to occupy the entire building. The
Executive Committee of the Board of Governors has appointed a
real estate committee which is exploring various alternatives,
including having the Institute relocate its offices to one of
three possible new buildings in downtown Washington. Because
conditions in the Washington real estate market appear to be more
favorable now than they are likely to be in the near future, a
decision may be reached regarding future office space within the
next several weeks.
We will keep you informed of developments.
Matthew P. Fink
President